Safe-T’s Newest Consumer Privacy Solution Surpasses 10,000-Subscriber Milestone
HERZLIYA, Israel, Jan. 10, 2022 — Safe-T® Group Ltd. (NASDAQ, TASE: SFET) (“Safe-T” or “the Company”), a global provider of cybersecurity and privacy solutions to consumers and enterprises, today announced that it has reached a monthly recurring revenue (MRR) milestone for its recently introduced privacy solution for Apple mobile devices via the App Store, which is now serving more than 10,000 subscribers worldwide.
2021 witnessed growing demand from consumers looking for effective solutions to keep their identities private, strengthening their online safety and anonymity. Seeking to provide consumers with an alternative to existing, often slow and unreliable VPN technology, the Company’s new privacy solution was launched in early 2021 through a phased product introduction program. Since its launch, the consumer privacy product has recorded significant subscriber revenue growth, averaging over 50%, quarter-over-quarter. The Company ended 2021 with more than 10,000 paid subscribers, with significant presence in the United States. Recently, the Company has seen strong interest in its solution from users in countries that are invoking more restrictive policies for online activity. To capitalize on the growing interest for enhanced consumer privacy, the Company intends to ramp-up global marketing of the product through the first half of 2022 and launching its availability on Android mobile devices and personal computers.
“It is clear that consumers around the world are increasingly seeking solutions to keep their data and online activities private as the need for privacy is no longer only a priority for large organizations, governments and public institutions. VPN solutions have become a mainstream tool, now helping millions of users around the world protect their privacy, and that adoption is accelerating. That is why Safe-T is committed to advancing its privacy offerings with features and capabilities that we believe will further differentiate us in the market,” said Eitan Bremler, VP of Product strategy at Safe-T.
Shachar Daniel, Chief Executive Officer of Safe-T, added, “Since we acquired our consumer products business this past summer, our team has been successful in introducing a number of exciting new products and capabilities, and we are very pleased with their early performance. The growth in our consumer business is a significant factor behind our expected record 2021 financial performance announced last week, driving our full-year revenue above $10 million, a year-over-year growth of more than 100%. We are confident in the potential of our consumer business and look forward to realizing the untapped value we see as millions of consumers seek new cybersecurity and privacy solutions.”
About Safe-T Group Ltd.
Safe-T Group Ltd. (Nasdaq, TASE: SFET) is a global provider of cyber-security and privacy solutions to consumers and enterprises. The Company operates in three distinct segments, tailoring solutions according to specific needs. The segments include enterprise cyber-security solutions, enterprise privacy solutions, and consumer cyber-security and privacy solutions.
Our cyber-security and privacy solutions for consumers provide a wide security blanket against ransomware, viruses, phishing, and other online threats as well as a powerful, secured, and encrypted connection, masking their online activity and keeping them safe from hackers. The solutions are designed for advanced and basic users, ensuring full personal protection for all personal and digital information.
ZoneZero® cyber-security solutions for enterprises, designed for cloud, on-premises, and hybrid networks, mitigate attacks on enterprises’ business-critical services and sensitive data, while ensuring uninterrupted business continuity. Organizations’ access use cases, whether from outside the organization or within the organization, are secured according to the “validate first, access later” philosophy of Safe-T’s zero trust.
Our privacy solutions for enterprises are based on our world’s fastest and most advanced and secured proxy network, enabling our customers to collect data anonymously at any scale from any public sources over the web using a unique hybrid network. Our network is the only one comprised of both millions of residential exit points and hundreds of servers located at our ISP partners around the world. The infrastructure is optimally designed to guarantee the privacy, quality, stability, and the speed of the service.
For more information about Safe-T, please visit safetgroup.com.
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Safe-T is using forward-looking statements in this press release when it discusses growing interest for enhanced consumer privacy, its future marketing plans for the product, the availability of its privacy solution on Android mobile devices and personal computers, the adaption of privacy solutions, the capabilities of its privacy products to respond to market demand and requirements, its expected record financial performance and future growth of the consumer business. Because such statements deal with future events and are based on Safe-T’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Safe-T could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Safe-T’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 22, 2021, and in any subsequent filings with the SEC. Except as otherwise required by law, Safe-T undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Safe-T is not responsible for the contents of third-party websites.
INVESTOR RELATIONS CONTACTS:
Steve Gersten, Director of Investor Relations
Safe-T Group Ltd.
Investor Relations, Israel