Plurilock wins behavioral biometrics purchase order from Canadian defense agency
Plurilock Security subsidiary Integra Networks Corporation has received a purchase order from the Canadian Department of National Defence to provide continuous authentication with behavioral biometrics.
Integra will supply the Defence Research and Development Canada with Plurilock DEFEND, which the company updated early in 2022.
The contract represents the first government customer win for Plurilock and its subsidiaries.
“As a Canadian company, it’s great to be able to take the experience that we have gained in the US and apply it within our domestic market,” says Plurilock CEO Ian L. Paterson. “This is a key validation for the DEFEND product and we are looking forward to working with more Canadian governmental clients.”
Paterson also says the deal clearly indicates the benefits of Plurilock’s M&A strategy.
The terms of the purchase order were not disclosed.
The announcement notes a planned increase in spending on cybersecurity technologies by the Canadian federal government, and Plurilock’s plans to address that market.
Paterson has also been named an Entrepreneur in Residence at the Catalyst Cyber Accelerator at Toronto Metropolitan University (formerly Ryerson), according to a LinkedIn announcement.
Integra secures $1.5M in credit
Integra has also secured a revolving line of credit for $1.5 million from Pathward, National Association, which is a division of MetaBank.
The loan will be used for working capital, and is secured with current and future assets by Plurilock and Integra.
Completes CloudCodes acquisition, plans cloud product roadmap
The CloudCodes asset acquisition announced last year has been completed by Plurilock, according to a company announcement.
Plurilock CLOUD has been developed, at first to integrate with, and later take over for behavioral biometric login authentication product Plurilock ADAPT.
“This transaction represents a major milestone for CloudCodes as we will be part of a fast-growing organization that will supply our unique CASB products to the North American market,” says Debasish Pramanik, co-founder of CloudCodes. “We are excited about the new opportunities that await us, and we look forward to working with the Plurilock family of companies in developing the next generation of cybersecurity solutions.”
CloudCodes generated CA$572,000 (approximately US$435,000) in revenue in its fiscal year ended March 31, 2022.
Plurilock also announced the acquisition of assets from behavioral biometrics provider Atrion Communications in August.
behavioral biometrics | biometrics | Canada | continuous authentication | cybersecurity | government purchasing | Plurilock | stocks