Plurilock Security (PLUR.V) has received another contract with a California state agency, this time with the California state healthcare agency worth $400,00 USD.
This comes two weeks after they signed a contract with a California state agency worth $133,000 USD, an order which they completed last week.
This deal comes after a steep rise in cyberattacks on healthcare providers in recent years.
This deal comes after a steep rise in cyberattacks on healthcare providers in recent years. According to a Bitglass study, 2020 saw a 55% increase in healthcare cyberattacks from the year before. They estimate that the attacks impacted the protected health information (PHI) of 26 million people in the US. If these cyberattacks were spread out evenly across the US, that would likely mean more than 3 million people in California had their PHI impacted.
Along with the growing frequency of these attacks, the cost for the industry is also growing. Cyberattacks against the healthcare industry totalled over $13 billion last year. Healthcare in the US is a popular target amongst hackers because of the differing cybersecurity of hospital systems and the value of keeping medical documents private. This mismatch between the value of their information and the quality of protection has made healthcare providers a prime target for ransomware. By signing a deal with Plurilock, the California state agency is looking to change that.
Ransomware attacks have been gaining increased attention recently, especially after Colonial Pipeline was the victim of a cyber ransomware attack by the DarkSide hacking group, shutting down oil flow to the south-eastern United States.
PLUR is increasing their footprint on the US biggest state and the home of Silicon Valley.
Following the Colonial Pipeline cyber attack and PLURs first deal with a California state agency I wrote “After the recent Colonial Pipeline ransomware attack, many companies and agencies have likely realized they are exposed to cyber-attacks. If that feeling of vulnerability sticks with this California state agency and Plurilock is able to show them they have weaknesses that PLUR can protect, this contract could develop into something more.”
Well, it seems that feeling of insecurity has crept into other agencies, or its possible that Plurilock has been well recommended by the first agency they signed with. Whatever happened, PLUR is increasing their footprint on the US biggest state and the home of Silicon Valley.
Following today’s news, Plurilock shares are down half a cent, and are currently trading at $0.485.
Full disclosure: Plurilock Security is an Equity Guru marketing client.