Right now, Plurilock is focused on enterprise networks and by focused, I mean they are actively bringing on contract after contract of high-level corporate and government clients. Since the beginning of 2023, the company has announced seven new purchase orders, including one for the U.S. Department of Defense, and seven contract renewals/expansions with existing customers.
Plurilock received a $3.4 million order from the Canadian Department of National Defence. These governmental contracts are tough to land, and once a company has their foot in the door with an initial contract, it usually means the doors (or government coffers!) are open for continued business! The market responded with a stock daily gain of over 9% on March 23rd 2023. Right at an important technical zone but more on that below.
Plurilock Security (PLUR.V) has developed a leading-edge bio-metric platform that not only protects at login, but is able to actively monitor activities throughout a network session and defend where necessary without the need of passwords. With 600+ corporate and government clients, Plurilock has proven their worth as the next generation of cybersecurity.
Now, the company’s efforts are paying off with continually growing base of high-profile enterprise and government clients. Equity Guru founder, Chris Parry, explains the company, its on-going business, future prospects and why investors need to take a serious look at Plurilock.
Plurilock Security (PLUR.V) is a Canadian company focused on cybersecurity solutions that adeptly protect the network at log in and continuously during a network session to ensure that not only did the right person log on, but remains to be the right person throughout the session. All without the use of passwords! Plurilock has gone from great idea to sustainable revenue, and is adding high-profile enterprise and government clients every week.
In this episode of Investor Roundtable, we brought Prit Singh, VP of Investor Relations for Plurilock on as a guest to give us the lowdown on the company, its offerings and why investors should be giving the company serious consideration.
Equity Guru founder, Chris Parry, leans in and lays out the company and its innovative cybersecurity platform, how Plurilock went from great idea to a sustained commercial operation in, and why investors should be seriously considering Plurilock as a candidate for their investment portfolio.
Plurilock kicked off 2023 strong with news of a purchase order for the company’s flagship cybersecurity platform from a US Credit Union. The Credit Union is selecting Plurilock for its cybersecurity solution as part of its zero trust strategy. The customer will license the continuous identity confirmation functionality of the Plurilock platform.
The first cross-sale following the transaction with Atrion Communications was completed within 5 months whereas the previous initial cross-sale orders were secured approximately 13 and 8 months after the acquisition of Aurora Systems Consulting, Inc. and Integra Networks Corporation.
The company is making browser-based ADAPT administration access available to ADAPT customers this spring. It will give administrative access to detailed authentication logs, including contextual evaluations and biometric data, as well as user and enrolment statuses and management and other administrative workflows.
When you sign to your online accounts through a passworded login system, even a two-factor system, the problem with that process is you are, from that point forward, trusted to be who you say you are. But if you nip out for lunch or put your phone down somewhere or someone swipes your laptop at the cafe, the system has no way of knowing that the person on your keyboard isn’t you anymore. This is a BIG deal, especially at high value hacking targets like Fortune 500 companies, banks, brokerages, intelligence services, military, health records, etc etc.
Patterson has taken a single piece of tech IP in the infosec arena and acquired complimentary pieces that allow him to sell an entire suite of tools to potential clients, and those acquisitions have come with existing customers, and reach deep into government, military, and intelligence sectors in ways that would’ve taken years to achieve organically.
For all the good AI can do, it’s currently forbidden at many companies because data put into the AI system can then be used by the AI, or the company that owns it, as data to be learned from or acted upon. Sensitive data, such as medical info, can’t be used in such an environment.
But don’t fret, because our friends at Plurilock are not just standing around watching this chaos unfold. They’re strapping on their armor, diving headfirst into the fray, and wielding their expertise like a mighty sword, slashing through the darkness. They’re not only advising their customers on the ins and outs of AI governance and deployment, but also shoving free resources into their hands. And as part of this wild ride, they’ve found the golden ticket – a revenue jackpot by helping clients dodge the bullets emerging from generative AI tools.
Cybersecurity threats have also arisen from threat actors manipulating ChatGPT and similar AI technologies to generate malicious code, bypassing the built-in safety checks. In a more direct assault, OpenAI confirmed a data breach in ChatGPT caused by a vulnerability in its open-source library, leading to visibility into users’ chat histories and even payment information for some.
In this rapidly evolving landscape of cybersecurity threats, companies like Plurilock Security are leading the charge in providing innovative solutions. Plurilock’s Prompt Guard is a unique tool that can be instrumental in mitigating the risks associated with AI-based systems like ChatGPT.
Parry highlights that Plurilock’s patented technology offers a step up from traditional computer security measures like passwords and logins. The company’s software monitors users’ activities, keystrokes, and patterns in real-time, making it difficult for unauthorized users to access systems. The Canadian Department of Defense, cloud-based real estate and hotel platforms, and large banks and government institutions have all chosen Plurilock for their security needs.
The AI-driven cybersecurity company has been steadily growing and making money. Parry emphasized that Plurilock is a significant player in the computer security industry, which he believes is poised for explosive growth due to the increasing use of AI.
Plurilock has now acquired two companies this year, and raised $5m to expand its sales team while adding to its patent portfolio.
The company’s technology has the power to disrupt the current status quo: Multi-factor Authentication (MFA) – which is widely disliked and unreliable.
Plurilock Security (PLUR.V) announced they have secured an order through GiaSpace, an IT service reseller, to license its advanced continuous authentication software to a regional pharmaceutical manufacturer based in the southeastern United States.
Ian Paterson, CEO of Plurilock Security Systems (PLUR.V), sits down with Chris Parry to discuss the company’s ground-breaking frictionless authentication and what investors can expect over the next 12 months.
Jody Vance interviews Plurilock CEO Ian. L. Paterson.
Plurilock is a cybersecurity company that provides frictionless and continuous authentication using machine learning and behavioral biometrics.
Sportscasting icon, Jody Vance, talks with Ian Paterson, Plurilock Security (PLUR.C), to get a close look at the company, its behavioral biometric authentication solution, and the completed milestones since their last meeting. Tune in!
Jody Vance, well-known Vancouver broadcasting personality, speaks with Ian Paterson, CEO of Plurilock (PLUR.V), a leading developer of frictionless authentication, on the evolution of the password and why we need something better. Tune in!
Plurilock Security Inc. CEO Ian L. Paterson joined Gaalen Engen from Equity Guru to talk about Plurilock going public and the advanced authentication products we bring to the market.