Plurilock™ spots and monitors unauthorized credential use all day long—no extra devices, steps, or workflows

Record total revenue of $15.8 million in Q1 2023

Sponsored
Plurilock Security Solutions Inc. Profile

 

Detect compromised credentials and sessions in real-time, invisibly.

Plurilock™ spots and monitors unauthorized credential use all day long—no extra devices, steps, or workflows. 

The Plurilock family of companies enables organizations to operate safely and securely while reducing cybersecurity friction. Plurilock is a zero-trust leader that offers world-class IT and cybersecurity solutions through its Solutions Division, paired with proprietary, AI-driven and cloud-friendly security through its Technology Division.

Plurilock is reimagining the authentication paradigm to be a continuous, ever-present identity score, rather than a static password prompt at a single point in time. We use behavioral biometric data – the way you move your keyboard and mouse – to create an identity signature that is completely unique to you, like a digital key.

Our solutions continuously monitor throughout the day, every 3-5 seconds to ensure that the person using the device is the always right person, and support a zero trust architecture.

 

 

The global cybersecurity market size is forecast to grow to $345.4 billion by 2026.

Until now most people think of firewalls, passwords, biometrics (fingerprints & facial scans) and two-factor authentication when it comes to cybersecurity.

And those are the dominant solutions today, the bad guys are winning the war right now when you consider the following:

Cybercrime is expected to cost the world $6 trillion in 2021. By 2025, this figure will climb to $10.5 trillion  Packet Labs

Plurilock brings an entirely different and exciting approach to cybersecurity - authenticating a person’s identity using behavioral biometrics. 

Following the acquisition of Aurora Systems Consulting Inc., a provider of advanced cybersecurity technology and services based in California, Plurilock divided its operations into two divisions, namely the Solutions Division (Aurora’s products and services) and the Technology Division (Plurilock’s proprietary AI-driven solutions).

 

FULL-DAY PROTECTION

Ensure that credentials and people match—both before and after login.

Plurilock's machine learning technology knows when credentials and sessions are compromised—by understanding the imperceptible patterns that mark the intended user's keyboard, pointer, daily commute, and other movements. 

 

 

An Attractive Business Model

Plurilock intends to acquire companies that offer synergistic opportunities and cross-sell its high-margin products and services through existing distributions channels to drive sales growth and increase its gross margins.

 

 

 

 Plurilock was founded in 2016 as a result of groundbreaking academic research that created a novel technique for authenticating a person’s identity using behavioral biometrics.

This breakthrough provided distinctive, radical benefits over traditional biometric technologies. The researchers applied this new “behavioral-biometric” science to the movements involved in mouse and keyboard activity. By observing this motion over time, the technology could continuously confirm identity.

Following several years of strategy and product development, Plurilock secured initial contracts with marquee customers in finance and defense, and in 2020 pursued public listing with the TSX Venture Exchange and then the OTCQB Venture Market to further the company’s growth.

Today, Plurilock’s team includes decades of B2B, cybersecurity, and technology experience, senior cyber officials such as VADM Mike McConnell on its board, and recently made its first acquisition in California.

 

TSXV: PLUR

  • Behavioral biometrics. Machine learning. Continuous authentication.

  • Plurilock™ is an identity-centric cybersecurity company that protects enterprises.

Because advanced authentication and robust digital identity are the keys to modern cybersecurity

 

HOW IT WORKS

Patented behavioral biometrics. Invisible identity verification.

Plurilock DEFEND relies on patented behavioral biometrics and machine learning technology to recognize users simply by the way they work—never what they are working on.

lWhen user mouse movement and keystroke cadence match their usual behavior, logs reflect little or no risk.

lAs keyboard and pointer movements begin to seem unusual for the user, medium risk events are logged.

lWhen a configurable risk threshold is crossed, DEFEND notifies security staff and logs illicit activity.

 

 

 

HOW IT WORKS

Augmented behavioral biometrics.
True identity verification.

Every user types with recognizable movement patterns, no matter what they're actually typing. When combined with machine learning, these patterns provide a strong identity signature.

Plurilock ADAPT spots and stops illicit credential use by analyzing this and other identity signals together:

 

· Typing biometrics

· Geolocation and travel

· Time of day

· Network and environment context

· Device ID and fingerprinting

 

It’s better than incumbent MFA—unstealable, invisible to users, and privacy-ready. Not what they type, but how; not what they do, but how they get there; not the user's name or their body, just their patterns. 

 

Plurilock™ Enables Critical Systems to Both Restrict and Guarantee Access at the Same Time, Seamlessly

 

For systems that need maximum access control but also maximum accessibility, identity-as-a-signal using Plurilock DEFEND™ can be the optimal solution.

Critical systems are a tricky problem in most organizations. They're not just critical because bad things will happen if they go down—they're also critical because they're central to the operation of the business day-to-day.

This puts them at the center of a knotty security paradox, in which they are called to have two seemingly incompatible characteristics:

  • Access to them is difficult. That is to say, the most stringent criteria need to be met to access them, with everyone else excluded—otherwise, these most important systems are left open to attack.
  • Access to them is guaranteed. That is to say, if at any given time they need attention someone must, without fail, be able to rapidly log in and provide it. Without this prompt attention whenever needed, the consequences to the business can be catastrophic.

Reported Third Quarter Fiscal 2022 Financial Highlights

  • Hardware and systems sales revenues for the three and nine months ended September 30, 2022 accounted for 82.4% and 85.9% respectively of total revenues compared to 91.0% and 89.6% for the three and nine months ended September 30, 2021. Software, license and maintenance sales revenues for the three and nine months ended September 30, 2022 accounted for 17.3% and 13.6% respectively compared to 8.5% and 8.8% for the three and nine months ended September 30, 2021. Professional services revenue for the three and nine months ended September 30, 2022 accounted for 0.3% and 0.5% respectively of total revenues, compared to 0.5% and 1.6% for the three and nine months ended September 30, 2021.
  • Gross margin for the three and nine months ended September 30, 2022 was 5.8% and 6.7% respectively compared to 3.7% and 5.3% in the prior year for the same periods.
  • Cash and cash equivalents and restricted cash on September 30, 2022 was $3,428,861 compared to $9,468,104 on December 31, 2021.
  • During the three and nine months ended September 30, 2022, the Company used $87,247 and $6,217,459 respectively of cash from operating activities compared to the Company generated cash of $1,904,265 and $327,717 in the prior year for the same periods.
  • Announced the increase of the Aurora line of credit ("ASC LOC") from Pathward National Association
  • Plurilock announced the addition of Patrick Gorman to the Company's Advisory Board
  • Plurilock announced US $12.76 million in new orders and contracts which included multiple U.S governmental agencies such as the U.S. Department of Defense, U.S. Department of Energy and US library of Congress

 

 

LATEST ACQUISITIONS AND CONTRACTS

  • Plurilock Signs Multi-Year Contract Renewal for Flagship Cybersecurity Software with Muthoot Finance

  • Plurilock Expands Contract for Flagship Cybersecurity Platform with Overseas Mortgage Lender
  • Plurilock Announces Contract Renewal for Flagship Cybersecurity Platform with International IT Solutions Provider
  • Plurilock Announces Contract Renewal for Flagship Cybersecurity Platform with Canadian Auto Dealership
  • Plurilock Announces Sale Order for Flagship Cybersecurity Software with U.S. Healthcare Software Solutions Provider
  • Plurilock Announces Contract Renewal for Flagship Cybersecurity Software with Overseas Fintech Company

 

 

The following list outlines the terms of the Aurora purchase orders:

  • A California state taxation agency, totaling US$167,000, for software subscriptions and maintenance support.
  • NASA through the SEWP V program, totaling US$130,000, for software renewal and maintenance support.
  • U.S. Air Force through the SEWP V program, totaling US$109,000, for software renewal and maintenance support.
  • U.S. Air Force through the SEWP V program, totaling US$124,000, for hardware.
  • U.S. Department of the Navy through the SEWP V program, totaling US$112,000, for software renewal and maintenance support.
  • U.S. Department of Commerce through the SEWP V program, totaling US$217,000, for software renewal and maintenance support.
  • U.S. Department of the Navy through the SEWP V program, totaling US$104,000, for hardware and software support.
  • U.S. Department of Defense through the SEWP V program, totaling US$203,000, for hardware and maintenance support.

 

 

AWARDS 

 

  

 

Last changed at 09-Aug-2023 01:25PM by AGORACOM-AC