Secolve has reached its fifth anniversary, marking several milestones as it expands its presence both within Australia and internationally in the operational technology (OT) cybersecurity sector.
The company has grown to serve 100 customers worldwide, including organisations in the UK, Denmark, the USA, and Canada. This comes as OT cybersecurity continues to rise in importance, with Australian mines, factories, hospitals, transport networks, power plants, and other industrial systems facing increasing cyber threats.
Milestones and growth
Over the past five years since its founding, Secolve has experienced significant development in its offerings and operations. It recently added several new partnerships, launched a training product aimed specifically at OT environments, and more than doubled its workforce. Revenue has also increased by 57% in the last 24 months.
Chief Executive Officer Laith Shahin addressed the company’s journey and the specific requirements of industrial clients, contrasting these with traditional office-focused cybersecurity approaches.
“We have come an incredibly long way in five short years, and we are now a force to be reckoned with in the Australian OT cybersecurity space,” said Secolve CEO, Laith Shahin. “Industrial and critical infrastructure operators have vastly different risk profiles to standard office environments, and the market was not well served by incumbent cybersecurity providers.”
“Giving the same cybersecurity training sessions to a mining engineer working with autonomous trucks and a desk-bound accountant makes no sense, but this was the way for many years. We have made a name in this space by understanding our customers unique needs, and tailoring our services to these difficult and sometimes hostile environments. We have ambitious plans to grow our market share even further in the next five years.”
Secolve’s OT-SAT training platform, which was introduced in 2023 and delivers video-based security training, has been made available in 20 languages in response to growing demand. The company’s expansion into different geographic markets has contributed to its client growth beyond Australia, reflecting a broader demand for specialised OT cybersecurity expertise.
Client perspective
One of Secolve’s notable clients is Atmos Renewables, an organisation active in the renewable energy sector in Australia. Jason Porter, General Manager, Operations at Atmos Renewables, commented on the partnership with Secolve and its importance as the renewable company expands its operations.
“Secolve has been a trusted partner in strengthening our OT cybersecurity,” said Jason Porter, General Manager, Operations at Atmos Renewables. “They bring deep understanding of our industry, the regulatory environment and the complexities of OT systems, and their guidance has been invaluable in supporting our operations. Together, we’ve been able to build greater resilience into our systems, which is critical as we continue to grow our renewable energy portfolio.”
Industry context
A recent acquisition by Mitsubishi Electric of Nozomi Networks for USD $1 billion underlines the growing strategic and monetary value being placed on OT cybersecurity solutions. This trend has seen other companies in Australia, including Secolve, emphasising the need for specialised approaches to protect critical infrastructure from cyber threats.
Secolve offers a range of services, including cyber advisory, offensive security operations, and cyber training, all tailored to the OT environment. The company now works with more than ten partners, covering areas such as OT asset management, third-party risk, remote access, and other key OT controls. These partnerships aim to expand and improve the range of services provided to clients facing evolving cyber risks.
Partner feedback
Reflecting on the partnership with Secolve, Harrison Bottomley, Chief Revenue Officer and Co-Founder of Dull, highlighted the value of Secolve’s specialisation and collaboration in the OT sector.
“It’s been great to work with another Australian-based company in Secolve,” said Harrison Bottomley, CRO & Co-Founder of Dull. “Their value as a pure OT Cybersecurity player has really set them apart, providing our joint customers with added insights & success both pre- & post-sale when deploying solutions into the OT environment. We look forward to continuing the partnership with the Secolve team.”
The company’s stated strategy for the coming years is to further increase its market share as Australia’s OT cybersecurity market expands, driven by rising risks and new critical infrastructure projects.
