Company contributes to computer safety

As more businesses and individuals look for ways to improve the security of their computers, sales continue to grow for a 2-year-old Cedar Rapids company.

SecurityCoverage, 230 Second St. SE, sells automated computer security services for residential and small business customers. The company's software provides managed virus and spyware protection, automated Microsoft Windows updates, an integrated "pop-up" ad blocker and ongoing hard drive maintenance and optimization.

Robert O'Dell, president and chief executive officer of SecurityCoverage, said the company's third-quarter revenue grew 43 percent compared with the second quarter of 2006 and 668 percent when compared with the third quarter of 2005.

"We increased the number of partners that resell our services by 48 percent from the third quarter of 2005 to the same quarter of 2006," O'Dell said. "Our subscriber base increased more than 600 percent from the third quarter of 2005 to the third quarter of 2006."

O'Dell said employment has grown from two when the company was founded in 2003 to 27 with five open positions.

"The positions that are open have a technical focus," O'Dell said.

"We're looking for an information technology manager/director. We have a quality assurance or software tester position. We also have a Web developer position open, and we need a couple of technical support representatives."

O'Dell said SecurityCoverage has signed 175 partner agreements, up from 100 in May. He said a marketing agreement with U.S. Bancorp will expose the company's products to customers of the Minneapolis-based financial services provider.

"We're part of a security offering that is available to all of U.S.

Bank's online banking customers," he said. "We're giving the bank's customers a reduced rate. We're talking between a 1.5 million and 2 million U.S. Bank customers."

While the U.S. Bank marketing agreement is expected to bring additional business to SecurityCoverage, O'Dell said the company is focused primarily on attracting Tier II and Tier III Internet service providers.

"It's much easier to create a more personal relationship for those groups and their subscribers," he said. "It's a real nice segment of the market for us."

SecurityCoverage moved to larger quarters in the Granby Building last year to accommodate the growth in partners, subscribers and staff.

"We expect to grow from 175 partners in 2006 to 300 partners in 2007," he said. "We've spent a lot of time focusing on mission, vision and values for SecurityCoverage.

"We want to provide home and small business Internet users with the same level of hands-free protection and convenience that large corporations provide for their employees."