The cybersecurity market shows impressive growth and gives companies working on it many opportunities for development. This will promote a high level of competition between huge corporations (IBM, HP, McAfee, Cisco, etc.), and between start-up companies that provide solutions for specific niches - and at this point it is not clear why SpC is going to bypass its competitors.
The official press release of the company states that "SecurityPlusCloud has been working in the field of international cybersecurity for more than 20 years", but we could not find any news about the company published before September-October 2017. Exact search query \ "securitypluscloud \" in the "News" section in Google displayed the only one result - the company's press release in Digital Journal on October 11, 2017.
In the WP and the press release are not listed drivers, which will allow the company to show such impressive growth. There is no confirmed information about current customers of the company.
Forecasts on revenue seem fantastic - almost thirty-fold growth over 5 years. The company did not provide any materials on the basis of which it is possible to confirm the assumption of $350 million in revenue in 2018. For the needs of the team allocated 25% of the collected funds.
CEO and CTO of the company, who are also co-founders do not disclose even their second names, not to mention the pages on LinkedIn, making impossible to confirm experience and skills, and creates a negative impression about SpC in general.
Ericsson, in its study of the prospects for the development of IoT, follows such figures: the total number of connected devices by 2021 will reach 28 billion units, 15.7 billion of which – IoT-devices, CAGR 2015-2021 for IoT - 23%. According to forecasts, by the end of 2018 the number of IoT-devices will exceed the number of mobile phones. At the end of 2015, the number of IoT devices connected to various channels of cellular communication was 400 million; this segment will be the fastest growing on the whole IoT market - the number of devices will grow almost fourfold. According to MarketsandMarkets forecasts, volume of the global cyber security market will reach $232 billion by 2022, with an annual growth of 11% - the current size of the market is estimated at $138 billion.
Remotely managed services from SecurityPlusCloud are affordable, real-time protection that can help organizations achieve security compliance, and increase resilience in the face of cyber threats that are constantly changing today. Currently, the list of ready-made solutions for business and organizations includes 100 items, for example: • audit and verification of security systems; • consulting and support; • protection from hackers and cracking; • cloud protection; • training and re-training of personnel; • mobile security centers.
Company's business model is built on providing cybersecurity services (according to the company, there are more than a hundred of it) to any interested firms and individuals. Strategy / roadmap of SpC: • create the largest regional security centers for any organization, government, commercial structures, as well as to protect children from current and potential threats; • enter in the top-10 service providers companies in the field of cybersecurity, by taking 1% of the market in 2021 and 8% - in 2027; • rapid expansion and opening of representative offices in 22 cities on 6 continents, with an emphasis on aggressive sales, aimed at rapid growth of the client base.
The total number of issued tokens is five hundred million SPC, fifty percent (two hundred and fifty) of which are allocated to attract investment. The company in its WP presents forecasts for revenue in future periods: • 2018 - $350M • 2021 - $1 billion • 2023 - $10 billion • 2025 - $35 billion • 2027 - $78 billion According to the Pitch Book, in 2017, 39 companies operating in the "cybersecurity" segment were acquired; the median value of the Valuation / Revenue multiplier was 2.21, therefore, according to SpC estimates, by the end of 2018 the company's valuation should exceed $770M. For comparison, Veracode, which offers solutions for application security, was absorbed for $614M in April 2017; Veracode has more than 1,400 customers around the world, and for four consecutive years (2014-2017) it was recognized as the leader in the "application security" segment according to Gartner.
A quote from a press release published on VC.ru (now available in Google's cache) - "The founders of the company, Harry A. and Frank K., experts in the field of information security and the development of appropriate corporate solutions. The first once headed the information security department in the airline EMIRATES AIRLINES, and the second one helped INTEL: thanks to his leadership qualities, the best development teams have worked under his management”.