Data protection firm Vault365 to grow revenue by €1m with launch of new backup solution

The company has invested €250,000 in its new LocalLock technology

Fergal Hennigan, Director of Business Development, Vault365

Data protection firm Vault365, which has offices in Cork and Dublin, is expecting revenue growth of €1m over the next 12 months following the launch of its new solution focusing on on-premise data storage. 

The company has invested €250,000 in the development and rollout of LocalLock, a data back-up appliance which stores business data on-site. 

As demand grows for cloud-first solutions, Vault365 said it will work with both Irish and UK Organisations to secure sensitive information within their premises, particularly those in regulated industries such as financial services, legal and government. 

The company said the launch of LocalLock responds to rising customer demand to protect against increasingly sophisticated ransomware attacks, to reduce the risk of accidental or malicious deletion of data, and to enhance compliance with industry regulations.

The LocalLock solution works alongside cloud backups to ensure fast data recovery in the event of an incident such as a cyberattack or hardware failure. 

Should attackers gain access to an organisation’s networks, they will be unable to encrypt or corrupt backups, meaning little to no downtime for businesses.

Unlike fully cloud-based systems, the on-site hardware appliance can continue to safeguard data offline even during network outages, providing an extra layer of security and ensuring that business operations can continue uninterrupted.

“Not all critical business data lives in the cloud," said director of business development at Vault365, Fergal Hannigan. 

"Organisations are currently operating in an uncertain environment as cyber threats continue to grow and would-be hackers utilise ever-evolving methods of attack. 

"This makes securing your on-site data more important than ever and is a key reason why we are introducing Vault365 LocalLock to the market. We believe that this powerful new solution will be a true game changer for data protection.”