Safe-T Group Ltd. (Nasdaq: SFET) (TASE: SFET) (“Safe-T” or the “Company”), a global provider of cybersecurity and privacy solutions to consumers and enterprises, today announced that NetNut Ltd., the Company’s wholly owned subsidiary and enterprise privacy network (“NetNut”), is expanding the use case range of its product offering into a new market segment with the addition of new leading cybersecurity firms to its customers portfolio. NetNut’s network allows cybersecurity companies that are providing open-source intelligence (OSINT) services as well as vulnerability assessment and penetration testing services, to carry out their operations in a smooth and scalable manner by using NetNut’ leading solution.
“Our products performance, productivity and reliability combined with our strong business development team, attracts new customers from additional high potential sectors,” said Eitan Bremler, VP Product Strategy, Marketing at Safe-T. “The privacy and cybersecurity sectors share much in common, and we have been able to leverage our expertise and attract new customers. According to the latest Fortune Business Insights report, the global cybersecurity market is projected to grow from US$155.8 billion in 2022 to US$376 billion by 2029, exhibiting a CAGR of 13.4% during such period1. It is surely a tremendous market with great opportunity, and we are proud to enter this market and anchor it as one of our growth channels. Our solution provides cyber security companies with the ultimate tool to identify potential threats and potentially prevent future attacks.”
NetNut recently announced it has doubled its usage volume and processed over 36 billion customer’s requests. The sharp increase in volume is a result of the onboarding of several strategic customers, as well as the expansion of NetNut’s network and its ability to process billions of requests.
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