Alarum Technologies, operating primarily through its subsidiary NetNut, provides web data collection infrastructure to businesses. The core product is an IP proxy network (IPPN) that routes customer data requests through millions of residential, mobile, ISP-based, and data center IP addresses globally, allowing businesses to collect large-scale data from public websites anonymously and without being blocked. Beyond the core proxy network, Alarum offers a Website Unblocker (which mimics real user behavior to bypass anti-bot systems), scraping APIs, SERP data collection tools, and pre-built datasets. Alarum serves over 1,200 paying business customers across advertising, financial services, cybersecurity, e-commerce, and AI, selling directly and through resellers. The business model is primarily subscription-based: customers purchase bandwidth packages ranging from one month to one year, with revenue driven by customer count, average revenue per customer, and product mix. Higher-value products like scrapers and datasets carry better margins than the core proxy network, and Alarum is actively pushing customers toward these products. Alarum's growth thesis centers on demand from AI companies building large language models, which require massive quantities of public web data for training. Alarum has pursued large AI customers aggressively, accepting near-term margin pressure to secure relationships it expects will generate durable long-term revenue. The company also uses third-party vendors to fulfill capabilities it hasn't yet built in-house, replacing them with proprietary solutions when demand proves durable. Alarum also operates a small, nearly wound-down consumer VPN business that accounts for roughly 3% of revenue.