Kape Technologies doubles CyberGhost subscribers since acquisition
Kape Technologies reported a 100% increase in mobile subscribers to CyberGhost after it acquired the virtual private network (VPN) in March 2017.
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The AIM-listed consumer security software firm said the increase reflects a rising adoption of VPNs by individuals seeking to safeguard the security and privacy of their mobile devices.
Ido Erlichman, chief executive of Kape, said: "We are thrilled with the significant progress we have made with CyberGhost since its acquisition in March 2017, in combining a great product with Kape's user acquisition knowhow and technologies. These initiatives are testament to the increasing traction and considerable opportunity that exists across our core CyberGhost offering."
The company has also launched CyberGhost 7.0, a privacy application designed specifically for iOS and Android.
The new app contains a number of additional features, such as one-click activation button to immediately turn on and off privacy mode, and includes augmented design and user interface intended to meet the demands of a growing and increasingly diverse mobile customer base.
“We believe the launch of our new app will increase our addressable market, which sits firmly at the heart of our growth strategy to both broaden our customer base and extend our product reach," said Erlichman.
A CyberGhost plug-in for Mozilla FireFox and Google Chrome has also been launched, further expanding its addressable market.
As of 1349 BST, Kape Technologies’ shares were up 2.61% at 122.10p.