AlienVault Reports Strong Finish to 2017 with 50 Percent Year-over-Year Revenue Growth
03/05/2018 | 09:01am EDT
SAN MATEO, Calif., March 05, 2018 (GLOBE NEWSWIRE) --
AlienVault®, the leading provider of Unified Security Management® (USM) and crowdsourced threat intelligence, today announced that global adoption of the company’s USM Threat Detection platform is on the rise. Over the last two years, Annual Recurring Revenue (ARR) has grown over 60 percent per year in customer acquisition and expansion through its rapidly growing MSSP channel, and 130 percent quarter-over-quarter revenue growth of USM Anywhere™, a SaaS-based threat detection and incident response platform. The company ended 2017 with more than 50 percent year-over-year revenue growth, increased its install base to over 7,000 businesses, and added over 200 MSSP partners increasing the number of MSSPs that rely on AlienVault USM to more than 500.
“Enterprises are transforming their security spending strategy in 2017, moving away from prevention-only approaches to focus more on detection and response,” according to Gartner. “Worldwide spending on information security is expected to reach $90 billion in 2017, an increase of 7.6 percent over 2016, and to top $113 billion by 2020. Spending on enhancing detection and response capabilities is expected to be a key priority for security buyers through 2020.”
The company enjoyed broad validation and acceptance of the USM Threat Detection platform from a range of industries and companies of all sizes from regional banks, retailers, healthcare organizations and universities to government agencies such as Stone Brewing, Gaia, Inc., Kate Somerville Skincare, IPG Mediabrands, RedCAT Systems, TaxSlayer, EB Games Australia, The County Federal Credit Union, and Xero. The company also continued to see rapid adoption of the Open Threat Exchange® (OTX™), the world’s first truly open threat intelligence community that enables collaborative defense with actionable, community powered threat data. OTX is a mission critical resource for threat researchers and analysts, now with more than 80,000 global participants, sharing more than 19 million pieces of threat data daily.
“Given the complexity of today’s modern attacks and compliance mandates such as GDPR, PCI DSS, HIPAA and others, organizations need a security solution that enables faster threat detection and response, reduces risk and ensures compliance. The traditional approach of buying and integrating dozens of security point products is no longer effective as it requires too much time and skilled resources,” said Barmak Meftah, AlienVault’s president and CEO. “Our differentiated approach – a SaaS deployment model that integrates critical security capabilities and automation and orchestration into a unified security management solution – challenges the industry’s dependency on point products, which have proven to be ineffective in detecting today’s advanced threats. The rapid adoption of AlienVault USM across thousands of customers and MSSP partners validates the cost savings, threat detection and response benefits and compliance efficiency of this approach. We expect our growth to continue in 2018 as we help organizations rethink their approach to security and achieve compliance.”
Additional highlights from AlienVault’s exceptional year include:
Enhanced the USM Anywhere™ platform with new AlienApps™ for Office 365, Cisco Umbrella, Microsoft Azure, Palo Alto Networks, ServiceNow, Carbon Black and many more.
Enhanced its visionary Open Threat Exchange® (OTX™) community platform with new capabilities including Groups, Adversary Pages, and Easy Pulse Creation Tools to better enable collaboration and rapid threat response.
The company was one of three partners who achieved AWS’ Security Competency for logging and monitoring and launched availability of USM Anywhere in the AWS marketplace.
Opened new, larger offices in both Austin, Texas and Cork, Ireland to support the rapidly growing company. These offices are in addition to AlienVault’s headquarters in San Mateo, California, an office in Granada, Spain and Madrid, Spain.
Named once again to the Forbes list of the World’s 100 Best Cloud Companies and to Deloitte’s 2017 “Technology Fast 500” list of the fastest-growing companies in North America for the sixth consecutive year.
Additional awards and distinctions included recognition as the Best Cloud Security solution by SC Magazine Europe; 5-star rating in CRN’s 2017 Partner Program Guide, Gartner Peer Insights Customer Choice Honorable Mention and named ConnectWise integration of the Year.
The company also established strategic channel relationships with Amazon Web Services, ConnectWise and Ingram Micro.
AlienVault® has simplified the way organizations detect and respond to today’s ever evolving threat landscape. Our unique and award-winning approach, trusted by thousands of customers, combines the essential security controls of our all-in-one platform, AlienVault Unified Security Management®, with the power of AlienVault’s Open Threat Exchange®, the world’s largest crowd-sourced threat intelligence community, making effective and affordable threat detection attainable for resource constrained IT teams.
AlienVault, AlienApp, AlienApps, USM Appliance, USM Anywhere, USM Central, Open Threat Exchange, OTX, AlienVault OSSIM, Unified Security Management, and USM are trademarks of AlienVault and/or its affiliates. Other names may be trademarks of their respective owners.