Cycurion Inc. CYCU, the IT cybersecurity solutions and AI company, is capitalizing on its growing backlog and positioning itself to become a leader in protecting the IT infrastructures, digital assets and networks of the private sector as well as government agencies from global cyber security threats.
The company brings years of experience, knowledge, and tools it developed for top-level government agencies to help businesses of all sizes protect themselves from the ever-evolving threats of bad actors laser-focused on stealing data and information for fraud, espionage and financial gain.
For more than a decade, Cycurion has provided expansive, capable and adaptive IT solutions to major government agencies, including the U.S. Department of Defense, the Department of Homeland Security, the U.S. Navy and the Defense Intelligence Agency, among others. In the private sector, it protects the IT infrastructures, digital assets and networks of a slew of Fortune 100 and 500 companies. In the healthcare space, it recently inked a deal with the National Association of County and City Health Officials (NACCHO), the voice of the over 3,300 local health departments across the country.
Through its partnership with NACCHO, Cycurion will make available its Managed Security Services Platform (MSSP), Cyber Shield, to NACCHO members. This collaboration addresses key challenges in the healthcare industry and could be the framework for future partnerships in a market that is forecast to reach more than $878 billion by 2034.
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According to Cycurion, there is a severe shortage of trained cybersecurity professionals in the healthcare industry at a time when there are rapidly evolving security compliance requirements. What’s more, many healthcare facilities fall short when it comes to comprehensive cybersecurity programs, policies and procedures, making them vulnerable to data breaches and cyber attacks. Add the fact that there is low cybersecurity awareness among employees, limited visibility into emerging threats and inadequate IT infrastructures, and it is no wonder there has been an explosion of data breaches and financial losses in the healthcare sector, reports Cycurion.
Cycurion’s Cyber Shield suite of tools addresses all those problems, equipping NACCHO members with enterprise-grade security solutions, expert guidance and cost-effective cybersecurity services tailored to the unique demands of local public health agencies, reports the company. The deal with NACCHO is expected to bring in $20 million in revenue for Cycurion.
The company has already secured $89 million in contracts, $69 million recently, including a $33 million contract renewal to enhance cybersecurity for state-level public higher education institutions over the next five years, a $22 million multi-year contract with a state police agency to upgrade and secure their communications infrastructure, a $6 million contract with a major municipal transportation agency for improved cybersecurity measures and $8 million in new contracts announced in June, further underscoring Cycurion’s position in the market.
The company’s growth is reflected in its financials – for the first quarter, Cycurion reported revenue of $3.9 million, gross profits that were up 95.4% year-over-year and gross margins 17.4% higher than last year’s first quarter, which the company credited to its focus on capturing and retaining more profitable business.
Expanding Into Cryptocurrency
Not one to ignore fast-growing markets, Cycurion is expanding beyond cybersecurity, recently announcing the creation of a new unit, Cycurion Crypto. Cycurion Crypton was created to establish a crypto treasury, focused on acquiring Ethereum (ETH) and Bitcoin (BTC) as long-term holdings. Cycurion said the move enables it to diversify its cash reserves and capture potential upside in the blockchain economy, while maintaining its disciplined capital allocation approach.
The unit supports the company’s growth and capital strategy by enhancing Cycurion’s investor appeal by diversifying reserves and aligning with tech forward capital markets, positioning the company within blockchain security which could enable future revenue opportunities, appealing more to institutional and retail investors seeking exposure to blockchain innovation through a regulated public company structure and creating opportunities for future spinouts, partnerships or blockchain-focused grant funding to accelerate growth while limiting dilution, reports Cycurion.
“The launch of Cycurion Crypto aligns directly with our mission to build secure digital infrastructure while actively participating in the evolving blockchain landscape,” said Kevin Kelly, CEO of Cycurion, when announcing the new business. “We see Bitcoin and Ethereum as foundational elements of the digital economy, and our strategic allocation enables Cycurion to enhance shareholder value while positioning ourselves for opportunities in blockchain-based cybersecurity.”
From cybersecurity to cryptocurrency, Cycurion is growing its presence and creating value for its customers. With the cybersecurity landscape becoming more complex and Cycurion continuing to focus on innovation, it’s a company worth paying attention to.
Featured image from Shutterstock.
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