Special Report: Aussie cybersecurity innovator Datasec Solutions working with AusTrade and AustCyber to raise capital and aggressively expand operations thanks to security app Cryptix
Printers and multifunction devices are a central part of the day-to-day operations of offices, hospitals and schools around the world.
In recent years, they’ve become a favourite target of hackers, because they store a lot of document data on the device in order to function.
Melbourne-based Datasec Solutions has developed Cryptix, a cloud-based trust platform which solves the problem of sharing data between trusted and untrusted parties (such as your printer).
Working with Austrade and AustCyber, the company’s Cryptix application has caught the eye of OEM Hewlett-Packard and is now available via HP’s Workpath cloud platform, which opens up a market of 60 million devices worldwide.
Paul Waite, Solutions Director, Datasec said, ‘With Cryptix, we’ve created something special in Australia that can quickly scale into a global business solution. By working closely with HP, we aim to have 100,000 devices utilising Cryptix by the end of 2022, making the day-to-day operations of thousands of enterprises more secure.”
Cryptix utilises “one-time pad” encryption technology, a digitised version of the same encryption technique used by spies and undercover agents for decades and the only universally accepted form of uncrackable encryption for secure messaging.
Critical to its success is the company’s simple business model of US$1 per day, per device. As the business looks to aggressively expand its operations in new markets, that simplicity will be key to sustaining growth, according to Mr. Waite:
“The North American market is 38 times bigger than ours for print devices. Aggressive expansion into that market, as well as APAC, is our next priority. We’re working with Austrade and AustCyber to raise the funds we need to make this next step possible and have our sights set to ultimately IPO in the next few years,” he concluded.