Cipherpoint Limited (ASX:CPT), Sydney, Australia 17 March 2021 – Cipherpoint is pleased to
announce that it has signed a Reseller and Managed Services Security Provider Agreement with
Israel based XM Cyber. The Agreement will enable CPT to offer XM Cyber solutions, which are
intended to be offered through its proposed subsidiary Brace168.
XM Cyber’s ability to automate and systemise attack simulation provides a unique and cost-effective
approach to identify and mitigate security risks before they are exploited. Attack simulation is now a
critical part of Enterprise cyber defences and is rapidly growing to be a billion dollar market within
the much larger cyber security market.
The system-based capability is ideally suited for integration with the managed services of Brace168.
CPT intends that Brace168 will offer XM Cyber capability as an enhanced service on its cyber security
platform across the financial property, manufacturing, infrastructure, technology and health sectors
(including both ASX50 and ASX200 companies).
Brace was established in 2017 and offers managed detection and response services to medium and
large-scale businesses and enterprises, based in North Sydney. The functionality of the managed
detection and response platform of XM Cyber is intended to be deployed widely by Cipherpoint
through the Brace168 business. It represents an opportunity for Brace to market to new clients or
extend current offerings to existing clients to generate incremental managed service revenue.
XM Cyber is the global leader in Attack-Centric Exposure Prioritization that closes gaps in cloud and
physical network security. Customers can rapidly identify and respond to cyber risks affecting their
business-sensitive systems because the platform continuously calculates every potential attack path.
Detailed remediation options are prioritized based on the potential impact, including exploitable
vulnerabilities and credentials, misconfigurations, and user activities.
XM Cyber was founded by top executives from the Israeli cyber intelligence community and has
offices in the US, UK, and Israel. In July 2020 XM Cyber closed a $17 Million Series B Funding Round
with Macquarie Capital, Nasdaq Ventures, Our Innovation Fund, and Swarth Group. XM Cyber has
been recognised by numerous industry awards including Named a Top 100 Cybersecurity Startup for 2020.
Uri Levy, XM Cyber SVP Worldwide Sales and Field Operation said ‘This partnership with Cipherpoint
is an exciting development for XM Cyber to extend its platform through a managed service offering
initially in the Australian market then beyond. Both parties have already identified some clear
opportunities they will actively pursue. We welcome the CPT/Brace168 to the XM Cyber partner
Cipherpoint Chairman Mr Ted Pretty said “The Agreement with XM Cyber will mean that Brace168
will have one of the most sophisticated MSSP offerings in the market and XM Cyber will be able to
makes its advanced functionality to a broader range of enterprises and agencies in the market.
Brace168 will offer XM Cyber capability as a further layer of service on its cyber security platform
servicing the financial property, manufacturing, infrastructure, technology and health sectors
(including both ASX50 and ASX200 companies). We expect the offering to enable us to increase
revenue per customer and open up new opportunities.”