DATA443 Risk Mitigation, Inc. (OTCMKTS:LDSR) has been relentless in its pursuit of growth over the last few years. In the last few months, the firm has won numerous awards, undergone a massive rebranding which was well received by the market and has recently established a relationship with Silicon Valley Bank. In this piece, we provide you with the latest updates on the firm and our expectation of its future performance.
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DATA443 Risk Mitigation, Inc. was established in May 1998, with its head office located in Beijing, China. The company focuses on the provision of data security to clients and the identification of whitespace present in the security services of competitors and filling those gaps using acquired as well as in-house –designed technologies to be delivered to the market. In pursuit of this, the firm already has a dynamic financing and acquisitions unit and a steadily rising Research & Development unit – and both firms act quickly on targeting opportunities (both customer & acquisition candidates) to quickly bring to market. The focus has been majorly placed on developing the present day and next level cybersecurity solutions, both for on-premise and cloud usage.
For more information on the company, check out our previous post here.
A few weeks ago, the firm reported that ClassiDocs, a recent acquisition was selected for significant industry awards for Governance, Data Classification, and GDPR Compliance, during the Cybersecurity Excellence Awards for 2018.
Chief Executive Officer, Jason Remillard, outlined that awards were proof of the high level of performance by the whole team.
“The amount of backing the unit received from was unexpected, but does resemble the amount of response usually received from partners and clients. The ClassiDocs technology was set up to enable most of the requirements of the soon to be released GDPR legislation while also providing additional features such as governance solution and proper data classification,” stated Mr. Remillard.
He went on to congratulate the company’s product team for its role in being selected as the best in three classifications which included data governance and data classification. The GDPR award, done for the first time – also had the ClassiDocs product chosen in first place.
Cybersecurity Insiders CEO, Holger Schulze who created an Information Security Community on LinkedIn with no less four hundred thousand members for organizing the awards event added that for a competition which had four hundred entries competing in roughly 70 categories, the 2018 awards were very competitive and winners must have demonstrated enough to reflect the best in the current cybersecurity industry.
He added that the team has worked very hard on the GDPR functions – inputting functionalities that have been tested and proven to be well used and will provide quick value for customers. Its emerging GDPREngine solution which is to be provided in the Software As A Service model offers even more compliance functionalities and is faster and less expensive to setup and install. The product is to be officially available beta testing by March 2018. The increased demand for its capabilities is proof that GDPR applies very widely.
Earlier in the month, the firm had reported on its new banking affiliation with Silicon Valley Bank, a frontrunner in the banking and financial services industry.
The bank is well known for its relationship and contribution to the technology industry and has inventive financial products that LDSR can leverage especially during its growth phase.
Managing Director of the Bank, Chris Stoecker explained that the bank as very pleased to have added LDSR to its very large client base. With its reputation for working with some of the worlds most creative technology firms and their investors, the bank has long-term plans to remain strong contributors to the progress of all its clients.
Change of Name
Effective from December 2017, the firm’s name was changed from Landstar Inc. to Data443 Risk Mitigation Inc.
According to new Chairman, Jason Remillard, the new branding, and firm name were done to show the central focus of the organization to create risk mitigation and data security solutions. Plans are already in place to engage its acquisition, funding and rebranding strategies. Over the long term, the firm plans to develop its presence in the market and functionalities for clients, company and product acquisitions as well as internal product development.
Data443 Risk Mitigation Inc. is undergoing a massive rebranding in a bid to expand its product and capabilities. Considering that the firm was perceived to be relatively successful in its initial range of products, it is expected that interest in the company will rise as the market becomes more aware of its now larger potential.
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Disclosure: We have no position in LDSR and have not been compensated for this article.