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Paladin Capital Group Issues Report on the International State of Safety Tech in 2023
Report Builds on Findings from Paladin’s 2022 Report on the U.S. Safety Tech Market
Report Produced in Partnership with PUBLIC, Perspective Economics, and Leading Cyberpsychologist Dr. Mary Aiken
WASHINGTON, Dec. 6, 2023 /PRNewswire/ — Paladin Capital Group, a leading multi-stage investor in advanced cyber and AI technologies, today released its second report on the state of the Safety Tech industry, building on its 2022 report which found evidence of an emerging billion-dollar US market. This updated report analyzed the market with an assessment across multiple countries, governments, and sectors. The report—completed by Paladin Capital Group, PUBLIC’s Online Safety team, with the support of Perspective Economics and leading cyberpsychologist and Paladin’s Chief Scientist Safety Tech, Dr. Mary Aiken—found that the international Safety Tech market is experiencing rapid year-to-year growth. In the past three years alone, Safety Tech firms have raised $4.8 billion. That is nearly triple the amount raised between 2011 – 2020.
“Safety Tech” refers to the class of technologies or solutions designed to facilitate safer online experiences and protect users from harmful content, contact or conduct. Whereas cybersecurity relates to protecting data, systems and networks, Safety Tech protects the people who use technology. Solutions in this space focus on reducing risk and harm to users in the everyday online environments by protecting people from mis/disinformation, online harassment, hate, discrimination, and online terrorist content, which increasingly threatens democracy and civil society.
“In today’s online society, users are faced with growing cyberattacks that not only threaten cyberspace, but also their well-being,” said Chris Steed, Paladin Chief Investment Officer and Managing Director. “Paladin was founded with the commitment to recognize and address the vulnerabilities facing our critical infrastructure. Over two decades later, that commitment hasn’t changed. Now, we need to help the humans who operate in cyberspace to become resilient and secure.”
This inaugural International State of Safety Tech report establishes a baseline that will be updated on an annual basis going forward, updating the data on the international landscape, increasing awareness of the maturity and impact of Safety Tech offerings, and driving growth in the Safety Tech sector internationally. Through a combination of desk research, expert interviews, and quantitative market analysis, the researchers found:
- The number of dedicated Safety Tech providers has almost tripled in the last decade globally to a total of 537 private sector firms or organizations. Across 37 countries, nearly 17,000 people are employed in the Safety Tech industry.
- The United States and the United Kingdom together are leading the industry, collectively home to about three-quarters of Safety Tech companies.
- In the U.S., more Safety Tech firms are being acquired and embedded into larger tech companies, a trend expected to rise and continue in the coming years.
- In 2024, we expect to see greater attention on solutions to improve election integrity and tackle mis/disinformation, driven by global conflict and upcoming high-profile elections in countries that account for over 50% of global GDP.
- Rapidly developing generative AI technologies and landmark online safety legislation in the EU and UK present unique threats and opportunities to the industry. The recent passing of the Online Safety Act in the UK positions it as a global leader and policymaker in Safety Tech.
“The widespread impact of online harm is now well recognized, presenting users with psychological risks, criminal dangers, and extremism,” said Dr. Mary Aiken, Paladin Chief Scientist Safety Tech and Member of Strategic Advisory Group. “Governments and companies must continue to take greater responsibility for protecting our collective cyber future and those who are vulnerable online. Those of us in the Safety Tech industry must continue to promote research, partnerships, policies, and solutions to create the future we want today and tomorrow—both online and in the real world. This report is a culmination of years of research and hard work.”
“With new online safety regulation coming into force in the UK and EU and Generative AI tools emerging at a rapid pace, we are at an exciting watershed moment for the Safety Tech sector,” said Alex de Carvalho, CEO & Co-Founder at PUBLIC. “What’s more, as nearly half of the world’s population heads to the polls in 2024 there is a huge opportunity and great urgency for governments, regulators, investors, and industry to further catalyze the online Safety Tech sector to protect citizens online.”
At a time of heightened concern around online safety, the report guides policymakers on how to navigate previously unfamiliar situations to protect Americans online. “We are familiar with national security challenges concerning the protection of critical infrastructure; however, the cyber threat landscape is changing, and now we face the challenge of securing ‘human infrastructure,’” said Congressman James Langevin, Member of Paladin Strategic Advisory Group. “The global policy and regulatory environment is increasingly concerned with protecting users from online harm. While there has been reluctance in some corners among policymakers to regulate in the online safety arena, it’s clear the tide is shifting.”
The report is forward-facing, looking to guide both policymakers and tech companies as they work to develop Artificial Intelligence technology safely. “There is an essential and urgent need to develop frameworks, based on rapidly evolving private sector best practices, to instill trust, safety, and security into the core of AI development and deployment process in the international Safety Tech sector,” said Chris Inglis, Paladin Senior Strategic Advisor and former U.S. National Cyber Director.
Based on the findings of the research, the report provides a set of tailored recommendations for governments, regulators, international bodies, investors, leading tech companies, and Safety Tech providers in order to drive the next wave of growth in the sector internationally. In this of what will be a yearly report, Paladin, Dr. Aiken, and PUBLIC have put together a roadmap for experts to reference in coming years.
The full report is available here.
About Paladin Capital Group
Paladin Capital Group was founded in 2001 and has offices in Washington DC, New York, London, Luxembourg, and Silicon Valley. As a multi-stage investor, Paladin’s core strength is identifying, supporting and investing in innovative companies that develop promising, early-stage technologies to address the critical cyber and advanced technological needs of both commercial and government customers. Combining proven investment experience with deep expertise in global security, cyber technology and cutting-edge research, Paladin has invested in more than 70 companies since 2008 and has been a trusted partner to investors, entrepreneurs and governments for over two decades.
For more on Paladin Capital Group, follow us on Twitter at @Paladincap and on LinkedIn at https://www.linkedin.com/company/paladin-capital-group or visit us at www.paladincapgroup.com.
About PUBLIC
PUBLIC is a digital transformation partner committed to helping the public sector turn innovative ideas into practical solutions Combining expertise around government policy, delivery, and technology, PUBLIC aims to build a public sector that is powered by new technologies and innovative ways of working, achieving better outcomes for citizens. As one of Europe’s leading advisory firms with a specialism in online safety, PUBLIC works closely with clients across central government, regulator bodies and industry to build safer online spaces, protect users and grow a responsible digital economy.
For more on PUBLIC, follow us on Twitter at @PUBLIC_Team and on LinkedIn at https://www.linkedin.com/company/public.io/ or visit us at https://www.public.io/.
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View original content:https://www.prnewswire.co.uk/news-releases/paladin-capital-group-issues-report-on-the-international-state-of-safety-tech-in-2023-302006973.html
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President Emmerson Mnangagwa met this week with Zambia’s former Vice President and Special Envoy Enoch Kavindele to discuss SADC’s candidate for the AfDB
President Mnangagwa, who is SADC Chairperson, reaffirmed his own country’s and SADC’s enthusiastic support for Zambian candidate Sam Maimbo
LUSAKA, Zambia, Dec. 20, 2024 /PRNewswire/ — Special Envoy Kavindele released the following statement following the meeting:
“I am elated to witness the growing success and momentum of Sam Maimbo’s candidacy to become the next President of the African Development Bank. I am filled with gratitude to our friends across both SADC and COMESA for their continued support and good wishes.
Sam has garnered such wide consensus due to his being uniquely qualified to deliver the transformative change and empowerment our continent needs. Sam’s 30 years in development work is defined by driving outcomes, improving processes, and investing in people. The AfDB needs a hands-on leader who is laser focused on delivering results and who is unafraid of making tough decisions in order to best serve our continent. Sam is that leader. Sam has the track record and experience to drastically enhance the pace, scale, and impact of the Bank’s work in service of the people and governments of Africa.
Our region has a proud history of supporting fellow Southern Africans. For example, we all recall Lusaka’s role in hosting the African National Congress’ headquarters during the dark days of Apartheid oppression.
It therefore gives me no pleasure to observe my South African brothers, who have themselves leant on Zambia’s steadfast friendship over many decades, fail to rally behind both SADC and COMESA’s chosen candidate for the AfDB. Africa’s urgent economic development challenges demand transformational leadership at the AfDB, it is all of our responsibility to put forward the best candidate for the job. This is not the time or place for a government to act with narrow self-interest, we all must act in the continent’s and AfDB’s best interest.
I thank Sam Maimbo for his lifelong service to our entire continent, and I am eager to witness his enormous impact as President of the AfDB.”
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Stay Cyber Safe This Holiday Season: Heimdal’s Checklist for Business Security
LONDON, Dec. 20, 2024 /PRNewswire/ — Heimdal Security shares a practical holiday cybersecurity checklist, offering expert insights to help businesses safeguard against cyber threats this festive season.
With reduced staffing, remote work setups, and a surge in online shopping creating heightened vulnerabilities, this guide offers actionable tips to enhance business security.
Going beyond basic advice, the checklist also highlights the most common holiday scams and features videos showcasing real-life examples of Christmas-themed cyber scams and effective prevention strategies.
Key Tips to Protect Businesses This Holiday Season:
- Strengthen endpoints: Ensure devices are updated with antivirus and endpoint protection software; consider Endpoint Detection and Response (EDR) and application whitelisting.
- Prepare for phishing spikes: Train staff to identify suspicious emails, enforce robust email filters, and establish protocols for reporting unusual activity.
- Secure remote access: Mandate VPN usage, monitor unusual logins, and deactivate inactive accounts temporarily.
- Segment and shield networks: Isolate sensitive areas, deploy DNS security and advanced firewalls, and maintain full visibility over network traffic.
- Apply timely patches: Regularly update all systems and test patches in a controlled environment to minimize disruptions.
- Mitigate supply chain risks: Assess vendors thoroughly and limit their access to essential systems.
- Have a response plan ready: Tailor incident protocols for the holidays, create an on-call rotation for the IT team, and enable rapid action against suspicious activity.
“ Cybercriminals thrive on holiday distractions, but with proactive measures like phishing training, secure endpoints, and network segmentation, businesses can stay ahead of potential threats,” said Alex Panait, System Administrator at Heimdal Security.
Common Holiday Scams That Businesses Should Watch For:
Cybercriminals often tailor their tactics to exploit the festive season. The most common scams include:
- Spear phishing: Emails disguised as holiday bonuses or event invitations that steal credentials or spread malware.
- Malicious holiday E-Cards: Festive greetings that contain links deploying ransomware or spyware.
- Fake E-Commerce sites: Fraudulent websites offering discounts to steal payment information.
- Insider threats: Distracted or disgruntled employees mishandling or exploiting sensitive data.
- Corporate travel scams: Fake booking platforms targeting business travelers.
- Business email compromise (BEC): Fraudulent requests for urgent wire transfers during year-end financial rushes.
For more, read the full article here or watch the video on YouTube to see how these threats unfold and learn actionable prevention strategies.
About Heimdal:
Established in Copenhagen in 2014, Heimdal® empowers CISOs, security teams, and IT administrators to improve their security operations, reduce alert fatigue, and implement proactive measures through a unified command and control platform.
Heimdal’s award-winning cybersecurity solutions span the entire IT estate, addressing challenges from endpoint to network levels, including vulnerability management, privileged access, Zero Trust implementation, and ransomware prevention.
For further press information:
Madalina Popovici
Media Relations Manager
[email protected]
View original content:https://www.prnewswire.co.uk/news-releases/stay-cyber-safe-this-holiday-season-heimdals-checklist-for-business-security-302337465.html
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According to Tickmill survey, 3 in 10 Britons in economic difficulty: Purchasing power down 41% since 2004
The people who have the most problems are women (30%) and are between 35 and 49 years old (39%)
ROME, Dec. 20, 2024 /PRNewswire/ — The purchasing power in the UK has dropped by 41% over the last 20 years. Today, £100,000 left in a bank account since 2004 without being invested would now be worth £59,021.
This figure is one of the findings from a study conducted by Tickmill, an international online trading broker that compared the economic situation in the UK and the European Union through the infographic “Purchasing Power and Cost of Living: UK vs EU”.
The analysis reveals a slight decline of 0.4% in the UK’s purchasing power, which currently stands at £41,573. In contrast, the European Union has seen a modest rise of 0.1%, reaching £40,874.
Why is purchasing power declining in the UK? One key factor is the cost of living. If the UK were still part of the European Union, it would rank as the fifth most expensive country, behind Ireland, Luxembourg, Denmark, and the Netherlands.
Unsurprisingly, 3 in 10 Britons are struggling with the cost of living. Women (3 in 10, compared to 25% of men), those aged between 35 and 49 (4 in 10), households earning less than £15,000 (6 in 10), and single parents (1 in 2) are among the most affected groups.
Among UK nations, Northern Ireland is the hardest hit, with 34% of its population facing financial difficulties, followed by Wales (31%), England (28%), and Scotland (22%). In England, the North East has the highest percentage of people struggling, with 4 in 10 residents affected. Even in London, the high costs impact 1 in 4 adults.
In response to these challenges, Britons are making significant adjustments:
- 53% have cut back or delayed spending on smaller items like eating out, entertainment, subscriptions, clothing, toys, books, etc.;
- 52% have reduced household energy consumption;
- 48% have decreased their grocery spending;
- 41% have scaled back or postponed major expenditures, such as holidays, cars, and weddings;
- 26% are working longer hours, taking on overtime, or pursuing additional jobs to earn extra income.
The British also made changes on the financial side. One in four adults has been forced to dip into their savings or investments to cover daily expenses. Moreover, 44% have stopped saving or investing entirely or have reduced their savings and investments—a 4% increase compared to 2023.
The lack of investment is another critical factor contributing to the decline in purchasing power. It is estimated that 13 million UK residents hold £430 billion in cash deposits but do not invest. The reasons? Seventy-four percent say they cannot compare investment products effectively, and 43% are afraid of losing their money.
A lack of knowledge and fear are preventing many savers from taking advantage of an important opportunity: preserving or increasing their purchasing power in the long term.
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According to Tickmill survey, 3 in 10 Britons in economic difficulty: Purchasing power down 41% since 2004