Australian OT cybersecurity company Secolve announced on Thursday several major milestones marking five years since its launch – including international growth, new partnerships, services, senior hires, and its 100th customer worldwide.
Operational Technology (OT) cybersecurity is a burgeoning sector in Australia, with Mitsubishi Electric recently acquiring Nozomi Networks for USD $1 billion. Secolve is one of the other major providers in the space, protecting the critical data and systems of Australian mines, factories, hospitals, transport networks, power plants, and other industrial ecosystems. Following a record financial year, it aims to capitalise on Australia’s OT cybersecurity boom and grow its market share considerably.
“We have come an incredibly long way in five short years, and we are now a force to be reckoned with in the Australian OT cybersecurity space,” said Secolve CEO Laith Shahin. “Industrial and critical infrastructure operators have vastly different risk profiles to standard office environments, and the market was not well served by incumbent cybersecurity providers. Giving the same cybersecurity training sessions to a mining engineer working with autonomous trucks and a desk-bound accountant makes no sense, but this was the way for many years.”
Shahin added, “We have made a name in this space by understanding our customers’ unique needs, and tailoring our services to these difficult and sometimes hostile environments. We have ambitious plans to grow our market share even further in the next five years.”
Secolve recently signed its 100th customer worldwid,e including brands in the UK, Denmark, the U.S., and Canada. Its new OT-SAT training product, a video-based OT security training course platform launched in 2023, has been translated into 20 languages to meet new demand. In the last 24 months, Secolve has grown its revenues by 57% and more than doubled its headcount.
“Secolve has been a trusted partner in strengthening our OT cybersecurity,” said Jason Porter, General Manager, Operations at Atmos Renewables. “They bring deep understanding of our industry, the regulatory environment, and the complexities of OT systems, and their guidance has been invaluable in supporting our operations. Together, we’ve been able to build greater resilience into our systems, which is critical as we continue to grow our renewable energy portfolio.”
Secolve offers a range of cyber advisory, offensive security, and cyber training services aimed at OT environments. It has also recently signed new partnerships with the likes of Dull to expand and improve its service offering to customers. It now has more than 10 partners in total, covering OT asset management, third-party risk management, remote access, and other key OT controls.
“It’s been great to work with another Australian-based company in Secolve,” said Harrison Bottomley, CRO and co-founder of Dull. “Their value as a pure OT Cybersecurity player has really set them apart, providing our joint customers with added insights & success both pre- & post-sale when deploying solutions into the OT environment. We look forward to continuing the partnership with the Secolve team.”
