January 6, 2023
TORONTO, January 6, 2023 – Cybeats Technologies Corp. (“Cybeats'' or the “Company”)(CSE: CYBT) is pleased to provide an update on the commercial success of its SBOM Studio platform, with several recent contract announcements with large multinationals from various industries. These agreements, including the company's largest commercial agreement to date, demonstrate the growing demand for SBOM Studio. Additionally, the company is actively engaged with several Fortune 500 companies piloting SBOM Studio.
Integral Ad Science (Nasdaq: IAS), a global leader in digital media quality and advertising technology, has signed at two-year license to Cybeats SBOM Studio on December 4, 2022. Ensuring that ads are viewable by real people, their mission is to be the global benchmark for trust and transparency in digital media quality for the world’s leading brands, publishers, and platforms.
"We have seen firsthand the benefits of using SBOM Studio at our organization. Not only does it provide valuable insights for informed decision making at the executive level, but it has also significantly improved the efficiency of remedying software vulnerabilities across our entire company. The ROI of implementing SBOM practices with the help of Cybeats' SBOM Studio has been impressive, and the tool has greatly reduced the effort required to safeguard our valuable software assets. We highly recommend SBOM Studio to other organizations looking to strengthen their cybersecurity posture,” said Robert Janecek, CIO, Integral Ad Science.
“Cybeats has now signed several large global leaders across a broad spectrum of industry verticals, providing important market validation of our SBOM Studio solution and invaluable implementation experience across a variety of sectors," said Yoav Raiter, CEO, Cybeats Technologies Corp. “The industry is quickly recognizing our market-leading technology, and combined with our real-world experience, is translating into a growing pipeline of large opportunities to carry us through 2023 and beyond.”
Cybeats recently signed and announce a a three year contract with a global leader in energy management and automation solutions. The multi-year SBOM Studio engagement will see Cybeats’ leading solution deployed with the global infrastructure leader to reduce the cost of securing its products by streamlining the discovery and resolution of software vulnerabilities across the organization.
"We are excited to have received endorsements from such renowned customers and hope to use this momentum to build confidence in our future prospects across a variety of market verticals," said Bob Lyle, CRO of Cybeats. "SBOM Studio offers strong unit economics and the potential for rapid scaling through large deal sizes, as demonstrated by recent agreements with some of the largest companies in the world across diverse industries."
Cybeats recently announced a licence and services agreement with a Fortune 500industrial technology company, which manufactures products and provides services to clients worldwide. The pilot with this client started in late 2022, which involved evaluating multiple solutions, and ultimately ended with Cybeats’ SBOM Studio winning the contract.
Some of the notable ongoing SBOM Studio pilots with Fortune 500 companies from various industries include:
• Smart building technologies, software and services company
• Medical technology and devices company
• Top five largest diversified video game and entertainment company
Cybeats was able to list publicly on the CSE in November 2022 and was soon thereafter added to the CSE25™ Index on the Canadian Securities Exchange. As a requirement for inclusion in the CSE 25 Index, a company must fall within the top quartile of eligible securities listed on the CSE by market capitalization.
SBOM Studio is a solution to the pressing issue of cybersecurity vulnerabilities across the global software supply chain. With the increasing frequency of high-profile cyber attacks and new regulations around the world, it is more important than ever for organizations to prioritize the protection of themselves and their customers. SBOM Studio provides a comprehensive solution to this problem, enabling companies
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