Data Breaches on Massive Annual Scale Underscore Importance of Cybersecurity Service SideChannel Inc. (SDCH) Delivers to SMBs

  • An estimated 30,000 website data breaches occur each day on average
  • Hacker targets include everyone online, ranging from small businesses to large and complex government agencies
  • Massachusetts-based SideChannel Inc. delivers the services of chief information security officers (“CISOs”) on a contract basis to companies that don’t have budget capacity to maintain CISOs on staff full-time but desire protection against cyber threats
  • SideChannel’s virtual CISOs work alongside company board officers to assess and strategically target operational risks
  • SideChannel announced a strategic partnership last month with automated supply chain risk management platform developer Darkbeam that will strengthen SideChannel’s service offering

Cyber threats have become a standard concern for businesses working to maintain their operational integrity, with hackers accounting for an estimated 30,000 websites that are compromised on average each day. Techjury reported that the entire cost of cyberattacks in 2022 was $6 trillion and that the figure is expected to rise to $10.5 trillion by 2025 (https://ibn.fm/TjyS7).

The recent leak of timely international intelligence-related documents classified as not available for public review by the U.S. government’s information-gathering agencies has demonstrated that even government experts in the field are vulnerable to the possibility of data breaches and costly consequences resulting from the breaches, whether cyber-based or not, emphasizing the critical importance of information security (https://ibn.fm/rPEZH).

Cybersecurity services and technology provider SideChannel (OTCQB: SDCH) is building a brand designed to help organizations protect themselves from online threats.

“The cybersecurity profession is now akin to legal, and accounting, and insurance (operational divisions),” SideChannel CEO Brian Haugli stated in a live company webcast recently (https://ibn.fm/XYXl1). “When we look inside of organizations at the enterprise level we see the CISO (chief information security officer) right there with HR (Human Resources), and GC (General Contracting), and Internal Audit and other C-suite members for a reason. Because that’s how important it is for that organization’s success to address cybersecurity as an operational risk at an enterprise level.”

SideChannel’s flagship service is providing “virtual” CISOs as hired cybersecurity guns for companies unable to maintain an experienced cybersecurity leader on staff full-time. The vCISOs can work alongside a company’s officers in the boardroom to provide information and analysis on current threats to the company’s systems.

“We can deliver an entire program and manage that for the mid-market, because that’s how the mid-market buys. That’s what they’re looking for,” Haugli said during the webcast. “They really want, not just the tools, they don’t want just the capability and then (for us to) walk away. They want a partner who can come in and manage and run that for them.”

SideChannel strengthened its offering last month when it announced a strategic partnership with London-based cyber intelligence provider Darkbeam to deliver stronger intelligence-led cyber risk management programs to businesses looking to protect their own operations as well as the provenance of their supply chains (https://ibn.fm/06kZP).

The Darkbeam partnership also helps companies access timely direction on cyber risk management during the merger and acquisition process, and insurance underwriting regarding cyber risks, thanks to Darkbeam’s automated vulnerability assessments service as well as monitoring of the dark web for data exposure.

Darkbeam’s Watchlist feature allows Category Managers to continuously monitor suppliers over time and assess any changes to risk levels within a supplier.

For more information, visit the company’s website at www.SideChannel.com.

NOTE TO INVESTORS: The latest news and updates relating to SDCH are available in the company’s newsroom at https://ibn.fm/SDCH

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