After raising over $5 million over the last few weeks, identity verification cybersecurity company Plurilock (PLUR.V) has immediately put some of that cash into expanding its direct sales team.
Given the rising demand for cybersecurity solutions across various industry verticals, the expansion of the direct sales team will increase Plurilock’s outreach in delivering authentication solutions to a wider audience. The new members of the direct sales team will be tasked with executing numerous sales initiatives to promote the company’s cybersecurity offerings to companies in North America in order to grow Plurilock’s client base.
The company has said the first hire has depth in ‘organizational development and client relations’, while the next is ‘a U.S. Armed Services veteran who has held leadership roles in cybersecurity and information technology within large financial services firms and information security companies such as BNY Mellon and JP Morgan Chase.’
“The expansion of our direct sales team represents an integral step for us to grow our North American client base,” said Ian L. Paterson, chief executive officer of Plurilock Security. “By expanding our direct sales team, we hope to engage more companies across various sectors that require a strong cybersecurity infrastructure.”
The new hires have been granted stock options to help secure their services.
The $0.48 financings slowed a significant market run for PLUR stock, which had briefly touched as high as $0.84, with the company now beginning to pick up steam again with that fattened cash balance putting Plurilock in a good position to grow over 2021.
Plurilock’s big selling point is it provides identity verification that reduces, or even eliminates, the need for passwords and multiple authentication steps b utilizing behavioural-biometric, environmental, and contextual technologies to ‘provide invisible, adaptive and risk-based authentication solutions with the lowest possible cost and complexity.’
By analyzing keystrokes, work habits and particular tendencies specific to each individual, Plurilock can tell if an employee has sat at someone else’s desk with their computer still logged in, be detecting variations in how that computer is used.
The company sits at a $23 million market cap.
— Chris Parry
If you’re interested in a closer look at Plurilock and its leadership, tune in to Vancouver broadcasting legend, Jody Vance’s interview with CEO, Ian L. Paterson!
FULL DISCLOSURE: Plurilock is an Equity.Guru marketing client.