… reseller partners who have committed to learning and selling the ReFirm Labs platform. These partners have invested time in becoming subject experts in the platform and understand what it takes to sell ReFirm Labs successfully. The gold tier is for our distributor and MSSP partners who have demonstrated the ability to sell ReFirm Labs proactively. All three tiers provide our partners with the ability to differentiate their security service offerings and accelerate profit from offering our unique cloud-based firmware validation platform.
Our program currently does not support agency or master agent elements.
CP: Quick-hit answers: Percentage of sales through the channel, number of partners, average margin. Go.
RR: We expect our channel of resellers, distributors, MSSPs and system integrators to contribute more than 50 percent of our 2019 revenue. As we recruit, train and enable our channel partners, we expect our channel revenue contribution to grow to more than 80 percent within the next few years. We currently have executed reseller agreements with six global partners, and have agreements under review with two other global partners. Our channel partners can earn between 15-40 percent margin depending on their partner tier, sales activities and deal registration.
CP: Who are your main competitors, and what makes your offering better?
RR: We have a number of competitors including Eclypsium, Red Balloon, VDOO and BlackBerry Jarvis. While we do compete for budget with source code auditing solutions such as BlackDuck, Sonatype, and Coverity, our solutions are complementary as we only focus on firmware. Unlike our competitors and source code auditing and analysis solutions from Synopsys and Veracode, we do not require access to source code or agents on the IoT device. In addition, our teams’ unique subject matter expertise and our Binwalk Pro, Centrifuge and Guardian solutions help make our offerings a must-have for projects with embedded and firmware security requirements.
CP: How do you think your technology portfolio will change in the next three years?
RR: We do expect that our technology portfolio will grow as we establish our position in the value chain of discovery, analysis and remediation of advanced persistent threats. Our talented team of former NSA offensive cyber operators has a unique perspective on how to understand and reveal firmware-based vulnerabilities. We expect to form important technology partnerships in the coming years that will help us to deliver a robust firmware vulnerability discovery, analysis and remediation platform.
CP: How do you expect your channel strategy to evolve over that time frame?
RR: We believe that specialized, vertical solution-focused VARs, distributors and managed security providers will help us grow the market for IoT firmware security.
CP: What didn’t we ask that partners should know?
RR: We currently support Linux, QNX and Android OS-based firmware, and we have a robust product road map that includes enhanced real-time operating system (RTOS) support.
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