IT and communications service provider Paradyn is investing €500,000 in the launch of 'Vault365', a new all-in-one backup, ransomware and data protection solution for data stored on premise and in cloud applications, including Microsoft 365.
The company said its solution has been designed to enable the fastest data restore in the industry.
Paradyn is forecasting revenues of €750,000 in 2023 following the launch of the new product and also plans to create five new jobs over the next 18 months.
Initially available for Irish-based customers, Vault365 plans to roll out their backup services in the UK within the next six months.
The company said that all the data is securely hosted at Vault365's Irish-based data centres.
This ensures local access to data if needed and minimal downtime in the event of an incident, with speedy disaster recovery enabled.
It said that should any incident occur, including a ransomware attack, customers can quickly recover data with the fastest data restore in the industry. Customers also have control over their own data with secure and easy-to-use portal access.
Cillian McCarthy, CEO of Paradyn, said that proactively protecting data has never been more important in a world where security risks are higher than ever.
"We are one of a few Irish companies offering this service, which we're launching to meet customers' increasing backup and security needs for their mission critical data, regardless of where it is," Mr McCarthy said.
"There is a common misconception that backup is included with Microsoft, and a solution like this is crucial for businesses to avoid irreparable loss or theft of their Office 365 data," he added.
