- SideChannel is on a mission to make cybersecurity simple and accessible for mid-market and emerging companies, a market that is currently underserved
- The company matches client organizations with virtual Chief Information Security Officers (“vCISOs”) who help them with developing and managing the implementation of an information security program
- SideChannel’s efforts come amid rising cases of cyberattacks, driven by an increase in attack surfaces and agility of attackers, who now work in organized groups, according to CEO Brian Haugli
- Recently, for example, Gateway Casinos & Entertainment Limited Closed 14 properties in Ontario following a cyberattack
Cyberattacks are growing each year as hackers and ransomware gangs become more agile, and the attack surfaces increase. In 2022, for example, global attacks grew 38% compared to 2021 numbers (https://ibn.fm/26Jmm). Worse still, the global cost of cybercrime is expected to rise to $8 trillion in 2023, up from $3 trillion in 2015 and $6 trillion in 2021, according to a 2022 report (https://ibn.fm/YQ4YS). This cost accounts for damage and destruction of data, lost productivity, theft of intellectual property and financial data, post-attack disruption to the normal course of business, reputational harm, forensic investigation, and restoration and deletion of affected systems.
With a recent cyberattack on its computing infrastructure having forced Gateway Casinos & Entertainment Limited (“Gateway”) to close 14 properties across Ontario for close to a week (https://ibn.fm/2Np93), the cost implications are clear for all to see. One of the largest and most…
NOTE TO INVESTORS: The latest news and updates relating to SDCH are available in the company’s newsroom at https://ibn.fm/SDCH
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