SAN JOSE, Calif., Nov. 7, 2018 /CNW/
-- Nubeva Technologies Ltd. ("Nubeva" or the
"Company") (TSX-V: NBVA, OTC: NBVAF),
today announced that its newly released Nubeva
Prisms SaaS solution for public cloud security enablement
is yielding accelerated market adoption.
Nubeva reports that customer engagement has increased
to 57 subscribers at the end of October, the Company's
end of fiscal Q3, up from 20, 10 and 3 sequentially from prior
quarters. Much of the accelerated adoption is credited to the
Company's new Prisms SaaS solution that was released in
mid-September. Subscribers represent small corporations
to larger enterprises at varying stages of deployment
into their cloud, representing a truly scalable solution for large
market segment. Subscriber revenue potential is based
on size of customer cloud environment and can range from several
thousand to multi-million-dollar annual contract value if fully
deployed.
"We are very excited about the early traction we are seeing from
Prisms," said Randy Chou, CEO
of Nubeva. "We built this product based on
customer and cloud provider input to address some very real
and important problems to cloud
adoption, specifically, enabling new and existing tool
investment for great security and visibility of
cloud projects. Prisms is a next generation, cloud-native
solution that is functionally advanced, easy,
and disruptively affordable. We are optimistic that
these early returns are indicators that we have hit the mark with
our solution." In October one of the largest institutional
investors in the world took a $4M
position at $0.775 in the Company, a
further endorsement of the Company's prospects for growth.
About Nubeva Prisms
When companies migrate to the public clouds, they lose
real-time access into their networks. The impact is that
the critical tools they depend upon to monitor security, networks
and applications cannot function, and therefore, business have
increased exposure to cyberattacks and limited diagnostics to their
infrastructures. Nubeva Prisms, released in September
2018, is a breakthrough solution that restores network
access and control inside public clouds, allowing customers to
utilize their strategic tools and close their security and
visibility gaps.
In September Microsoft showcased Nubeva Prisms at its annual
Azure Cloud conference, Re-Invent, demonstrating customer
use cases and related features from Microsoft that Prisms
enhances. Nubeva Prisms is available today
for Microsoft Azure and Amazon AWS cloud environments.
Prisms scales from small to extremely large
environments with industry leading functionality and multiple
pricing options supporting pilots, small projects, and very
large cloud operations.
About Nubeva Technologies
Ltd.
Nubeva Technologies Ltd. develops Software-as-a-Service ("SaaS")
software and services that enable enterprises to run best-of-breed
cybersecurity in public cloud environments. Nubeva's products
provide enhanced visibility and control over network traffic and
simplified automation and operation that is essential to run
top-tier security technologies and services in the cloud easily and
at low costs. With Nubeva, organizations can leverage existing
policies, technologies and operations and accelerate their move to
the cloud with confidence. San Jose,
CA-headquartered Nubeva is committed to the vision of
dramatically broader and lower cost availability of the world's
best security to confront the rising cyber-crime threat. Visit
www.nubeva.com for more information.
Forward-Looking Statements
This news release contains "forward-looking information" within the
meaning of applicable securities laws relating to the Company's
business plans and the outlook of the cybersecurity industry.
Although the Company believes in light of the experience of its
officers and directors, current conditions and expected future
developments and other factors that have been considered
appropriate that the expectations reflected in this forward-looking
information are reasonable, undue reliance should not be placed on
them because the Company can give no assurance that they will prove
to be correct. Actual results and developments may differ
materially from those contemplated by these statements. The Company
undertakes no obligation to comment on analyses, expectations or
statements made by third-parties in respect of the Company, its
subsidiaries, their securities, or their respective financial or
operating results (as applicable).
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
For further information, please contact:
Nubeva Technologies Ltd.
Randy Chou
CEO
1(844)538-4638
Marcel Valentin, Investor
Relations
Marcel@SophicCapital.com
1(647)697-0498
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SOURCE Nubeva Technologies Ltd.