Cyber Security consulting and development company Cyber Security reported revenue of 5.37 million euros in 2021, an increase of 66% compared to revenue of 3.23 million euros in 2020.
According to revised data, NRD Cyber Security also made a net profit of 603,000 euros last year, an increase of 88% compared to 321,000 euros in the same reporting period in 2020. NRD Bangladesh Ltd. also operates in this field. NRD Cyber Security is assumed at the end of 2021.
NRD Cyber Security has successfully continued to work on various international projects, as well as to sign new contracts. The company has not only completed the establishment of a Cyber Security Incident Response Team (CSIRT) for the Central Bank of Egypt, but has also set up a CollectiveSight threat monitoring platform, developed by key NRD Cyber Security engineers, to enable the bank to centrally monitor and detecting cyber threats. For the Central Bank of Nigeria, NRD Cyber Security has created an integrated cyber security center for the financial sector, as well as implemented a system that addresses cyber security threats, information processing and dissemination.
Sales revenue in the Lithuanian market increased by 80% during 2021, showing not only the growing demand for cyber security products and services in the country, but also the organizational capacity to take advantage of the upcoming opportunities. The organization has strengthened its position in the field of security as a category of service providers. CyberSOC is provided to organizations of various sizes, sizes and natures – banks, manufacturers, international organizations and public sector institutions.
At the end of 2021, NRD Cyber Security’s total investment in research and experimental development (R&D) amounted to EUR 3 million, of which EUR 1.7 million was financed by the European Union and the rest from the company’s own funds. In 2021 alone, 1.2 million euros have been set aside for this purpose, of which 700,000 euros are European Union funds, and the rest are the company’s own funds.
One of its R&D products, CollectiveSight, is a centralized platform for cyber security surveillance and threat hunting. The platform is intended for deployment in sectoral or national critical infrastructures, setting up central management and incident management, as well as threat hunting from sectoral or national CSIRTs.
The platform has already been successfully commercialized – it is deployed in the Central Bank of Egypt and in the critical information infrastructure of Bangladesh and some EU countries.
Another significant NRD Cyber Security product is CyberSet. The product is intended for small IT service providers worldwide who want to provide managed security services. CyberSet is a set of automated processes that integrate typical security operating functions. This product will significantly lower the threshold for new Security Management Service Providers (SMEs) to enter different national markets, allowing them to start as SMEs in a short period of time without much investment.
According to Vilius Benetis, director of NRD Cyber Security, the company’s growth has been driven by its focus on establishing and modernizing cybersecurity teams and providing them with centralized threat monitoring tools, as well as providing managed security services to organizations of all sizes and sizes.
About NRD Cyber Security
NRD Cyber Security is a company that provides consulting services in the field of cyber security, response to security incidents and implementation and development of technology. It aims to create a secure digital environment for countries, governments and businesses, and undertakes a wide range of projects around the world. The company is managed by INVL Technology, an IT investment company listed by Nasdaq Vilnius.
Person authorized to provide additional information:
Kazimieras Tonkūnas
INVL Technology Managing Partner
Email k.tonkunas@invltechnology.lt
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