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Plurilock - CEO, Ian Paterson.
CEO, Ian Paterson.
Source: Plurilock.
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  • Plurilock Security (PLUR) has released an update on its recent business activities and upcoming opportunities
  • Since April, Plurilock has accumulated US$11.7 million in sales
  • The company continues to expand its portfolio of patented artificial intelligence software to offer a more competitive advantage for its products
  • Plurilock Security is an identity-centric cybersecurity solutions provider for workforces
  • Plurilock Security Inc. (PLUR) is currently down 1.61 per cent, trading at $0.61 per share

Plurilock Security (PLUR) has released an update on its recent business activities and upcoming opportunities.

Since April, Plurilock has accumulated US$11.7 million in sales, with new contracts from major government agencies in defense and healthcare.

“Our rapid sales growth represents is indicative of the demand we are seeing from our growing client base of enterprise customers,” said Plurilock CEO Ian L. Paterson.

The United States government has allocated $18.78 billion to spend on cybersecurity this year, and tech giants including Microsoft and Google have committed to spending over $30 billion on cyber defense over the next several years.

Plurilock’s Technology Division recently renewed its contract with a financial services firm for its cutting-edge continuous authentication product, DEFEND. The original contract signed in September 2020 was worth $42,000.

“Since April 2021, the establishment of our Solutions Division has resulted in more contracts and orders signed, as well as a stronger footprint in the U.S. cybersecurity market,” Mr. Paterson added.

To aid in its growth strategy, Plurilock hired two new staff members: Joel Eng as vice president of information technology and Stephanie Tipple as vice president of marketing.

The company continues to expand its portfolio of patented artificial intelligence software to offer a more competitive advantage for its products.

In 2021, the company filed three U.S. provisional patent applications, focusing on insider threats and remote user authentication.

“Moving forward,” said Mr. Paterson, “we plan to continue securing more clients and expanding our business footprint by executing on our M&A strategy and growth initiatives.”

Plurilock Security is an identity-centric cybersecurity solutions provider for workforces.

Plurilock Security Inc. (PLUR) is currently down 1.61 per cent, trading at $0.61 per share as of 9:39 am ET.

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