Media Release | 22nd May 2023

Stryve Ventures into €5bn Global Market

Stryve strikes a joint venture deal with South African SD-WAN vendors, MikroCloud in a bid to access a €5 billion global market

Stryve, a Carlow headquartered cyber security company, has signed a joint venture deal with South African network automation start-up, MikroCloud. MikroCloud helps businesses across the globe securely manage MikroTik, a popular router and wireless ISP (Internet Service Provider) system with a €5 Billion global market share.

Having spotted a gap in the market for secure private cloud, Stryve was established in 2018. It has quickly scaled to a team of over 100 people, with offices in Carlow, Galway, Warsaw, Marrakesh and London. Its ambition is to become Europe’s largest cloud service provider. The company is on track to turnover more than €10 Million in 2023.

Hannes Kruger is the company founder and lead developer of MicroCloud. MikroCloud is a low-cost SD-WAN (software-driven – wide area network) tool for MikroTik. MikroCloud is developing a cost-effective, security-centric infrastructure management system for businesses that build networks using MikroTik devices. It offers service enhancements to MikroTik users in more than 170 countries.

Speaking from Stryve HQ in Carlow, CEO Andrew Tobin commented,

“We look forward to working closely with Hannes and his team in South Africa. The offering is a superb fit for our portfolio as a valuable security-based IP product with worldwide potential. Hannes and his team have developed an excellent user-focused interface for managing MikroTik. MikroCloud is a highly sought-after alternative to the well-known brands dominating the SD-WAN space. We see tremendous potential in assisting MikroCloud to gain significant international market share.“

The MikroCloud interface allows millions of MikroTik users to securely and seamlessly manage and configure tasks such as creating Wi-Fi hotspots, connecting multiple servers, and creating firewalls and virtual networks (VPNs) to distribute bandwidth.

Hannes Kruger, Founder of MikroCloud commented,

“Our aim is to become the largest contributor to the MikroTik user community in the world, next to MikroTik themselves. This partnership with Stryve is a crucial enabler of that journey. We are enthusiasts of MikroTik products and have an exciting roadmap for the next 18 months, a significant part of which leads to an AI-driven security offering. Stryve is a well-known name in cybersecurity, and the synergy between us is palpable. This next chapter excites me.”

The deal with MikroCloud is Stryve’s latest move to become a globally recognised provider of multi-cloud services. The Irish cyber security company recently announced its partnership with SureDatum, a fintech software company. This venture will see the addition of MikroCloud to the Group’s expanding portfolio. The Irish cyber security company continues its expansion; further announcements are expected in the coming months.

For more information, visit: www.stryvesecure.com | www.mikrocloud.com