Falanx rises on launch of new cybersecurity assessment tool

The AIM-traded firm said the new service was expected to play an important role in its “reconnaissance stage” of performing a cybersecurity risk assessment on businesses, in order to assess their overall risk of being attacked or breached.

It said fCEL used a multi-point reconnaissance approach to allow an external, non-invasive, light touch approach, requiring “minimal input” from the user.

The findings of the new assessment tool would be displayed as a ‘Falanx Cyber Exposure Level score’, which would be comprised of three elements.

Those elements included digital risk, which assesses a company's web and dark web content, including its website security; external IP risk, which assesses the security level of a company's public-facing servers; and organisational risk, which assesses how effective a company's operations are in minimising their risk of attack.

The user would submit a multiple-choice online questionnaire, following which fCEL would run its analytical and diagnostic tools before providing its findings and recommendations the next working day.

Following the initial sign-up report, fCEL update checks could be performed regularly, so that a business can keep track of its security posture.

Each report run would provide incremental remedial recommendations for the business to action, as well as visibility on how their security posture improved over time.

Falanx said fCEL would be sold on a subscription basis, and as a result was expected to generate “high-quality” recurring revenues.

Various large channel partners had already expressed an interest in deploying the product into their customer bases.

Consequently, the directors said they believed there was potential for growth both from sales of fCEL itself, as well as through incremental follow-on sales of cybersecurity services such as monitoring and penetration testing.

“Falanx Cyber has developed a mass-market technology that will perform an objective and repeatable cyber security risk assessment on businesses.” said chief executive officer Mike Read.

“We believe this is an ongoing requirement for companies, of all sizes, in order to maintain a robust resilience against cyber threats.”

At 1217 BST, shares in Falanx Group were up 12.48% at 1.18p.