ASX-listed cybersecurity vendor Family Zone Cyber Safety's strategy to convert Australian schools into reseller partners has helped it achieve a milestone of $3 million in annual recurring revenue.
Family Zone told shareholders it had enjoyed a “pleasing sales response” and had recently surpassed 140 school partnerships in Australia and New Zealand.
Partner schools, as the company refers to them, are educational institutions that “mandate, require or promote” Family Zone cyber safety products to their school community.
Family Zone's cyber safety software and hardware allows families to manage their kids' online usage across smartphones, tablets home computers and other home wi-fi connected devices.
As of the end of January, Family Zone said it had achieved contracted revenue exceeding $4 million and recurring revenue exceeding $3 million. The company anticipates further growth will be driven principally by new and recurring customers, continued direct-to-consumer sales and through wholesale telco arrangements.
In December last year, Family Zone acquired New Zealand-based technology firm Linewize, which develops a cloud-managed firewall service specifically for the education market. The acquisition saw Family Zone gain access to Linewize’s network of 260 schools and 130,000 students, in addition to its managed firewall service platform.
Family Zone said the integration of the business was due to complete in April, when a new version of its School Zone platform, based on Linewize architecture, would also roll out to customers.