VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 29, 2016) - Identillect Technologies Corp. (the "Company" or "Identillect") (TSX VENTURE:ID) is pleased to announce that through internal sales and successful reseller programs in Health Care, Real Estate and other industries susceptible to breach and regulatory changes, the Company has recognized a 36% increase in monthly paying subscribers since June 01, 2016, shortly after going public.
Delivery Trust™ is an email encryption solution being deployed by small businesses and enterprises at a monthly subscription fee. The multiplatform software is available for Gmail, Microsoft 365, making it very simple solution for businesses with varying email platforms to integrate a seamless email encryption tool.
Due to the greater exposure in their target markets, Identillect is gaining the attention of larger organizations such as hospitals, insurance companies and benefits providers in the United States, which has led to significant growth in Identillect's subscriber base.
Identillect CEO Todd Sexton comments, "The recent breach at Yahoo only continues to prove our platform is becoming more and more relevant for businesses around the world. There is a true need from professionals for the convenient and compliant security tools we provide, as evident by the overwhelmingly positive user reviews regarding our service online. We are committed to continue providing excellence in service as we expand our reseller network and client base."
The Company has greatly expanded their strategic partner network to wide array of managed IT, SAAS, and Compliance organizations. As a result, exposure of Identillect's Delivery Trust email encryption solution has been able to reach a much wider audience in the United States, Canada and Europe. Additionally, the increase in regulatory demands requiring information to be protected in transit has made the mandate for a product like Delivery Trust™ a requirement when doing business.
The United States is currently experiencing data breaches in excess of 28 million records breaches in the first 9 months of 2016, these breaches cost an average of $211 USD per record equating to an astounding $5.9 billion dollars and growing. The email security market is expected to reach heights of $2.3 billion USD in 2017 in the attempts to combat this ever-present issue.
Identillect's Delivery Trust™ proprietary e-mail encryption technology targets organizations of all sizes, and is sold to medical professionals on a monthly subscription basis. Delivery Trust™ can be accessed by medical professionals on a vast array of electronic communication devices. All messages and their attachments are secured with patented, state-of-the-art encryption technology while providing complete control of the message with the click of a button, ensuring safety and control while in transit.
Since commercializing the product, Identillect has quickly grown its subscriber base and is becoming recognized in the security industry as a top e-mail security provider. Visit https://identillect.com/ to learn more.
On Behalf of the Board of Directors of:
IDENTILLECT TECHNOLOGIES CORP.
Todd Sexton, Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.