Irish data protection firm Vault365 targets €1m revenue boost with on-premise backup device. Company invests €250,000 in LocalLock appliance as ransomware threats drive demand for offline storage.
Vault365 expects to generate €1m in additional revenue over the next 12 months following the launch of its LocalLock backup appliance, which stores business data on company premises rather than in the cloud.
The Dublin and Cork-based company has invested €250,000 developing the device, which targets organisations in regulated sectors including financial services, legal firms and government agencies that handle sensitive information.
“Organisations are operating in an uncertain environment as cyber threats continue to grow and hackers use ever-evolving methods of attack”
The move comes as businesses seek additional protection against ransomware attacks, which have grown in sophistication and frequency. Traditional cloud-based backup systems can be vulnerable when hackers gain network access, but LocalLock’s offline storage prevents attackers from encrypting or corrupting backup data.
Faster data recovery
The appliance, which uses technology from Veeam Software, works alongside existing cloud backup systems to provide faster data recovery following cyberattacks or hardware failures. Unlike cloud-only solutions, the on-site device continues operating during network outages, ensuring business continuity.
“Not all critical business data lives in the cloud,” said Fergal Hennigan, Vault365’s director of business development. “Organisations are operating in an uncertain environment as cyber threats continue to grow and hackers use ever-evolving methods of attack.”
Hennigan added that securing on-site data had become increasingly important, describing LocalLock as offering “an added layer of protection and peace of mind that on-premise data is secured round-the-clock.”
The launch reflects growing enterprise interest in hybrid backup strategies that combine cloud convenience with on-premise security, particularly among companies subject to strict data protection regulations.
Top image: Fergal Hennigan, director of Business Development, Vault365
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