HUB Security appoints former PayPal Canada president as CRO

TEL AVIV - HUB Cyber Security Ltd. (NASDAQ:HUBC), a cybersecurity firm currently valued at $23.5 million and facing significant operational challenges according to InvestingPro data, has appointed Paul Parisi as its Global Chief Revenue Officer, the company announced Monday.

Parisi brings over 25 years of experience from leadership roles in regulated sectors. He previously served as President of PayPal Canada, where he doubled transaction volumes, and held senior positions at American Express as Vice President & General Manager of Global Commercial Payments. Most recently, he led Silicon Valley Bank’s expansion into Canada.

In his new role, Parisi will lead HUB’s global revenue strategy with emphasis on North America. His responsibilities will include establishing enterprise sales frameworks, expanding partner ecosystems, and scaling customer success infrastructure.

"With a track record of scaling institutional platforms at Amex, PayPal, and SVB, Paul brings the operational discipline, regulatory insight, and leadership strength essential to support our next phase of growth," said Noah Hershcoviz, CEO of HUB, according to the press release.

The appointment aligns with HUB’s strategy to expand across North America and strengthen its enterprise presence, particularly among Fortune 1000 clients, sovereign entities, and financial institutions. InvestingPro analysis reveals several challenges in this expansion effort, including weak gross profit margins of 11.7% and significant cash burn. Subscribers can access 11 additional key insights about HUB’s financial health.

HUB Cyber Security, established in 2017 by veterans of Israeli Defense Forces intelligence units, provides secured data infrastructure and confidential computing solutions. The company currently operates in over 30 countries, offering cybersecurity computing appliances and services. Despite its global presence, the company’s stock has declined 71% over the past year, reflecting ongoing operational challenges tracked by InvestingPro’s comprehensive financial health metrics.

The information in this article is based on a company press release statement.

In other recent news, HUB Cyber Security Ltd. has achieved full compliance with Nasdaq Capital Market listing requirements following a strategic restructuring. The company has also secured new contracts worth over $1.5 million, expanding its reach in healthcare, financial services, and digital infrastructure sectors. Additionally, HUB Cyber Security has been selected to lead a €20 million digital modernization project for Cassa di Risparmio della Repubblica di San Marino, pending regulatory approval. The company has further strengthened its leadership by appointing John Rogers as President of the Americas Region and Shlomo Bibas as an Independent Member of its Board of Directors. These moves are part of HUB’s strategy to enhance corporate governance and expand its presence in North America and Europe. The company continues to focus on its Secured Data Fabric platform, which accounts for a significant portion of its revenue. HUB’s CEO, Noah Hershcoviz, highlighted the importance of these developments in fostering long-term relationships and delivering value to shareholders. Despite potential risks, including economic conditions and competition, the company remains optimistic about its growth prospects.

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