LEO CYBER SECURITY PERFORMANCE EXCELS IN Q1
New business growth and organic growth surge
DALLAS – March 4, 2019 – LEO Cyber Security, a Cyber-as-a-Service firm, delivered a record first quarter in 2019 with $1.46 million in revenue, a 66 percent increase over the entirety of 2018. These numbers continue a strong record of revenue growth from $811,000 in 2017 to 2018’s $2.2 million.
“We are producing exciting results through both new growth and expanding our footprint with existing clients,” said David Deering, founder, LEO. “This activity demonstrates the consistent value we bring to protect our clients’ mission-critical data. The level of trust our experienced team has earned is a huge validation of our business model.”
Two new clients this quarter serve as ideal examples of LEO’s sweet spot — organizations with little or no cyber program with marginal, if any, headcount to support it. This includes a mid-market company with 350 employees, where LEO will provide Cyber-as-a-Service (CaaS) to architect, build and perform daily operations, valued at $342,000. Another mid-market financial services client with $645M in assets retained LEO to deliver CaaS in a deal worth $206,555.
The firm also cultivated new business opportunities through organic growth with existing clients. An initial breach assessment project led to a CaaS contract with recurring revenue totaling $120,000 annually. In addition, LEO’s largest client agreed to a three-year extension generating $972,000.
Texas-based LEO is a team of world-class cyber experts that help businesses architect, build, and operate cybersecurity programs, with a focus on underserved businesses.
LEO is a Cyber-as-a-Service security concern comprised of some of the world’s most knowledgeable cyber experts. Its name is a derivation of the Renaissance visionary, Leonardo da Vinci, who refused to accept the status quo. LEO provides both advisory and operational assistance to our customers. With deep cyber skills, LEO is poised to help clients build effective and cost-efficient cyber programs. For more information, visit leocybersecurity.com or follow @LEOCyberSec.