Company’s Award-Winning Product, ClassiDocs™, Selected After Rigorous Vetting Process, Long Term Agreement Signed
RESEARCH TRIANGLE PARK, NC, Jan. 06, 2021 (GLOBE NEWSWIRE) — Data443 Risk Mitigation, Inc. (OTCPK: ATDS), the leading data security and privacy software company for ALL THINGS DATA SECURITY™, is pleased to announce it has started the new year with another significant customer win for its industry leading ClassiDocs™ product which anchors its award-winning Global Privacy Manager™ technology suite. After a long and rigorous vetting process, Data443 was awarded a highly competitive win by a leading global bank headquartered in the Middle East.
This six-figure per year, initial three-year term deal will service the bank’s more than 10,000 employees. The Bank has made its relationship with Data443 a foundational component of its strategic plan to support its ‘cloud first’ approach which rapidly migrate its data and user base to the cloud. This Agreement and its strategic relationship enable the Bank to easily subscribe to Data443’ additional products on an ad-hoc basis.
When the vetting process began in July 2019, competing vendors were required to execute a proof of concept and pilot program that satisfied a ‘designed to break’ criteria, covering a wide swath of use cases, technologies and capabilities that the bank required immediately – and in the future. With a heavy focus on advanced Microsoft Digital Rights Management technologies (Azure Information Protection), and wide-ranging distributed platforms including big data platforms, Data443 was the only vendor that delivered on all fronts and proved to be successful in the proof of concept, resulting in the winning bid. The competitors included many big-name brands, including some that have raised hundreds of millions of dollars recently and profess to be unicorns.
Jason Remillard, CEO of Data443, commented, “We are thrilled to announce another significant customer win, and look forward to working with this prestigious Bank and the entire Middle East region in the coming years. The proof-of-concept process was incredibly challenging but was also rewarding and a major learning experience for us. From this process, we have increasingly adapted these lessons into adjustments to our product line, making ClassiDocs, Global Privacy Manager and the rest of our privacy and SaaS suites even better because of it, and continue to reap the rewards. Our results in 2020 demonstrated that success – even in an incredibly challenging year. 2021 continues to build on that foundation of success and strength. Leveraging the opening of our Dubai office and our new incredible partner in the Middle East, we look forward to continuing to be a leading provider of All Things Data Security!”
About Data443 Risk Mitigation, Inc.
Data443 Risk Mitigation, Inc. (OTCPK: ATDS), is the de facto industry leader in Data Privacy Solutions for 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) ARALOC™, which is 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; (ii) DATAEXPRESS®, the leading data transport, transformation and delivery product trusted by leading financial organizations worldwide; (iii) ArcMail™, which is a leading provider of simple, secure and cost-effective email and enterprise archiving and management solutions; (iv) ClassiDocs® the Company’s award-winning data classification and governance technology, which supports CCPA, LGPD, and GDPR compliance; (v) ClassiDocs™ for Blockchain, which provides an active implementation for the Ripple XRP that protects blockchain transactions from inadvertent disclosure and data leaks; (vi) Data443™ Global Privacy Manager™, the privacy compliance and consumer loss mitigation platform which is integrated with ClassiDocs™ to do the delivery portions of GDPR and CCPA as well as process Data Privacy Access Requests – removal request – with inventory by ClassiDocs™; (vii) Resilient Access™, which 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; (viii) Data443™ Chat History Scanner, which scans chat messages for Compliance, Security, PII, PI, PCI & custom keywords; (ix) the CCPA Framework WordPress plugin, which enables organizations of all sizes to comply with the CCPA privacy framework; (x) FileFacets®, 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; (xi) the GDPR Framework WordPress plugin, with over 30,000 active users and over 400,000 downloads it enables organizations of all sizes to comply with the GDPR and other privacy frameworks; and (xii) IntellyWP, a leading purveyor of user experience enhancement products for webmasters for the world’s largest content management platform, WordPress. For more information, please visit http://www.data443.com.
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 17 April 2020; 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.
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