Corero Network Security PLC Increased Global Sales Footprint Supports Growth

RNS Number : 1856V

Corero Network Security PLC

30 January 2025

 

30 January 2025

 

Corero Network Security plc

("Corero" or the "Company")

 

Increased Global Sales Footprint Supports Growth Ambitions

 

Ongoing investment in sales and marketing initiatives positions Corero for growth in 2025

 

Corero (AIM: CNS) (OTCQX: DDOSF), the distributed denial of service ("DDoS") protection specialists, is pleased to provide an update on the Company's strategic objective in expanding its sales capabilities and geographic reach.

 

As part of its reinvigorated go-to-market strategy, Corero has focused increasingly on direct investment in its sales function, recognising the significant opportunity it has to broaden the Group's sales footprint across previously unexplored territories, as well as generate additional cross and upsell revenues with existing customers in established geographies.

 

In addition, the launch of the new CORE platform will enable Corero to capitalise on new market opportunities and provide the sales function an expanded product portfolio with which to take to market.

 

Initiatives include:

 

·   Increased strategic marketing activity $ spend by 43% in FY 2024, focusing on lead generation programmes including regional tradeshows, content syndication campaigns, paid social media, and webinars

·    Recruited 6 new sales representatives in FY 2024, taking the total global sales team to 14

·    Hired an experienced senior channel partner manager to refresh the Group's channel partner network and create greater sales traction

·    Created regional sales hubs across Latin America, APAC and the Middle East, hiring experienced sales personnel in Dubai, Singapore and Chile to accelerate Corero's ambition to increase its market reach

·    Reinforced existing sales teams across North America and Europe to increase touchpoints, strengthen client relationships and drive new business development

 

Carl Herberger, Chief Executive Officer at Corero, commented:

 

"A key focus for me since joining Corero has been to reinvigorate our sales and marketing efforts to better align it with our industry-leading products. Pleasingly, our sales and marketing teams made great strides across 2024, playing a pivotal role in growing Corero's market reach and generating new customer traction.

 

Our overarching plan to invest in sales initiatives has been two-pronged: focused on facilitating business exploration across new jurisdictions while bolstering our existing teams in key geographies to support and enhance customer relationships.

 

With new contract wins and partnerships secured in 2024 across Latin America and the Middle East, including our recent agreement with Brazil's Forte Telecom, we're delighted with the initial impact of our investment and are aiming to deliver even more customer wins in these regions as well as our existing geographies where, leveraging recent product launches and enhancements, we continue to strengthen our presence and pursue cross and upsell opportunities."

 

 

Enquiries:

 

Corero Network Security plc	Tel: [phone]
Carl Herberger, Chief Executive Officer
Chris Goulden, Chief Financial Officer
Canaccord Genuity Limited (Nominated Adviser and Joint Broker)	Tel: [phone]
Simon Bridges / Andrew Potts / Harry Rees   Zeus Capital (Joint Broker) Ben Robertson / Alexandra Campbell-Harris	Tel: [phone]
Vigo Consulting (Financial PR and Investor Relations)	Tel: [phone]
Jeremy Garcia / Kendall Hill
[e-mail]
Harbor Access (Investor Relations) Jonathan Paterson	Tel: [phone]

 

About Corero Network Security

 

Corero Network Security is a leading provider of DDoS protection solutions, specialising in automatic detection and protection solutions with network visibility, analytics, and reporting tools. Corero's technology protects against external and internal DDoS threats in complex edge and subscriber environments, ensuring internet service availability. With operational centres in Marlborough, Massachusetts, USA, and Edinburgh, UK, Corero is headquartered in London and listed on the London Stock Exchange's AIM market (ticker: CNS) and the US OTCQX market (OTCQX: DDOSF).

 

For more information, visit www.corero.com, and follow us on LinkedIn and X.

 

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