SilverSun Technologies Provides Update on Cybersecurity-as-a-Service Business

SilverSun Technologies (NASDAQ:SSNT) on Tuesday provided update on its cybersecurity-as-a-service business, which is provided by its wholly owned subsidiary Critical Cyber Defense Corporation.

As quoted in the press release:

This new cybersecurity service offering enables partners and customers to leverage our leading security operations teams to meet their cybersecurity needs.

The services offered by CCDC and CyberHat include security operations center (marketed under the tradename “Cyrebro”), incident response, cybersecurity assessments, and hacking simulations.

The service is particularly well suited for customers in compliance-driven and regulated industries. As a result, the Company identified several vertical markets to initially address, including financial services, pension administration, insurance, and the land and title sector.

The Company is pleased to announce that it has secured several customers, as well as a growing number of resellers within those target market segments. The initial closed contracts represent contract values of approximately $500,000. The sales pipeline, which includes various deals that are in contract review, represents over $3 million in contract values. CCDC projects continued growth of this new business unit, both in terms of recurring revenues, reseller partnerships and pipeline.

CCDC and CyberHat executives are negotiating to become keynote speakers or other significant presenters at several major industry events within these target markets. These presentations will highlight how hackers and cyber thieves attack companies within each sector and how to prevent and remediate cyberattacks. Details regarding these events will be provided once they have been finalized.

Mark Meller, CEO of the Company, stated, “Our partnership with CyberHat is proving to be a strong offering in the marketplace. CyberHat was recently identified by Forbes as the Emerging Leader in cyber security/SOC services. We have seen the SOC identify and remediate significant threats within our own network environment and among our customers. We strongly believe that this partnership offers a Fortune 500-level quality service at prices that are affordable for the small- and mid-markets. It has enabled SilverSun to expand its focus to both new vertical market segments and to client profiles that will benefit other areas of our businesses. We expect that the opportunities to cross-sell and bundle our various services will be substantial.”

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