Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Family Zone has reached a 150,000 paid subscriber milestone
  • The company is looking to raise $4.75 million to help fund its U.S. expansion
  • Family Zone’s share price is up 2.96 per cent today, currently sitting at 18 cents apiece

Cyber safety enforcer Family Zone has reached a 150,000 paid subscriber milestone as the company continues to grow.

As a result, shares in the company are up nearly three per cent today, bringing its share price to 18 cents apiece.

Family Zone’s product, to be used at home and in schools, can flexibly limit social media usage and online gaming, and block adult content on children’s devices.

The cyber safety program is making a mark at a time when 97 per cent of Australian households with children aged 15 and under have access to the internet. On average each household has at least seven internet accessible devices, according to the Australian Institute of Family Studies.

According to Family Zone, the average age children first view online pornography is between 8 and 11 years old. Additionally, 59 per cent on teenagers have been subject to cyber bullying.

Recently, the company signed a deal with JB Hi-Fi to provide its cyber-secure educational program to schools across Australia. Family Zone proposed it has the potential to reach 10,000 students.

Earlier this year, the company secured a patent for its technology in the U.S. and last month received an Australian patent.

It has also partnered with Google cloud, joining Google’s Technology Partner Program as a Cloud Partner and a Google for Education Partner. As well as partnerships with major telcos, including Indonesia’s Telkomsel, which boosted sales internationally.

In a predicted $100 billion potential market, Family Zone has established itself in over 900 schools, with 600,000 users and partnered with 10 telcos in eight countries, as reported in August.

Family Zone is now looking to raise $4.75 million from shareholders to help fund business development in the U.S., engineering and product costs, as well as inventory and working capital.

FZO by the numbers
More From The Market Herald
Altium Limited (ASX:ALU) - Chief Executive Officer, Aram-Mirkazemi

" Altium (ASX:ALU) revenue slips for the first time in eight years

The invariable impacts of COVID-19 have put a stop to Altium's (ASX:ALU) consecutive revenue growth during…
Altium Limited (ASX:ALU) - Chief Executive Officer, Aram-Mirkazemi

" Altium (ASX:ALU) shares bump despite shrinking revenue expectations

Altium (ASX:ALU) has predicted its fiscal revenue for 2021 will be lower than initial guidance, following…
Altium (ASX:ALU) - CEO, Aram Mirkazemi

" Altium Limited (ASX:ALU) announces new auditor

Software company Altium Limited (ASX:ALU) has appointed KPMG as it auditor, replacing PricewaterhouseCoopers (PwC).
Altium Limited (ASX:ALU) - Chief Executive Officer, Aram-Mirkazemi

" Altium (ASX:ALU) maintains full-year guidance despite COVID-19 headwinds

Altium (ASX:ALU) has posted its half-yearly unaudited sales and revenue figures for FY21, revealing it endured…