Overview
With 1 billion malicious programs installed and more than half a million new pieces of malware produced worldwide each day, cybersecurity threat actors are growing progressively better and causing greater damage to businesses than ever before.
While large corporations typically have the resources to deal with cybersecurity threats, they still get hit. In September 2023 Johnson Controls International confirmed that a ransomware attack cost the company $27 million in expenses and led to a data breach after hackers stole corporate data.
However the cost of a single ransomware attack to small and medium-sized businesses (SMBs) could be devastating – making them perfect targets for cybercriminals.
Research firm Cybersecurity Ventures predicts the cost of cybercrimes will reach $10.5 trillion annually by 2025.
According to Gartner Group and Mckinsey research, SMBs, those with less than 500 employees, remain a market category with global cybersecurity sales estimated at more than $40 billion. But with threats often come opportunities. SMBs represent a highly underserved segment in the global cybersecurity market, and one cybersecurity company is tapping into this multi-billion-dollar opportunity.
This is where Integrated Cyber Solutions (CSE:ICS) (FSE:Y4G), who offers a comprehensive suite of tools designed to protect small and medium businesses from threat actors offers investors a compelling speculative opportunity to gain exposure to the cybersecurity boom .
Integrated Cyber Addresses the Top Ten Cybersecurity Threats Facing Businesses
1. Ransomware
Global ransomware attacks have reached epidemic proportions, with cybercriminals employing increasingly sophisticated methods to infiltrate and encrypt sensitive systems and data. By 2031, ransomware is expected to cost its victims as much as $265 billion, according to research firm Cybersecurity Ventures.
2. Social Engineering
Based on findings from IT security firm Trend Micro, over 75 percent of cyberattacks start with an email and 85 percent of all data breaches involve human interaction. It has always been far easier to manipulate a human being than it is to target a software vulnerability. This will continue to remain the case for the foreseeable future, particularly given the sharp increase in cryptocurrency-related attacks.
3. Third-Party Exposure
As the world continues to shift towards interconnected digital ecosystems, supply chain attacks will become increasingly prevalent. The perfect example of this in practice, the result of compromised credentials and an outdated VPN, was the Colonial Pipeline breach in May 2021. The Colonial Pipeline is one of the most vital pipelines in the US, and was a victim of a ransomware attack that shut down the pipeline’s digital systems, and ultimately affected the supply chain on the East Coast.
4. Insufficient Cyber Hygiene
A little mindfulness goes a long way in protecting a business’s systems and data. Unfortunately, cyber hygiene is one area where many businesses fail entirely. Over half of IT professionals don’t mandate two-factor authentication and most organizations rely on human memory for password management.
5. Cloud Vulnerabilities
Cloud software has become increasingly essential of late. Unfortunately, this has served to amplify its security risks even further. The past five years have seen a 150-percent increase in cloud vulnerabilities according to a 2021 IBM report, while a Data Breach Investigations Report stated over 90 percent of data breaches in 2021 were the result of compromised web apps.
6. The Internet of Things
IoT devices are now ubiquitous in both our personal and professional lives. Unfortunately, they’re also a cybersecurity nightmare. Even though the market has been around for years, the majority of smart devices are still hampered by outdated software, poor encryption and an overall lack of built-in security.
7. Configuration Mistakes
It’s not always a phishing email or targeted attack that causes a breach. Often, cybersecurity incidents are the result of human error. According to a survey by Ponemon Institute, more than half of IT experts don’t even know if the cyber security tools they’ve installed actually work.
8. Improper Mobile Device Management
Mobile devices are a long-standing bugbear for security professionals due to a constant stream of device and application vulnerabilities. To make matters worse, threat actors have recently begun targeting mobile device management systems, potentially giving them control over a company’s entire device fleet.
9. Poor Data Management
Without a clear idea of where its data is and how that data is used, it’s almost impossible to identify a breach in a timely fashion. Fortunately, this is one risk category where businesses seem to be on top of things. Experts have predicted that this year will see businesses place increased emphasis on storing only the data they need.
10 Inadequate Cyber Forensics
What a business does after being attacked is just as important as how it protects itself. Yet many businesses don’t bother with proper post-breach forensics, leaving them open to a repeat attack. In 2021, a survey by Cybereason found 80 percent of victims who paid to remove ransomware experienced a second attack shortly afterwards.
Integrated Cyber is bridging one of the longest-standing gaps in the cybersecurity market: cybersecurity expertise.
Led by a team of former Fortune 100 chief information security officers, Integrated Cyber Solutions has a well-defined growth strategy and a comprehensive product portfolio that delivers security services to a perpetually underserved and high-potential SMB market.
“Threat actors have access to powerful tools like ChatGPT, which can generate polymorphic malware code that can avoid detection, or even better, write a convincing email. What a fun time to be a security professional,” said Craig Porter, director advisory for Gartner’s security research and advisory team, in Gartner’s 2023-2024 Cybersecurity Outlook report.
It’s no surprise the global cybersecurity market is booming. Fortune Business Insights estimates it will reach $376 billion by 2029 at a compounded annual growth rate of roughly 13.4 percent. In spite of this, many organizations remain perpetually unprepared to defend against a cyberattack – and this despite having a cybersecurity plan in place.
A Gartner survey in the U.S, U.K. and Germany found that 41 percent of organizations had experienced an AI privacy breach or security incident. For SMBs, navigating the complexities of a constantly evolving cybersecurity threat landscape is even more challenging.
The choices for cybersecurity solutions and services are plenty. To a layperson, the technical jargon is nearly impossible to understand. These solutions are not only challenging to implement and integrate, but also to operate, especially on a 24x7 basis. Often, these solutions do not address all vulnerabilities and most SMBs simply lack the resources to even keep pace with the fast-moving threats of cyber criminals.
Integrated Cyber addresses these cybersecurity challenges by bringing together best-in-class capabilities from multiple third-party cybersecurity providers, allowing it to continuously evolve as it delivers managed services to SMBs.
Third-party Partners Include: KnowBe4 (NASDAQ: KNBE), Proofpoint (NASDAQ: PFPT), Bitdefender, Rapid7 (NASDAQ: RPD), Tenable Holdings (NASDAQ:TENB), and Fortinet (NASDAQ: FTNT).
Future-proof Investment in Cybersecurity; more demand than ever before
Some 3.5 million cybersecurity jobs are expected to remain unfilled through 2025, based on research from Cybersecurity Ventures. There simply aren't enough experienced professionals to keep up with demand. As a result, full-time cybersecurity professionals now operate at a premium that's unaffordable for most companies, particularly SMBs. It has also resulted in a sharp upturn in managed services.
This has created a cybersecurity conundrum for SMBs: on the one hand, it’s only through third-party expertise that they can hope to deal with cyberattacks and sophisticated threats; on the other hand, getting such third-party expertise can come at an exponential price.
Most enterprise cybersecurity vendors focus on large corporations that can afford their price tag, essentially making SMBs the forgotten middle child of the cybersecurity market. They're too small to catch the attention of enterprise cybersecurity vendors, yet their security needs are too comprehensive and complex for consumer-grade protection.
This creates a significant opportunity for an SMB-focused cybersecurity service provider to grab hold of this underserved market.
And if market performance is any indication, this creates a strong investment opportunity.
Cyber Security Valuations are Growing
Cybersecurtity ETF's are outperforming the market:
- WisdomTree Cybersecurity Fund (NASDAQ: WCBR) rose 41.34 percent
- ProShares Ultra Nasdaq Cybersecurity ETF (NASDAQ: UCYB) rose 36.91 percent
- Global X Cybersecurity ETF (NASDAQ:BUG) rose 23.42 percent
- First Trust NASDAQ Cybersecurity ETF (NASDAQ: CIBR) rose 22.74 percent
- ETFMG Prime Cyber Security ETFMG Prime Cyber Security Fund ( NYSEARCA: HACK) rose 20.95 percent
Other cyber security vendors have also done well in the stock market, including: Palo Alto Network (Nasdaq:PANW), which rose 82.84 percent; Crowdstrike Holdings (NASDAQ:CRWD) rose 66.82 percent; Zscaler( NASDAQ) at +49.65 percent; Rapid7 ( NASDAQ:RPD) +41.65 percent; and Fortinet (NASDAQ: FTNT) +34.11 percent.
This is a large part of what gives Integrated Cyber its incredible growth potential. SMBs need cybersecurity tools just as much as any organization, yet have very few options with regards to where they can find them.
The expertise Integrated Cyber’s management team brings to the table comes from years of working in the security sector. They know what works and what doesn't.
And that makes Integrated Cyber an incredibly attractive investment.
Intelligent, Purpose-Built Product Portfolio for the Small and Medium sized Business
The security market is a complicated and noisy place, marked by heavy investment into complex technology stacks. Integrated Cyber cuts through the noise with a fully owned portfolio that integrates and correlates data from multiple systems to provide a single, understandable source of truth.
Integrated Cyber’s portfolio is focused on three vital security pillars, tied together with artificial intelligence.
Vulnerability Management
Vulnerability management begins with the proactive identification and remediation of potential cyber risks and threats. As a trusted advisor, Integrated Cyber provides teams with the expertise and manpower they need to improve their security posture. Services include:
- One-time assessments
- Penetration testing
- Remediation program management and services
- Continuous vulnerability scanning
Cyber Training & Awareness
Roughly 80 to 90 percent of cybersecurity issues occur because an employee does something they aren't supposed to do. Integrated Cyber addresses this through a modern, prevention-focused approach to cyber education that transforms employees into the best defense instead. Services include:
- Employee awareness
- Cyber training
- Phishing tests
- Reporting and analytics
Managed Detection & Response
According to Gartner, roughly 50 percent of organizations are expected to leverage managed detection and response by 2025 — and with good reason. Managed Detection & Response (MDR) augments organizations with the expertise, manpower and functionality they lack, providing cybersecurity resources through a managed services framework. Integrated Cyber offers the following:
- Endpoint protection
- Small business MDR
- Enterprise MDR
- SIEM, SOC and SOAR
Integrated Cyber is Fighting AI Threats with AI
Artificial intelligence has fundamentally changed the nature of cybersecurity. It allows organizations to provide personalized security training, gain insights from massive threat intelligence datasets and detect and respond to threats automatically. Unfortunately, most businesses lack the expertise to incorporate these tools.
And they're just as effective at cracking security as they are at improving it. The unpleasant reality is that cybersecurity has always been a perpetual arms race between security professionals and adversaries. Artificial intelligence and machine learning simply represent the latest battleground.
Unfortunately, the threat actors are winning. The current cybersecurity industry consists of hundreds of point solutions addressing different threats, approaches and environments. A security stack built from these solutions is unsustainable even for a business that does possess the necessary resources to maintain it.
Artificial Intelligence at the Core of Integrated Cyber’s IC360
Integrated Cyber is incorporating AI technology across its applications to keep customers safer than ever before, creating an intelligent platform that arms SMBs with the same level of protection as large corporations. Its IC360 platform consolidates its entire product portfolio into a powerful command center characterized by the following:
- A single pane of glass for managing and monitoring security services
- A response center consisting of threat intelligence, playbooks and notification management
- A powerful integrated scheduler that encompasses all cyber-related activities
- Insights, correlation and threat intelligence
- The IC360 data lake; a single source of truth for all cyber platforms
- Microservice and workflow orchestration
Company Leadership
Alan Guibord - CEO
35+ years of global IT and management experience. Co-founder of The Advisory Council International
Alan R. Guibord, a US ARMY Veteran, and retired professional race car driver has more than 35 years of global IT and management experience and is one of the co-founders of Integrated Cyber. He is also co-founder of The Advisory Council International. The Advisory Council International, an organization of over 25 former Fortune 100 CIOs providing technical guidance to Board-level and C-suite executives as well as coaching and direction to IT Leaders. Profits are donated to charityDuring his career, he has served as the President and CEO of Computerworld, a media firm for IT Executives, CIO of Fort James Corp., a multi-billion dollar consumer products company, CIO of RR Donnelley, multi-billion-dollar commercial printer. Mr. Guibord has also been a member of several key executive boards, including Oracle, and Microsoft and other organizations both in the public and private sectors including the Grocery Manufacturers Association, The University of Illinois Chicago Centre for Research in Technology and The Chicago Library Foundation.
Al is a graduate of Merrimack College, MA, where he earned a Bachelor of Science in Business Management/Accounting. He has completed graduate courses in Business Administration from New Hampshire College. He has also written a book on Leadership published by John Wiley and sons.
Pete Karolczak - COO
30+ years of experience in IT, IT services, software and consulting for organizations ranging from Fortune 10 companies to early-stage startups.
Pete is a member of the Integrated Cyber Executive Team bringing over 30 years of experience in IT, IT Services, Software and Consulting spanning fortune 10 global enterprises to early-stage startups.
Previously Pete held several executive positions at Hewlett-Packard. As SVP/GM of IT Outsourcing, Pete was responsible for the global 15B+ IT Outsourcing business, including managed security services, enterprise cloud and mobility services. He was former SVP of HP’s Global IT Operations organization and CIO of the Consumer Business Unit. Excelling in massive-scale organizational change, he led one of the world’s largest IT infrastructure transformations and previously spearheaded one of the largest merger integration programs in HP’s history. Pete obtained a Bachelor Degree in Mathematics and Computer Science from Stanford University. Pete is also an avid photographer, expert world traveler, and an accomplished artist.
Kevin Thomas - CMO
36+ years of marketing, sales enablement and sales operation experience across multiple technology companies in multiple industries
As a highly experienced marketing professional with over three decades of expertise in technology marketing, Kevin has spearheaded marketing and communication initiatives for many companies throughout his career. His experience spans a wide range of industries, including telecommunications, data storage, geospatial mapping, web hosting, data center services, and more.
Throughout his career, he has excelled at establishing and guiding top-notch marketing campaigns, emphasizing the importance of marketing and communication through a customer-focused approach. Whether working with a Fortune 50 corporation, multiple start-ups, or several mid-level businesses, he has always been committed to delivering the best results.Kevin's success in the industry is attributed to his ability to understand and meet each customer's unique needs and his expertise in creating compelling content. He takes great pride in his ability to create marketing campaigns that truly resonate with audiences and is always eager to take on new challenges and opportunities.
Robert Consaga - CFO
35+ years of financial management experience with both Fortune 100 companies and smaller organizations.
Bob has more than 35 years of financial management experience and is responsible for the financial management of Integrated Cyber. He started his career working for a Fortune 100 company and then for an International Public Accounting firm where he worked with multiple small businesses and start-up companies in high tech, real estate, construction and multi-national companies where he specialized in providing tax strategies and planning opportunities to companies with sales that ranged from $20 million to over $1 billion.
Bob founded a CPA firm in his name in 1991 where he has provided financial and tax services to small and medium sized businesses and senior executives in the manufacturing, high technology, retail, construction, real estate and professional industries, as well as individual tax clients. He has participated and has been an integral part in many sales, merger and acquisition transactions in the printing, publishing and High-Tech industries.
He graduated with a Bachelors Degree in Accounting from Northeastern University and is a member of the American Institute of Certified Public Accountants, the New Hampshire Society of Certified Public Accountants and the National Association of Certified Valuators and Analysts.
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