Safe-T Group Subsidiary NetNut's Network Doubles Usage Volume Within 1 Month with More Than 36B Requests Processed; Shares Spike Higher

Author: Benzinga Newsdesk | November 11, 2022 09:33am

Safe-T Group Ltd. (NASDAQ:SFET) (TASE: SFET) ("Safe-T" or the "Company"), a global provider of cybersecurity and privacy solutions to consumers and enterprises, today announced a surge in NetNut Ltd., the Company's subsidiary and enterprise privacy network ("NetNut"), that doubled its usage volume and processed over 36 billion customer's requests. The sharp increase in volume is a result of the onboarding of several strategic customers, as well as the expansion of NetNut's network and its ability to process record breaking amounts of requests.

In addition, NetNut achieved three record revenue months, transitioning the business to profitability. The recent growth in revenues is attributed to an increase in activity with major customers in the Counter Ad-Fraud market.

"NetNut's robust network is one of the strongest and most reliable in the market. The scalable infrastructure we redesigned in the past few months, enables us to meet growing demands and continue to scale as we expand with our partners and customers. The latest spike in usage and its ability to handle an over 100% increase in traffic loads within a short period of time, is a vote of confidence for its ability to scale the client's businesses without affecting their performance," stated Shachar Daniel, Chief Executive Officer of Safe-T. "Having a network that supports vast amounts of requests and generates record revenues is something we are very proud of. It is our goal to continue to grow our customer base by utilizing our well-established platform".

Safe-T's enterprise privacy unit, NetNut, provides businesses with the ability to gather mass amounts of public web data fast. The Company has invested significant resources in re-designing its network architecture in recent months.

Posted In: SFET