$1.5M Prepaid by Customer with Additional Spending Commitments
Follows Update on Accepted Application to List on Nasdaq
RESEARCH TRIANGLE PARK, NC, Oct. 07, 2021 (GLOBE NEWSWIRE) -- Data443 Risk Mitigation, Inc. (“Data443” or the “Company”) (OTCPK: ATDS), a leading data security and privacy software company, announced in follow-up to its disclosure of the Company’s progress on its recently accepted application for listing on the Nasdaq Stock Market (“Nasdaq”), that its leadership in securing data within the fintech space continues to expand with its most significant order to date.
This seminal contract for Data44 (to date) with the world’s largest global financial services corporation is for a minimum of $1.54 million over three and ½ years for the Company’s market-leading Data Placement Manager™ (formerly marketed as DATAEXPRESS Non-Stop) operating on the HPE Non-Stop platform. This contract was executed in the third quarter of 2021, with the customer prepaying $1.54 million to Data443.
This agreement caps months of partnered negotiations and includes provisions for potential extensions of the deal, as well as additional consumption during the current contract term. There are also provisions for consumption with HPE’s Virtual Non-Stop offering, of which Data443 is fully compatible and for which Data443 continues to add capabilities.
This contract represents a prime example of the growing importance many financial organizations attach to Data443’s data security and privacy framework. This organization, in particular, has experienced a better than six nines (99.9999%) availability with Data Placement Manager™. For over six years running, Data Placement Manager™ has experienced less than 31 seconds of unscheduled unavailability – and, in most years, zero seconds. Unheard of in most industries, this indicates the performance, quality, and importance of many of the service offerings provided by Data443.
Jason Remillard, CEO and founder of Data443, commented, “Today’s announcement reflects an incredible opportunity for Data443, as well as our partner in fintech, along with all of their thousands of downline financial institutional customers – and finally, their over 1 billion indirect clients. The numbers are huge, and the impact is enormous, with the stakes being extremely high. In some of the most treacherous conditions, we continue to deliver reliably, professionally, and with fortitude to our clients. Our continued investments in R&D, support, and our balanced approach to business growth continues to derive benefits for our clients, and we are very thankful for this commitment from our partner.”
Data443 filed a Registration Statement with the Securities and Exchange Commission (“SEC”) on June 04, 2021. The SEC has informed the Company that the SEC will not undertake further review of the Registration Statement, thereby clearing the way for the effectiveness of Registration Statement and capital raise that would be conditioned on a Nasdaq listing, which remains subject to the review and approval and the satisfaction of all applicable listing and regulatory requirements. No assurance can be given that the application will be approved. During the Nasdaq review process, the Company expects that its common stock will continue to be traded and quoted on the Pink Current Information Tier of the OTC Markets under the symbol ATDS.
About Data443 Risk Mitigation, Inc.
Data443 Risk Mitigation, Inc. (OTCPK: ATDS), is an industry leader in All Things Data Security™, providing software and services to enable secure data across local devices, network, cloud, and databases, at rest and in flight. Its suite of products and services is highlighted by:
(i) Data443® Ransomware Recovery Manager™, built for the modern enterprise, its capabilities are designed to recover a workstation immediately upon infection to the last known business-operable state, without any end user or IT Administrator efforts;
(ii) Data Identification Manager™ (previously marketed as ClassiDocs™ and FileFacets®), the Company’s award-winning data classification and governance technology, which supports CCPA, LGPD and GDPR compliance in a Software-as-a-Service (SaaS) platform that performs sophisticated data discovery and content search of structured and unstructured data within corporate networks, servers, content management systems, email, desktops and laptops;
(iii) Data Archive Manager™ (previously marketed as ArcMail®), a leading provider of simple, secure and cost-effective enterprise data retention management, archiving and management solutions;
(iv) Sensitive Content Manager™ (previously marketed as ARALOC™), a market leading secure, cloud-based platform for the management, protection and distribution of digital content to the desktop and mobile devices, which protects an organization’s confidential content and intellectual property assets from leakage — malicious or accidental — without impacting collaboration between all stakeholders;
(v) Data Placement Manager™ (previously marketed as DATAEXPRESS®), the leading data transport, transformation and delivery product trusted by leading financial organizations worldwide;
(vi) Access Control Manager™ (previously marketed as Resilient Access™), enables fine-grained access controls across myriad platforms at scale for internal client systems and commercial public cloud platforms like Salesforce, Box.Net, Google G Suite, Microsoft OneDrive and others;
(vii) Data Identification Manager™ (previously marketed as ClassiDocs™) for Blockchain, provides an active implementation for the Ripple XRP that protects blockchain transactions from inadvertent disclosure and data leaks;
(viii) Data443® Global Privacy Manager™, the privacy compliance and consumer loss mitigation platform which is integrated with Data Identification Manager to do the delivery portions of GDPR and CCPA as well as process Data Privacy Access Requests – removal request – with inventory enables the full lifecycle of Data Privacy Access Requests, Remediation, Monitoring and Reporting;
(ix) IntellyWP, a leading purveyor of user experience enhancement products for webmasters for the world’s largest content management platform, WordPress;
(x) Data443® Chat History Scanner, which scans chat messages for Compliance, Security, PII, PI, PCI & custom keywords; and
(xi) GDPR Framework™, CCPA Framework™ and LGPD Framework™ WordPress plugins, with over 30,000 active site owners combined, enables organizations of all sizes to comply with European, California and Brazilian privacy rules and regulations.
For more information, please visit http://www.data443.com.
Forward-Looking Statements
The statements contained in this release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “pursuant,” “target,” “continue,” and similar expressions are intended to identify such forward-looking statements. The statements in this press release that are not historical statements, including statements regarding Data443’s plans, objectives, future opportunities for Data443’s services, future financial performance and operating results and any other statements regarding Data443’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts, are forward-looking statements within the meaning of the federal securities laws. These statements are not guarantees of future performance and are subject to numerous risks, uncertainties, and assumptions, many of which are beyond Data443’s control, and which could cause actual results to differ materially from the results expressed or implied by the statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict, and include, without limitation, results of litigation, settlements and investigations; actions by third parties, including governmental agencies; volatility in customer spending; global economic conditions; ability to hire and retain personnel; loss of, or reduction in business with, key customers; difficulty with growth and integration of acquisitions; product liability; cybersecurity risk; anti-takeover measures in our charter documents; and, the uncertainties created by the ongoing outbreak of a respiratory illness caused by the 2019 novel coronavirus that was recently named by the World Health Organization as COVID-19. These and other important risk factors are described more fully in our reports and other documents filed with the Securities and Exchange Commission (“the SEC”), including under (i) “Part I, Item 1A. Risk Factors”, in our Registration Statement on Form 10 filed with the SEC on January 11, 2019 and amended on April 24, 2019; (ii) “Part I, Item 1A. Risk Factors”, in our Annual Report on Form 10-K filed with the SEC on March 23, 2021; and, (iii) subsequent filings. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on the date hereof. Except as otherwise required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.
The Data443™ logo, ClassiDocs™ logo, ARALOC™ logo, ARCMAIL®, DATAEXPRESS® and FILEFACETS® are all registered trademarks of Data443 Risk Mitigation, Inc.
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All other trademarks cited herein are the property of their respective owners.
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