Family Zone Cyber Safety Ltd (ASX:FZO) is continuing to build its base of contracted and recurring revenue.
As at the end of January 2018, the company has achieved contracted revenue exceeding $4 million and recurring revenue exceeding $3 million.
The company’s cloud-based cyber safety platform has been developed to keep kids safe and to manage their online activity.
More schools mandating Family Zone Cyber Safety products
Following a strong end to the 2017 calendar year, Family Zone’s education sales team is back in the field pursuing new customers and renewing existing customers.
The company has achieved encouraging sales response so far this quarter and recently passed 140 partner schools.
Partner Schools are educational institutions that partner with Family Zone to mandate, require or promote Family Zone Cyber Safety products to their school community.
Aggressive expansion of Linewize division in New Zealand
In December 2017, the company completed a $5 million placement with a view to fund an aggressive integration of the Linewize firewall and filtering platform.
The cloud-managed firewall technology is now covering more than 11% of New Zealand’s schools and 15% of its students.
Family Zone launches School Zone in West Virginia, U.S.
More than 130 schools were previously using Family Zone’s school filtering platform Sonar in the U.S. state of West Virginia.
In the past few months, Family Zone has upgraded all of these installations to its innovative School Zone platform.
Early adoption and feedback from the U.S. trials of School Zone has been positive.
It is worth noting that in recent months, significant media and government attention has been placed on the challenges of the digital age and in particular the difficult issue of cyberbullying.