In a trading update, the cybersecurity-focused commercialisation firm said software-related revenues had increased by more than 100% in the year, while contracts for Rizikon Assurance, its third-party assurance software-as-a-service (SaaS) product, were secured toward the end of 2018 and early in 2019.
The contracts covered industry sectors including Health, IT Services, Nuclear & Professional Services, with CCS saying the wins confirmed it confidence in “the strength of the pipeline which has been building since mid-2018”.
Tom Ilube, chief executive of Crossword, said the £2mln in funds raised during the company’s admission to AIM on 14 December would help it to “grow and convert” its £1.4mln pipeline covering 30 companies.
Ilube added that the firm was “well positioned to deliver a year of strong revenue growth”.
In early trading Monday, Crossword shares were steady at 315p.