House-grown cyber security outfit Web 2.0 – which counts the US Express Department as its easiest client – is gunning for the ASX boards.
Facet street Pronounce understands the Australian and US-based entirely business has factual closed a $1.5 million seed funding spherical and now had PAC Companions helping it stitch collectively a $1.2 million pre-IPO capital elevating.
The pre-IPO elevating implies a $12 million valuation for Web 2.0, and modified into expected to be followed by an IPO at some point spherical November this 365 days.
The firm is illustrious in Australian cyber security circles and generated $1.2 million earnings closing 365 days from its three business divisions. It sells its assemble cyber security hardware merchandise, acts as an information superhighway carrier supplier (ISP) and affords cyber security consulting.
Web 2.0’s hardware is designed to be outmoded on present IT infrastructure methods to offer protection to them against cyber assaults, and is scalable to switch well with companies of any size.
At fats manufacturing skill, Web 2.0 can personal ten of its hardware devices per week and desires to make employ of cash raised within the pre-IPO spherical to expand its manufacturing skill, based entirely on a presentation in front of likely merchants.
The firm stated its ISP companies and products “personal 70 per cent earnings margin on each and every engagement,” the slide deck stated.
Founded by tech entrepreneur and cyber security expert Robert Potter and former Australian military intelligence officer David Robinson, it counts the US Express Department as regarded as one of its foremost purchasers and is known to be profitable.
Its heavy-hitting advisory board involves senior cyber security adviser to Barrack Obama Chris Painter, former Myer CEO Richard Umbers, serial director Arlene Tansey and Stone & Chalk CEO Alex Scandurra.
Get a foremost undercover agent at day after recently’s headlines
Be a part of to the Facet street Pronounce First Stare newsletter
Sarah Thompson has co-edited Facet street Pronounce since 2009, specialising in internal most equity, funding banking, M&A and equity capital markets reports. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at firstname.lastname@example.org
Anthony Macdonald co-edits Facet street Pronounce, specialising in internal most equity, funding banking, M&A and equity capital markets. He has 10 years’ journey as a business journalist and labored at PwC, auditing and advising monetary companies and products companies. Connect with Anthony on Twitter. Email Anthony at email@example.com