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Within weeks of becoming a launch partner for Microsoft's SharePoint home sites, Australian-founded LiveTiles (ASX: LVT) has announced the launch of a new security platform for Office 365.
The company's new AI-driven, data-centric security solution has been launched in conjunction with Nucleus Cyber, following a strategic partnership agreed upon in October 2018.
The solution will replace a wide variety of existing security tools, user training and complicated configurations, and is expected to work effectively across Microsoft's Office 365 platform to provide security against the threat of malicious insiders.
The new product will be promoted and sold by LiveTiles to enterprise customers as a premium feature of its Intelligent Workplace Platform.
The company, founded in Melbourne and headquartered in New York, explains the potential market for this security service is significant, targeting 400,000 customer organisations and more than 85% of Fortune 500 companies that leverage Microsoft's SharePoint Online.
LiveTiles is also emboldened by research and advisory firm Gartner's prediction worldwide security spend will exceed $124 billion in 2019 with data security the second fastest growing security segment.
"I am delighted with the progress we've made in alliance with Nucleus Cyber in bringing this AI-driven security solution to market," says co-founder and chief executive officer Karl Redenbach (pictured).
"It opens a big opportunity to increase and expand our average deal size within enterprise customers, something we will be pursuing vigorously.
"Microsoft is making substantial investments in the security space, which our solution complements in that we can secure sensitive information at the point-ofcollaboration without disrupting the collaboration process."
"We look forward to introducing the LiveTiles security solution to our enterprise clients, as well as assisting LiveTiles with their go-to-market plans for their existing and prospective customers and partners," adds Nucleus Cyber founder and chief executive officer Kurt Mueffelmann.
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