The Safe-T Group (SFET) security company is up 15% pre-market on news that a national Israeli utility has adopted its Software Defined Perimeter technology.
In the cyberattack age, Safe-T Group has emerged as a leader in cybersecurity with its Zero Trust Network Access program that offers various benefits over traditional VPN tunnel options.
By going beyond perimeter security, Safe-T helps with threat evaluation and response, lowering vulnerabilities within a system. Part of the value of this approach is helping companies to build security into complex networking landscapes, including the use of both public and private cloud in new hybrid cloud systems.
Now, Israeli public planners have ordered $144,000 worth of the company’s SDP with perpetual licensing.
“Organizations are now moving away from solutions that secure only the corporate perimeter and are instead seeking the zero-trust model in order to protect sensitive data and resources,” Noam Markfeld, Safe-T Group’s VP Sales said in a press statement. “As the Zero Trust Network Access market continues to gain momentum, we are proud that our SDP solution was selected by the utility provider over the competing options.”
On its website, Safe-T maintains detailed presentations showing how the zero trust access set up works and how it can mitigate both internal and external threats, and how this type of solution can help with hybrid cloud operations.
“Safe-T allows exposure and access to applications, services and networks only after assessing trust, based on policies for authorized user, location & application,” write company representatives. “Safe-T protects organizations from data exfiltration, leakage, bots, malicious insiders, malware and ransomware.”
In raising the company’s stock to around $1.80, this news reverses a cycle and helps Safe-T to climb out of a trough at a value not seen since a month ago.
Watch over the coming days to see whether wider adoption spurs this penny equity forward.