Small and medium-sized businesses (SMBs) face a unique challenge—protecting their operations from cyber threats without the resources or knowledge that larger enterprises often have. Corey White, CEO of Cyvatar, recently shared his insights at SaaSOpen 2024 on how Cyvatar has grown its freemium user base from zero to over 1000, helping SMBs implement robust cybersecurity strategies at scale. 

The SMB Dilemma 

For SMBs, investing in cybersecurity is often seen as an unnecessary cost until a breach occurs. Corey highlighted this mindset: “Most SMBs aren’t purchasing cybersecurity because they’re afraid of getting hacked. They’re doing it because their business demands it.” He explained that many SMB owners don’t fully grasp the severity of cyber threats until it’s too late, leaving them vulnerable to attacks like ransomware. 

This realization led to Cyvatar’s freemium model, designed specifically for startups and SMBs. “We built the muscle to provide value upfront, without asking for a commitment. That way, SMBs can see the benefits of cybersecurity before they even spend a dollar,” Corey shared. This approach gives businesses access to critical cybersecurity tools and services, helping them grow securely while managing their operational risks. 

Overcoming Ransomware and Growing Threats 

A key part of Corey’s talk was about the rising tide of ransomware and why it’s crucial for businesses to be proactive. He cited alarming statistics, noting that “75% of SMBs would be unable to continue operations if hit by ransomware.” Corey emphasized that ransomware attacks often don’t end after the first payment—hackers tend to return within nine to twelve months, making it an ongoing threat. 

He also explained how Cyvatar has helped businesses recover from these attacks, providing not just a reactive service, but also a preventative framework. One of the key strategies in their approach is multi-factor authentication (MFA), which Corey urged all SMBs to implement immediately, saying, “Your passwords are already compromised, and MFA is one of the easiest ways to prevent further breaches.” 

The Freemium Model: Value-Based Cybersecurity 

The heart of Cyvatar’s success lies in its freemium model. Corey discussed how the company offers valuable cybersecurity resources with no upfront costs, allowing SMBs to get started with solutions like security policy templates, risk exposure assessments, and threat management tools. The simplicity of Cyvatar’s platform—”no credit card required, just a 30-second sign-up”—has been key to driving adoption. 

Corey also shared how Cyvatar’s platform helps businesses not just mitigate risk, but also grow. “We save SMBs money and help them make money by keeping their systems secure,” he said, highlighting how a secure business environment can translate into customer trust and business continuity. 

The Road Ahead: Scaling with Strategic Partnerships 

Looking forward, Corey explained Cyvatar’s strategy for continued growth, which includes building strategic alliances with major players in the tech industry. “Rather than spending money on traditional marketing, we invest in partnerships with companies like Mastercard and Paypal, which already have millions of SMB customers who need security,” he explained. These partnerships allow Cyvatar to scale efficiently, leveraging existing ecosystems to reach more businesses. 

By continually educating their user base and focusing on real-world cybersecurity threats, Cyvatar has created a robust, scalable model that serves the unique needs of SMBs. Corey concluded his talk by reiterating the importance of offering value through freemium services and focusing on long-term growth through innovation and partnerships.