Prophecy Signs Three-Year Agreement with Securonix, Targeting $1M+ ARR
Prophecy International has inked a three-year global reseller agreement with US SIEM leader Securonix, aiming to generate over $1 million in new annual recurring revenue within the first year.
- Three-year global reseller agreement signed with Securonix, Inc.
- Prophecy’s Snare cybersecurity solutions offered to 1,000+ Securonix customers
- Revenue model based on per endpoint managed, accelerating cash flow
- Expected $1M+ new annual recurring revenue in first 12 months
- Partnership expands Prophecy’s reach across multiple industries and geographies
Strategic Partnership Expands Market Reach
Prophecy International Holdings Ltd (ASX: PRO), an Australian cybersecurity software developer, has announced a significant global reseller agreement with Securonix, Inc., a US-based leader in cloud-native Security Information and Event Management (SIEM). The three-year deal enables Securonix to resell Prophecy’s Snare cybersecurity solutions to its extensive customer base, which includes over 1,000 clients worldwide and more than 10 Fortune 100 companies.
This partnership marks a pivotal step for Prophecy, leveraging Securonix’s established global footprint and partner network of over 150 managed security service providers (MSSPs). By integrating Snare’s endpoint data collection capabilities with Securonix’s AI-enhanced cloud SIEM platform, the collaboration aims to enhance threat detection and response for a broad spectrum of industries and geographies.
Innovative Revenue Model Accelerates Growth
Unlike traditional volume-based pricing, the agreement adopts a subscription model priced per endpoint managed. This approach allows Prophecy to receive payments upon sale rather than waiting for deployment or usage to scale, providing a more immediate and predictable revenue stream. Prophecy anticipates this model will generate over $1 million in new annual recurring revenue (ARR) within the first 12 months, underscoring the commercial potential of the partnership.
CEO Brad Thomas highlighted the strategic value, stating that the integration with Securonix’s scalable platform significantly broadens Prophecy’s access to new customers in key target markets. The deal also offers Securonix’s existing customers the option to migrate from third-party solutions to Snare as their current subscriptions expire, while new customers can purchase Snare directly.
Positioning for Cybersecurity Market Growth
Prophecy’s Snare suite, known for its centralized log management and real-time security analytics, complements Securonix’s offerings by enhancing endpoint visibility and compliance capabilities. This synergy is well-timed given the increasing global demand for robust cybersecurity solutions amid evolving cyber threats.
Operating from hubs in Adelaide, Sydney, London, and Denver, Prophecy is well-positioned to capitalize on this expanded distribution channel. The partnership not only promises immediate revenue benefits but also lays the groundwork for sustained growth through deeper market penetration and cross-selling opportunities.
Bottom Line?
Prophecy’s alliance with Securonix could redefine its growth trajectory, but execution and customer adoption will be key to unlocking its full potential.
Questions in the middle?
- How quickly will Securonix’s customers adopt Snare over existing solutions?
- What impact will this partnership have on Prophecy’s overall revenue mix and margins?
- Could this deal pave the way for further strategic alliances in the cybersecurity sector?
