High Wire Networks is aiming to help veterans with a new job training program.
The managed cybersecurity and technology enablement provider will train retired military service members and veterans in cybersecurity. High Wire’s SkillBridge program is done in partnership with the U.S. Department of Defense (DoD), the company said.
The program will provide current and former service members with a broad range of classroom education and on-the-job training designed to help them secure high-paying IT jobs that are in increasing demand, the company said.
According to the DoD, enlisted service members can be granted up to 180 days of permissive duty at the end of their time of service to focus solely on their participation in the program. In addition to veterans, the program also extends to national guard and reserve members, as well as military spouses.
Participants will learn about the practical application of information technology for SMBs and large enterprises, including cybersecurity services, IT upgrades and deployments, computer networking, and technical support. They can also learn about the latest innovations in computer and networking hardware, software, managed services, and project management, the company said.
For High Wire, the program creates an ideal environment for workforce development and a competitive advantage as the demand for IT and cybersecurity talent now far outpaces supply.
High Wire’s New Veteran Training Program: Executive Insight
Charles Hughes, COO, High Wire, commented:
“We believe individuals who have undergone military training and have developed the discipline required of their service can be well suited to the task of combating security threats like we do every day with our Overwatch cybersecurity platform. From our experience, military veterans can bring a heightened level of determination, integrity and dedication to their job, as well as a thorough understanding of the mission when it comes to getting the job done and done right.”
Hughes retired from the Army as a first sergeant
Stephen Tallent, Chief Revenue Officer, High Wire, added:
“While teaching the challenges of new technologies and cyberthreats is an important component of the SkillBridge program, for us it has a deeper purpose. By providing veterans this opportunity, it furthers our overriding mission of 'doing well by doing good.' We will not be simply providing education and training but will also be helping these service members discover their unique talents and develop their personal brand. We will be preparing them for success in the commercial workforce, whether it be at High Wire or wherever their aspirations take them.”
High Wire’s Growth Plans
The rollout of this program comes just months after the company sold off its legacy staffing business in an $11.5 million deal. The company did not disclose the buyer of the subsidiary, but said the transaction consisted primarily of the elimination of debt and cancellation of certain shares of its Series D preferred equity.
In addition to driving higher quality revenue streams and profitability, the sale of the staffing business was part of a larger initiative by the company over the last several months to strengthen its capitalization and organizational structure, eliminate high-interest debt, secure more favorable financing, and prepare for an uplisting to a major U.S. stock exchange, High Wire said.
The company estimated its revenue for 2022 at $27 million, an increase of 27% from the previous year. Most of that revenue was recurring based on long-term contracts, and the company says it expects this to continue to expand in 2023 with the anticipated growth of its managed service offerings.
The company’s growth in managed services has been driven by a growing number of channel partners who have expanded their managed cybersecurity service offerings using High Wire’s Overwatch cybersecurity solution, according to the company. Membership of the company’s channel partner program now totals more than 600 worldwide.
