Cloudbric Launches As An Independent Startup Following Immense Growth in 2017

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With investments in tow, Cloudbric anticipates a breadth of new growth for its website security service to provide an even more accessible cloud WAF, SSL, and DDoS protection solution.

In order to reach a wider range of websites and establish a global presence, the Cloudbric team is constantly evaluating and exploring new opportunities to optimize our service and create value for investors.

Website security provider Cloudbric has announced its split from web and data security enterprise provider Penta Security Systems, thereby creating two independent companies with distinct business strategies beginning December 1, 2017. With over 20 years of IT expertise, Penta Security Systems first created Cloudbric as an in-house venture with the idea of bringing accessible security to all. The separation best positions Cloudbric and Penta Security Systems to capitalize on their respective expertise in the rapidly changing cybersecurity landscape.

The decision to separate has provided Cloudbric with the independence and flexibility it needs to grow its cloud-based web security services, as it strays away from traditional software and hardware appliances. Following this current trend in cloud computing has enabled Cloudbric to have a more competitive edge by allowing it to react to market and consumer demands more quickly. The split will advance Cloudbric’s growth trajectory and also allow both companies to develop their own vision and core values.

Cloudbric has already seen tremendous growth, acquiring 27 IDCs (Internet Data Centers), 50 partnerships, and 8,000 user sign-ups all within the span of the past fiscal year. Consisting of young and talented core members, developers, security analysts and researchers, Cloudbric was able to realize these accomplishments and more. With the Korean government pouring millions into funding startups and small businesses with grants and other tax incentives, Cloudbric, too, has successfully received its first round of investments from not only the Korean government but also secured investments from a local venture capital firm. Currently at a $10 million business valuation, Cloudbric expects to see even more venture capital funding in the near future.

“In order to reach a wider range of websites and establish a global presence, the Cloudbric team is constantly evaluating and exploring new opportunities to optimize our service and create value for investors. Because we now have the opportunity to fully realize our growth potential, our commitment to helping users become secure online is now greater than ever. Our goal is to generate long-term value for our customers,” says TJ Jung, newly named CEO of Cloudbric.

Cloudbric is looking to take on creative approaches to grow its service in the upcoming year through innovative projects that incorporate elements of deep learning and blockchain technologies. With a mission to help even the smallest organizations attain accessible security, Cloudbric is moving closer to achieving that goal with its projects and global partnerships. The company will continue to explore alternative business opportunities for its global expansion.

About Cloudbric Corporation
Cloudbric is a cloud-based web security provider based in Seoul. It offers WAF (Web Application), DDoS protection, and free SSL. Please visit http://www.cloudbric.com for more information and direct all partnership inquiries to partners(at)cloudbric.com.

Forward-looking Statements
The above press release includes “forward-looking statements” intended to qualify for the safe harbor from liability under the Private Securities Litigation Reform Act of 1995. Any statements that are not historical facts, including statements about the separation of the two independent companies, the nature and impact of such a separation, and the capitalization of the two independent companies, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations of the management of the Company and are subject to uncertainty and changes in circumstances. Forward-looking statements include, without limitation, statements typically containing words such as “intends,” “expects,” “anticipates,” “targets,” “estimates,” “should,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions. By their nature, forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws.

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Karen Cruz
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