Data443 Secures Early Renewal & Transition to Pay Per Transaction for its Data Placement Manager Product
$220,000 Annual Recurring Revenue, Multiple Year Commitment
RESEARCH TRIANGLE PARK, N.C., April 13, 2023 (GLOBE NEWSWIRE) — via InvestorWire — Data443 Risk Mitigation, Inc. (OTCPK: ATDS) (“Data443”), a data security and privacy software company for “All Things Data Security,” today announces an additional contract win with a long time, multinational fintech client.
The fintech client provides payment technology and services to merchants, issuers, and consumers, annually transferring over 10 million sensitive files for thousands of partners. Data443, a trusted solutions provider to the client (originally as a customer of DATAEXPRESS®), has provided secure, reliable partnership for the clients’ Managed File Transfer (MFT) solution. Data443’s Data Placement Manager securely processes thousands of sensitive data files on an hourly basis for its clients across the globe.
The Data443 platform provides flexible pricing options like pay-per-file-transfer, removing cost as an inhibitor of innovation. “Our goal is to eliminate the cost barrier to allow businesses to focus on more strategic architectural choices,” stated Jason Remillard, CEO and founder of Data443. “Providing flexible payment options allows our clients who are hybrid-interfacing to solutions like Google Cloud Platform to consume all-you-can-eat software. We are proud to be entrusted with the highly regulated data of our customers, especially given the current climate of increasing security threats. Our strength in major enterprise-enhanced file transfer/managed file transfer (EFT/MFT) positions us to continue growing those relationships as more enterprises leverage the public cloud for scale, cost savings, and disaster recovery.”
According to the Gartner® report “Hype Cycle for Cloud Platform Services, 2022” : Managed file transfer (MFT) is a major market segment, with rapid growth of managed file transfer platform-as-a-service (MFTPaaS) within the segment. Driven by the explosion of data and information that require safe and secure transportation, and ever-increasing levels of collaboration within and outside organizations, MFTPaaS adoption will continue to grow quickly in SMBs and large organizations.
Mr. Remillard continued, “Today’s announcement continues a trend of growing momentum in our client renewals, enhancing our sales and emphasizing driving recurring revenue. The response from our clients has been overwhelmingly positive when pursuing contract renewals, leading to a very full sales funnel that can meaningfully contribute to growing our top line over the next several months. This contract renewal also validates our core acquisition strategy to scale up our business by acquiring long-established companies, incorporating their technology stack and customer base, and delivering world-class service that leads to greater renewals and up-sell opportunities. Our clients’ multimillion-dollar investments in Data443 product lines drive our focus and passion for exceeding our client’s expectations and for All Things Data Security™.”
Data443’s solution is available on Microsoft Azure, Amazon AWS and Google Cloud Platform.
Previous Related Announcements:
Data443 Announces Broad Support for Leading Open-Source (globenewswire.com)
To learn more about Data443, please watch the company’s video introduction on its YouTube channel: https://youtu.be/1Fp93jOxFSg
About Data443 Risk Mitigation, Inc.
Data443 Risk Mitigation, Inc. (OTC: ATDS) provides software and services to enable secure data across devices and databases, at rest and in flight/in transit, locally, on a network or in the cloud. We are All Things Data Security™. With over 10,000 customers in over 100 countries, Data443 provides a modern approach to data governance and security by identifying and protecting all sensitive data regardless of location, platform or format. Our framework helps customers prioritize risk, identify security gaps, and implement effective data protection and privacy management strategies.
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by use of terms such as “expect,” “believe,” “anticipate,” “may,” “could,” “will,” “should,” “plan,” “project,” “intend,” “estimate,” “predict,” “potential,” “pursuant,” “target,” “continue” or the negative of these words or other comparable terminology. Statements in this press release that are not historical statements, including statements regarding Data443’s plans, objectives, future opportunities for Data443’s services, future financial performance and operating results and any other statements regarding Data443’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance, are forward-looking statements. These statements are not guarantees of future performance and are subject to numerous risks, uncertainties and assumptions, many of which are difficult to predict or are beyond Data443’s control. These risks, uncertainties and assumptions could cause actual results to differ materially from the results expressed or implied by the statements. They may relate to the outcome of litigation, settlements and investigations; actions by third parties, including governmental agencies; volatility in customer spending; global economic conditions; inability to hire and retain personnel; loss of, or reduction in business with, key customers; difficulty with growth and integration of acquisitions; product liability; cybersecurity risk; anti-takeover measures in our charter documents; and the uncertainties created by global health issues, such as the ongoing outbreak of COVID, and political unrest and conflict, such as the invasion of Ukraine by Russia. These and other important risk factors are described more fully in our reports and other documents filed with the Securities and Exchange Commission (“the SEC”), including in Part I, Item 1A of our Annual Report on Form 10-K filed with the SEC on Feb. 24, 2023, and our subsequent filings with the SEC. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on the date hereof. Except as otherwise required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.
“DATA443” is a registered trademark of Data443 Risk Mitigation, Inc.
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1Gartner, “Hype Cycle for Cloud Platform Services, 2022” Yefirm Natis | Fabrizio Biscotti, July 19, 2022.
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