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VANCOUVER, BC TheNewswire - November 8, 2023 - Integrated Cyber Solutions Inc. (CSE: ICS ) (" Integrated Cyber " or the " Company "), a Managed Security Services Provider (MSSP), is pleased to introduce its comprehensive cybersecurity solutions services and products tailored to protect the Small-to-Medium-Business (SMB) and Small-to-Medium Enterprise (SME) sectors. Recognizing the unique needs of vulnerable SMBs and SMEs, which have become the principal targets of cyber-crime in recent years due to their often basic security tools, Integrated Cyber's business is centered around a horizontally integrated set of solutions aimed at strengthening these organizations, with a focus on the U.S. and Canada.
Pioneering Cybersecurity for SMBs and SMEs - Market Overview:
Predicted damages from cyberattacks are set to reach $10.5 trillion annually by 2025 , marking a 300% surge since 2015.
Global cybersecurity spending reached $150 billion in 2021 , witnessing a 12.4% annual growth.
The current cybersecurity market has a substantial gap, with only about 10% penetration , suggesting a potential addressable market of $1.5 to $2.0 trillion.
SMBs and SMEs usually have fewer resources and expertise to invest in cybersecurity than larger enterprises, making them vulnerable to advanced threats.
The increase in ransomware targeting SMBs and SMEs signifies a pressing need for those without a dedicated cyber team to take action.
Filling a Market Gap
Cybersecurity has become a critical issue for companies of all sizes in the digital age. Large corporations with valuable data have traditionally been a prime target for cyber-attacks—evidenced by high-profile breaches such as the recent MGM Resorts hack. However, the threat landscape is shifting. Due to their often less robust security measures, SMBs and SMEs increasingly find themselves in the crosshairs of cybercriminals.
As SMBs and SMEs represent a vastly underserved market in the cybersecurity space, innovative solutions that address these organizations' unique challenges offer significant opportunities for investment. Alan Guibord, CEO of Integrated Cyber Solutions, highlighted, "While the cybersecurity companies targeting SMBs and SMEs are nascent, they already represent billions in revenue. With hundreds of thousands of targeted businesses in just the U.S. and Canada, this market yearns for premium services—akin to those enjoyed by large corporations—but at cost-effective prices."
Why Integrated Cyber?
Integrated Cyber is in the business of reducing, preventing, and responding to cyber risks and attacks, focusing on the integration and humanization of cybersecurity. As an MSSP, the Company utilizes internal resources and partnerships with third-party service providers to offer outsourced monitoring and management of security devices and systems. While the cyber industry includes hundreds of point solutions addressing different threats, environments, and approaches, Integrated Cyber is focused on prioritizing resources and market differentiation around three core pillars:
Vulnerability Assessments Remediation: Proactively finding areas in systems where cybercriminals can attack and helping to secure them before they can be exploited.
Cyber Training Awareness: Educating, training, and testing SMB and SME employees to be the strongest defense against cyber-attacks (85% of cyber issues start internally).
Managed Detection Response: Assessing and responding to cyber-attack events with immediate and effective security measures when a company does get hit.
Integrated Cyber primarily operates under a managed services model, whereby the Company becomes a trusted member of each customer's team and expands its services over time to best suit individual needs. Its business is built around predictability, with annual and multi-year subscription contracts providing managed cybersecurity services. Guibord elaborated, "Our approach addresses current market needs. Instead of mere software solutions, we present an environment where clients can adeptly manage their cyber risks." The Company is not dependent on any single third-party software but instead leverages a network of partnerships with premier providers to address the multiple demands within the cyber stack.
Integrated Cyber's Strategic Partnerships
The Company's formidable service suite is bolstered by key partnerships:
Managed Detection and Response (MDR):
Vijilan XDR : Vijilan provides MDR services for SMBs and SMEs. On August 7, 2017, Integrated Cyber entered into a master services agreement with Vijilan (the "Vijilan Agreement"), whereby Vijilan agreed to make its services and products available to Integrated Cyber and its customers in accordance with generally accepted industry standards. Pursuant to the Vijilan Agreement, Integrated Cyber is not allowed to sublicense or otherwise transfer or assign Vijilan's services, and Integrated Cyber is required to pay Vijilan for its services on a per-device basis in accordance with subsequent service order forms entered into between Vijilan and Integrated Cyber. Integrated Cyber is required to pay Vijilan within 10 business days of receiving an invoice for services rendered. In addition to the services offered by Vijilan, Integrated Cyber will also engage other EDR providers on a case-by-case basis in order to satisfy customer preferences.
Talion XDR : Talion offers an MDR service aimed at providing cybersecurity solutions for larger companies. Integrated Cyber has not yet entered a master services agreement with Talion; however, Integrated Cyber may use Talion in the future depending on their clients' or future clients' needs for Talion's services including its turn-key extended detection and response ("XDR") platform and their "security information and event management" log data platform.
SentinelOne EDR : Sentinel offers endpoint detection and response ("EDR") for users' smartphones and computers. Integrated Cyber has not yet entered a master services agreement with Sentinel; however, Integrated Cyber may use Sentinel in the future depending on their clients' or future clients' needs.
Vulnerability Management:
Kaseya RapidFire : The company runs vulnerability software from Kaseya, a tool that helps them identify, prioritize, and mitigate hardware and software vulnerabilities in their customers' endpoints, devices, and all computer systems. It aims to reduce the risk of cyberattacks by keeping systems up-to-date and properly configured. The Kaseya vulnerability software is part of the Kaseya VSA platform, which is a remote monitoring and management (RMM) software that allows Integrated Cyber to remotely manage and secure their customers' networks, servers, applications, and endpoints. Integrated Cyber can use the Kaseya VSA platform to perform various tasks, such as deploying patches and updates to fix vulnerabilities and improve performance, monitoring, and alerting on the health and status of devices and systems, automating routine maintenance and troubleshooting processes, enforcing security policies and compliance standards, providing backup and disaster recovery solutions, and delivering remote support and assistance to end users.
Vulnera : Furtim, Inc. (otherwise known as "Vulnera") offers vulnerability assessment and penetration testing for Integrated Cyber's customers. On October 27, 2021, Integrated Cyber entered into a master subscription agreement with Vulnera (the "Vulnera Agreement"), which sets out the general terms and conditions upon which Vulnera will provide its services to Integrated Cyber. Particularly, the Vulnera Agreement states that the services to be provided to Integrated Cyber and the payment for such services will be governed by the terms and conditions of each statement of work entered into between Vulnera and Integrated Cyber, with payments to be made on a monthly basis.
Rapid7 : Rapid7 offers advanced vulnerability management for Integrated Cyber's larger customers. On September 14, 2022, Integrated Cyber entered into a master managed security agreement with Rapid7 (the "Rapid7 Agreement"), which provides Integrated Cyber with a non-exclusive and non-sublicensable right to use and access Rapid7's host of services relating to vulnerability management and assessment. Integrated Cyber is required to pay Rapid7 for use of its services pursuant to the Rapid7 Agreement in accordance with the applicable order form submitted by Integrated Cyber.
In addition to the services offered by Integrated Cyber through its partnerships with Vulnera and Rapid7, Integrated Cyber utilizes its business relationship with DarkWebID to provide affordable dark web scanning services to Integrated Cyber's clients, and Integrated Cyber also offers a Vulnerability Remediation Office program aimed at continuous prioritization, remediation execution, and tracking of a company's vulnerability remediation efforts.
Employee Awareness & Engagement:
Proofpoint Security Awareness: Integrated Cyber has partnered with Proofpoint to provide security awareness and training for its customers' employees. Integrated Cyber has not yet entered into a master services agreement with Proofpoint, however, Integrated Cyber may use Proofpoint in the future depending on their clients' or future clients' needs for Proofpoint's services including training to improve employees' skills and awareness as it relates to phishing and other common cybersecurity attacks and schemes. The Company also provides a service where they execute and manage a customer's ProofPoint software for a monthly fee.
KnowBe4 : KnowBe4 provides security awareness and training to Integrated Cyber's customers. On June 9, 2021 (the "KnowBe4 Agreement"), Integrated Cyber entered into a managed service provider agreement with KnowBe4, whereby KnowBe4 granted Integrated Cyber a non-exclusive worldwide license to use its products subject to timely payment of fees and compliance with the KnowBe4 Agreement. The Company also provides a service where they execute and manage a customer's KnowBe4's software for a monthly fee.
Cyber Insurance:
Cysurance : Cysurance, LLC ("Cysurance") offers cybersecurity insurance to clients in the unfortunate event of a cybersecurity breach. Cysurance is a licensed insurance broker and offers multiple insurance offerings with varying liability limits based on industry. Integrated Cyber has entered into an agreement with Cysurance (the "Cysurance Agreement") to sponsor Cysurance's insurance offerings for the benefit of Integrated Cyber's customers. Integrated Cyber is not licensed to sell insurance, so they broker cyber insurance to interested companies in exchange for a small sales commission.
Building Software IP
Integrated Cyber is building its own proprietary IC360 Platform that leverages generative artificial intelligence (AI) technology to integrate a slew of cybersecurity services, including Managed Detection and Response, Vulnerability Assessment, Email/Collaboration, Active Directory, Endpoint Protection, Employee Awareness, and Engagement Results. The platform will enable the integration of vast amounts of information from third-party software platforms into a Machine Learning (ML) engine that analyzes data generated from multiple sources into AI-driven algorithms, identifying cyber weaknesses and improving clients' security levels.
Integrated Cyber's IC360 Platform will help businesses secure their cyber technology stack by cross-correlating information across multiple siloed software and hardware solutions, allowing for customers to identify potential threats. IC360's use of AI and machine learning will also pinpoint trends and patterns that could indicate a security risk or breach and translate those cyber risks into user-friendly, non-technical insights. Integrated Cyber aims to make cybersecurity understandable and actionable through this innovative platform in a world of fragmented solutions, jargon, and overwhelming noise.
Distribution Methods (Business Development Strategies):
Integrated Cyber has developed different distribution strategies across markets by using the following multi-channel sales and marketing approach:
The Company executes a direct Account-Based Marketing ("ABM") strategy that optimizes resources on a set of target accounts within a market based on measurable user intent targeted toward Integrated Cyber's services. ABM executes targeted campaigns designed for active market buyers by establishing the marketing message, channel, and outreach on the specific attributes and needs of the account.
Outbound lead generation and appointment setting leveraging intent data from Integrated Cyber's ABM data insights.
Direct sales used for outbound prospecting and managing qualified inbound opportunities generated through the ABM and lead generation company.
Strategic partnerships with industry partners that do not compete directly with Integrated Cyber.
Referrals by existing clients as well as personal networks of principals; and Selected events – both online and in-person.
Integrated Cyber's Team
Technology Development and Delivery:
Computer engineers are at the core of Integrated Cyber's technical group, each with 25+ years of technology, cyber, IT, education, and program management experience. The Company's team of expert engineers maintains the IC360 Platform, in which they are responsible for development, prototyping, testing, and production.
Integrated Cyber's software development and service delivery are led by Pete Karolczak, an IT industry veteran with previous experience as a senior vice president with Hewlett-Packard. Karolczak has worked extensively in managed services, service operations, and software development in both enterprises and startups, and brings a proven network of high-quality software engineering partners and talent to Integrated Cyber. One such partner is Silicon Valley-based Xenovus, which provides engineering support to the Company and specializes in outsourced product development with a focus on integration.
Management, Marketing and Sales:
Integrated Cyber's management team is helmed by seasoned executives Alan Guibord, Chief Executive Officer, and Robert Consaga, Chief Financial Officer, responsible for prioritizing funding and compliance requirements. The Company's marketing and sales functions are led by Chief Marketing Officer Kevin Thomas, with 36 years of experience in IT and services marketing, including executive experience with Hewlett-Packard.
Forging Ahead
Integrated Cyber is dedicated to providing SMB and SME companies the same level of cyber protection afforded to large enterprise organizations.
The Company is doubling down on product development as part of its immediate objectives. Enhancements to the IC360 Platform, transitioning to scalable software solutions, and broadening its marketing and sales endeavors—particularly with a planned expansion into Canada—remain top priorities. The imminent addition of a Cyber Specialist salesperson to the team underscores the Company's commitment to expertise and client-centricity.
With its fingers firmly on the pulse of the evolving cybersecurity landscape, Integrated Cyber is poised to redefine how SMBs and SMEs navigate the complex space of cybersecurity.
About Integrated Cyber Solutions
Integrated Cyber Solutions (CSE: ICS) is a managed security service provider ( MSSP ) that humanizes cybersecurity managed services to the Small-to-Medium Business ( SMB ) and Small-to-Medium Enterprise ( SME ) sectors. The Company integrates capabilities from third-party cybersecurity providers, allowing companies to continuously adapt their services to evolving technologies and providers – ensuring customers have access to the latest cybersecurity solutions. Apart from providing essential cybersecurity services, Integrated Cyber's managed services and IC360 technology platform consolidate vast amounts of information to generate actionable intelligence from the numerous software point solutions within their customer's environments. The results enable simple, understandable, and actionable insights to help customers comprehend and better secure their organization. Integrated Cyber greatly emphasizes the human aspect of cybersecurity management, simplifying complex concepts, and highlighting the crucial role that employee behavior plays in a company's cyber defenses.
For further information regarding this press release, contact:
Alan Guibord,
Chief Executive Officer and Director
Email: alan.guibord@integrated-cyber.com
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