Wangle has an eye on $45b family cybersecurity market
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Special Report: Wangle is stepping up its fight for a share of the $45 billion family cybersecurity sector.
Wangle’s core technical platform is its accelerated Virtual Private Network (VPN) which forms the basis of its family cyber-safety software, Wangle Family Insites.
Instead of blocking unsavoury sites, Family Insites monitors useage patterns in real time, advising parents of potential threats as well as providing greater detail and resources to help educate families about identified threats.
Threats, or “risk scenarios”, include cyberbullying, out-of-hours movements tracked via GPS, and the use of dangerous apps or web content. It also counts how much time is spent on games, social media and messaging.
Wangle (ASX:WGL) chief Sean Smith says demand for Family Insites means downloads have been building at a strong pace.
“We’ve taken key learnings from the initial post-launch period and used them to improve the areas that need it most,” he told Stockhead.
“We quickly learned the complexity of configuring our product, made it harder for some parents to get the platform set up and working, so we’ve focused on changes to that process to make it much simpler for parents and less intimidating, and to ultimately increase the number of active subscribers of the product.”
The company recently raised almost $2 million to invest in brand and customer acquisition strategies as it looks to target Australia’s 6 million families before taking the software international.
Since launching the Insites product in November Wangle has had more than 17,000 downloads of the Apple and Android versions of the mobile app.
Wangle’s approach — combining technology with educational resources — has been welcomed by cyber safety groups and the education sector, including the Western Australia Primary Principals Association which recently endorsed the product.
The short-term goals are to build a library of behavioural data on children and adolescents to enable further research into usage patterns and to help improve the product prior to a planned program of international expansion.
The longer term goal is to use that data to build a more advanced prediction engine using machine learning.
“Improving the user experience after initial customer feedback has been the focus recently, with a product release due out in days.
“That will be followed by an aggressive push for domestic distribution partners before a focus on international expansion,” Mr Smith said.
This special report is brought to you by Wangle.
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