Website security provider Cloudbric has announced its split from web and data security enterprise provider Penta Security Systems, thereby creating two independent companies with distinct business strategies beginning December 1, 2017. With over 20 years of IT expertise, Penta Security Systems first created Cloudbric as an in-house venture with the idea of bringing accessible security to all. The separation best positions Cloudbric and Penta Security Systems to capitalize on their respective expertise in the rapidly changing cybersecurity landscape.
The decision to separate has provided Cloudbric with the independence and flexibility it needs to grow its cloud-based web security services, as it strays away from traditional software and hardware appliances. Following this current trend in cloud computing has enabled Cloudbric to have a more competitive edge by allowing it to react to market and consumer demands more quickly. The split will advance Cloudbric’s growth trajectory and also allow both companies to develop their own vision and core values.
Cloudbric has already seen tremendous growth, acquiring 27 IDCs (Internet Data Centers), 50 partnerships, and 8,000 user sign-ups all within the span of the past fiscal year. Consisting of young and talented core members, developers, security analysts and researchers, Cloudbric was able to realize these accomplishments and more. With the Korean government pouring millions into funding startups and small businesses with grants and other tax incentives, Cloudbric, too, has successfully received its first round of investments from not only the Korean government but also secured investments from a local venture capital firm. Currently at a $10 million business valuation, Cloudbric expects to see even more venture capital funding in the near future.
“In order to reach a wider range of websites and establish a global presence, the Cloudbric team is constantly evaluating and exploring new opportunities to optimize our service and create value for investors. Because we now have the opportunity to fully realize our growth potential, our commitment to helping users become secure online is now greater than ever. Our goal is to generate long-term value for our customers,” says TJ Jung, newly named CEO of Cloudbric.
Cloudbric is looking to take on creative approaches to grow its service in the upcoming year through innovative projects that incorporate elements of deep learning and blockchain technologies. With a mission to help even the smallest organizations attain accessible security, Cloudbric is moving closer to achieving that goal with its projects and global partnerships. The company will continue to explore alternative business opportunities for its global expansion.