Why this $12m ‘trust company’ is about to take a huge leap
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Special Report: archTIS, a tech company specialising in protecting sensitive information, has been making significant progress ahead of the launch of its flagship product, Kojensi Gov.
archTIS Limited (ASX:AR9), established in 2006, is preparing to launch Kojensi Gov, a platform for the sharing and collaborating of sensitive information.
The launch follows the recent announcement that the Commonwealth Attorney General’s Department had expanded its existing beta program to include the Aged Care Royal Commission.
Kojensi Gov will allow the sharing and collaboration of highly sensitive and classified information between government agencies, as well as industry bodies, thereby ensuring greater protection for Australians.
It sets archTIS up to reap the benefits at a time where the nation’s security is a growing focus of government efforts, with $200 billion allocated to build defence capability, and $570 million allocated to the Australian Federal Police (AFP) and Australian Security Intelligence Organisation (ASIO) for counter terrorism.
Company CEO Daniel Lai told Stockhead that its mission and technology was born out of the September 11 attacks that took place in 2001.
“The number one issue was that US intelligence agencies didn’t trust one another to share information,” he said. “If intergovernmental and industry agencies were working together, it was found that could have mitigated or minimised the effect of that attack.
“In the aftermath, the Australian and US governments signed a treaty to share highly classified information during the War on Terror, but we did not have a platform at the time to share top secret information. We built that platform back in 2006.”
archTIS listed on the ASX in September last year after raising $8 million, and currently has a market cap of $12 million.
But it has been quietly making significant progress, not surprising for a company with more than 10 years’ experience delivering secure information and identity management services and solutions within the highest security levels of the Australian government.
archTIS expects the software-as-a-service (SaaS) platform to begin producing valuable recurring revenues, with expenditure on research and development to materially decrease.
This follows a gigantic 657 per cent boost in revenue for the 2018 half-year, up to $902,434.