Cyber-safety and security company Family Zone Cyber Safety (ASX: FZO) has updated the market with respect to its ongoing growth and expansion in both Australia and overseas.
The company says that following a strong end to 2017, its “education sales team is back in the field pursuing new customers,” as well as “upgrading and renewing” existing customers.
To date, Family Zone has achieved contracted revenue exceeding A$4 million and recurring revenue exceeding A$3 million.
Given the strong take-up of its unique cybersecurity solution, the company expects that as it expands awareness of its service functionality, it will be in a natural position to secure larger commercial deals in both Australia and overseas.
One such deal with Aircel was announced last week, with Family Zone looking to establish similar deals in other territories.
As a calendar month, January represents the off-season for sales due to the holiday break. Despite the seasonality of its sales and customers growth, Family Zone has surpassed 140 partner schools who subscribe to its range of educational products aimed at children.
According to Family Zone, its partner schools are educational institutions that will promote Family Zone cyber safety products to their school community, and ultimately, secure additional commercial revenue for Family Zone.
Linewize on track for April launch
One of Family Zone’s flagship product launches will be the cloud-managed firewall and filtering platform: Linewize.
Late last year, Family Zone raised over A$5 million to integrate its Linewize innovation into its service line-up. Linewize integration is “proceeding rapidly” with a view of being fully integrated into Family Zone’s School Zone offering by the end of April 2018, according to a shareholder market update.
Commercially, Linewize has the potential to scale-up Family Zone’s existing activities while drastically improving their cost-effectiveness. As an example of its ultimate potential, Family Zone says that Linewize is already able to “support 260 schools with less than 2 full-time staff,” and “can operate on hardware costing some 10-20% of the cost of comparable alternatives.”
The synergistic combination of School Zone and Linewize will provide tools and services to support school cyber safety and security while introducing features that reduce the burden on parents when managing online security.
Family Zone also expects Linewize to “propel Family Zone’s on-premise solutions well beyond the competition,” as the company continues experiencing a marked rise in consumer engagement, traffic and trials for its range of cybersecurity products.