SideChannel Inc. (SDCH) Simplifies Cybersecurity by Matching SMBs with Virtual Chief Information Security Officers to Reduce Internal Costs

  • Cyberattacks on SMBs have increased due to the changing network landscape due to the increase in remote and in-office workers relying on cloud environments, mobile devices, software applications, and thir,.d-party suppliers to conduct business
  • SideChannel announced its preliminary revenue of $4.6 to $4.8 million for the fiscal year that ended September 30, 2022 – a 64% to 71% year-over-year increase from the company’s revenue of $2.8 million during the fiscal year 2021
  • SideChannel continues to expand its service offerings, workforce, and customer base and has attracted over 20 vCISOs to serve across industries, including fintech, biotech, healthcare, manufacturing, legal defense, and technology services

Cybersecurity protects networks, information, and personal data from being vulnerable to cyberattacks. According to ReportLinker, the global cybersecurity market was valued at $150.37 billion in 2021 and is expected to reach a value of $312.02 billion by 2027, growing at a CAGR of 13.37%. The trends driving growth in this market include BYOD, AI, IoT, and machine learning; coupled with the significant reduction in device costs, increasing the number of connected network devices is driving the growth of the market. The emergence of 5G is also expected to expedite the use of connected devices in the industry, pushing toward industrial revolution 4.0 (https://ibn.fm/siJ6Y).

Reports have shown that cyberattacks on SMBs (small and mid-sized businesses) have increased due to the changing network landscape, with remote and in-office workers increasingly relying on cloud environments, mobile devices, software applications, and third-party suppliers to conduct…

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NOTE TO INVESTORS: The latest news and updates relating to SDCH are available in the company’s newsroom at https://ibn.fm/SDCH

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