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CyberCatch Holdings, Inc. reports developments around its AI-enabled cybersecurity platform for continuous compliance and cyber risk mitigation. The company’s Software-as-a-Service solution is described as helping organizations implement required security controls and continuously test them from outside-in, inside-out, and social-engineering dimensions to identify control failures.
Recurring CyberCatch news includes reseller and referral partnerships, sector-focused compliance offerings such as CMMC solutions for defense suppliers, cyber safety guidance for healthcare organizations, and corporate updates on growth plans. Company releases also cover completed technology acquisitions, including multi-authority attributes-based encryption with revocation intellectual property, as well as material agreements, capital-structure disclosures, and operating or financial results.
CyberCatch Holdings, Inc. (TSXV: CYBE) has launched an innovative AI-enabled anti-ransomware solution to combat the growing ransomware epidemic. The solution focuses on implementing critical cybersecurity controls as prescribed by NIST IR 8374 Ransomware Risk Management Framework. Key features include:
1. Ensuring organizations have all mission-critical cybersecurity controls in place
2. Continuous monitoring and testing to maintain safety and compliance
3. Options for baseline safety (top 25 controls) or full safety (69 controls)
CyberCatch's CEO, Sai Huda, emphasized the urgent need for this solution, citing the spike in median ransom payments from $200,000 in 2023 to $1.5 million mid-year in 2024. The company expects rapid adoption across organizations of all sizes, potentially accelerating sales growth.
CyberCatch Holdings, Inc. (TSXV: CYBE) has announced a non-brokered private placement to raise up to $1,500,000. The offering consists of 10,000,000 units priced at $0.15 per unit, with each unit comprising one common share and one warrant. Each warrant is exercisable at $0.25 for two years, subject to acceleration if the stock price reaches $0.35 for 10 consecutive trading days. The company may pay finder's fees and close in multiple tranches. Proceeds will be used to hire sales staff, increase digital marketing, and support international growth. The private placement is subject to regulatory approvals and will be offered under exemptions from prospectus requirements.
CyberCatch Holdings, Inc. (TSXV: CYBE) has unveiled 'HackOps', a next-gen enterprise cybersecurity training solution. This innovative product addresses the $5.6 billion global cybersecurity awareness training market, targeting the 74% of data breaches caused by human errors. 'HackOps' is part of CyberCatch's CyberSavvyIQ series, offering a unique virtual reality learning experience that teaches users to 'think like an attacker'.
The solution simulates real-world cyberattack scenarios, covering reconnaissance, spear phishing, vulnerability exploitation, and ransomware installation. Compatible with various VR headsets and desktop platforms, 'HackOps' aims to transform learners into strong human firewalls. With the cybersecurity training market projected to reach $10 billion by 2027, CyberCatch is positioning itself to capture significant revenue in this growing sector.
CyberCatch Holdings, Inc. (TSXV: CYBE) has announced a share consolidation effective July 30, 2024. The consolidation will be on a 10:1 basis, meaning every ten pre-consolidated shares will be converted into one post-consolidated share. This move aims to transform the company's capital structure, attract additional financing, and position CyberCatch for growth and increased shareholder value.
Post-consolidation, the total issued and outstanding shares will be approximately 5,692,165, subject to rounding for fractional shares. The company's name will remain unchanged, but new CUSIP and ISIN numbers will be assigned. Registered shareholders holding physical share certificates will receive instructions for exchanging their certificates, while those holding shares through brokers won't need to take action.
CyberCatch Holdings, Inc. (TSXV: CYBE) has announced a plan to grow shareholder value through two key initiatives. Firstly, the company will implement a share consolidation at a ratio of 1:10, reducing the outstanding shares to 5,692,165. Secondly, CyberCatch plans to raise approximately $1,400,000 through a new financing offering, priced in the context of the market on a post-consolidated basis.
The capital raised will be used to fuel sales growth by funding marketing efforts and hiring additional sales staff. CEO Sai Huda expressed enthusiasm for the plan, stating it will benefit all shareholders as the company ramps up sales growth and business activity.
CyberCatch Holdings, Inc. (TSXV: CYBE), an innovative cybersecurity company, has reported significant revenue growth for its AI-enabled SaaS solution. The company's gross revenues increased by 159.7% for the fiscal year ending July 31, 2023, compared to the previous year. Additionally, for the six months ending January 31, 2024, gross revenues surged by 245.8% compared to the same period in the previous year.
This growth trend is attributed to the rising global cyber-attacks on corporations, SMEs, and governments, leading to increased adoption of CyberCatch's unique, patented SaaS solution. CEO Sai Huda emphasized that the company has successfully transitioned from concept to development, achieving product-market fit and positioning itself for further significant growth in the coming months and new fiscal year.
CyberCatch Holdings has reported a 42% increase in its customer base over the last 12 months, with the majority of new clients based in the U.S. (55%) and Canada (45%). This growth spans multiple sectors including defense, manufacturing, healthcare, financial services, education, and retail, particularly focusing on small and medium enterprises (SMEs). The company’s AI-enabled SaaS platform helps businesses stay compliant and mitigate cyber risks effectively and affordably. CyberCatch's solution has been praised by industry professionals for its ease of implementation and effectiveness.
CyberCatch Holdings announces the appointment of Shawn Balaghi to its board of directors and as Vice President of Finance. Balaghi brings over 25 years of experience in corporate finance and capital markets, having held various executive roles in multiple industries. Currently, he serves as a CEO and board member for several publicly traded companies. CyberCatch CEO Sai Huda expressed enthusiasm for Balaghi's expertise in attracting investment capital to enhance the company's AI-enabled cybersecurity platform. Balaghi aims to leverage his extensive experience to drive substantial growth at CyberCatch amid increasing global cybersecurity threats.