August 13, 2021
A graduate of the U.K. Alacrity program, portfolio company Hut Six provides cybersecurity awareness training through a digital SaaS platform. The company enables clients to customize, deliver, track and measure the effectiveness of online security training, and conduct ongoing audits to address the single biggest vulnerability companies face — their unsuspecting, unprepared employee workforce.
The world over, the media is full of reasons for organizations to increase their defenses against malicious cyber and security attacks. Increasingly, employees themselves are the targets by which hackers, thieves, criminal gangs, state actors and others gain access to exploit a company. To implant spyware, to steal funds, to infect key computing infrastructure and orchestrate a ransom attack, and more. Their tactics for these attacks are evolving all the time, and staff in junior through to senior roles are potential victims. At work and at home.
The good news is that Hut Six is providing a valuable solution to battle back against these criminals. Increasing employee awareness of the risks and tactics, increasing their levels of caution and even suspicion in their daily digital activities, improving their ability to detect potential attacks — all help plug an otherwise unwitting gap in a client’s defenses.
And the market response bares out these claims. This Quarter saw Hut Six pass the 30,000-user mark on their online platform, driving their monthly recurring revenues (MRR) to new levels as a result. Early customers are renewing their software subscriptions. Active lead numbers are increasing steadily. Referrals are bringing new clients to the table. The demand for trials/proof of concepts (PoC’s) continues to rise. Partnership opportunities are emerging. All data points to the fact the company has a software solution timed extremely well for increasing global demand.
To fuel ongoing growth, continued software enhancements are being made available. A new ‘phishing simulator’ is being promoted to entice prospects into testing their own levels of current defense, and letting the results guide their next steps. Client and partner webinars focused on these additional features are being delivered. Client onboarding processes are being made easier. Work is being done with industry analysts to spread the word further. And special ‘cyber-shorts’ videos are being crafted to help individuals and families educate themselves against cyber threats outside a work environment, where the potential for risk is no less.
The Hut Six team is leveraging current successes to generate future ones. These are exciting and encouraging times for the company, and we look forward to continued progress. Hutsix.io