Solar Group received a stake in a startup developing a platform for employee cybersecurity

Solar Group received 28% and an option to control a startup developing a platform for “increasing employee security.” In fact, we are talking about training staff in information security awareness. This area is actively developing against the backdrop of growing cyber attacks and tightening regulatory requirements. Analysts estimate the market volume at 20 billion rubles. by 2030. But so far no more than 5% of companies use such programs.

The Rostelecom structure GC Solar, through its controlled LLC Solar-PT, closed a deal to acquire a stake in the company Secure-T (Secure-T LLC), a developer of a platform for increasing the cybersecurity of employees, the parties to the transaction told Kommersant. This direction in the market is called Security Awareness (SA, security awareness), the Secure-T platform, in particular, is used by the company for conducting educational phishing mailings, training reactions to social engineering, etc. According to analysts, only the number of phishing attacks in Russia grew by 48% in 2023 relative to 2022 (see Kommersant on March 14).

The details of the transaction in the Solar Group are not disclosed, but they say that after entering the capital, Secure-T will “strengthen the Security Awareness direction in the product portfolio.” The founder of Secure-T, Khariton Nikishin, clarified to Kommersant that “the development of the platform will be handled by Secure-T, Solar will be able to adjust the process based on customer needs.”

The company explains the growing demand for SA services by increased government requirements for companies and government agencies to improve the cybersecurity of employees. In particular, Presidential Decree No. 250 of May 1, 2022 introduces requirements for government agencies, state corporations and critical information infrastructure entities to have a specialized department and a deputy director for information security (see “Kommersant” dated May 1, 2022).

Secure-T LLC was founded in 2019; before the deal with Solar Group of Companies, 62.5% belonged to Khariton Nikishin, 37.5% to Sergei Shakhov. Since March 28, the company is 45% owned by Mr. Nikishin, 27% by Mr. Shakhov, 28% by Solar-PT. Another 23% are issued with options and will come under the control of Solar later, notes the source familiar with the details of the transaction. Thus, according to him, Solar will ultimately receive 51% of the company. LLC revenue for 2023, according to Kartoteka.ruamounted to 54.7 million rubles, net profit – 33.8 million rubles.

Solar wants to provide “comprehensive solutions for cybersecurity, including in corporate education,” says Arseny Dabbakh, founder of the research company Dsight: “Being part of Rostelecom, the company will follow its standard practices. Rostelecom usually prefers deals with startups, where payments for control are possible from the company’s funds earned in the future.”

The cost of Secure-T can be estimated as 10–15 revenue values, that is, Rostelecom could pay up to 400 million rubles. for 51% (based on revenue of 54 million rubles for 2023), says Alexander Ivanov, partner and general director of the Russian Assessment company. Mr. Ivanov estimates the SA market in Russia in 2024 at 0.8–1 billion rubles, expecting growth to 15–20 billion rubles. by 2030

This is not the first transaction in the SA segment on the Russian market: in April last year, the MTS venture fund invested 90 million rubles. in the developer of the Phishman employee training system. SA also employs Anti-Phishing, Kaspersky Lab and others. Director of MTS StartUp Hub Dmitry Kurin confirms the growth dynamics of the segment: the volume of the SA market in 2023 amounted to 600 million rubles, and by the end of 2024 it could reach 1 billion rubles. At the moment, he clarifies, only 5% of companies use SA solutions.

The chief specialist of the department of integrated information security systems at Gazinformservice, Dmitry Ovchinnikov, confirms that the direction is promising, but for now “only large corporations with a significant budget for cybersecurity” are ready to buy such solutions. Small companies, he said, “choose the technical component of protection rather than employee training.”

Tatiana Isakova