Attivo Networks Achieves Record Results in 2017; Closes With 300+ Percent Revenue Growth
by Jessica Yaniv | February 27, 2018 1:05 pm
FREMONT, Calif., Feb. 28, 2018 (GLOBE NEWSWIRE) — Attivo Networks®, the leader in deception solutions for cybersecurity defense, today announced record-breaking results for 2017 and continued market momentum generated by increasing global demand for its deception-based threat detection and response solutions. The company achieved record revenue for both the full year and in Q4 with increased adoption in energy, financial, government, healthcare, legal, retail and technology industries.
Significant 2017 achievements also included the company’s closing of two new rounds of venture funding totaling $36 million and the debut of the Attivo ThreatDefend™ Deception and Response Platform, which addresses the escalating market need for enterprise technology advancements required to outmaneuver modern-day attackers and provide an actionable defense against in-network threats.
“2017 was an extraordinary year for Attivo Networks from every operational vantage point and our accomplishments are a testament to the hard work of our entire organization,” said Tushar Kothari, CEO of Attivo Networks. “As customer adoption increases, our next-generation deception solutions are now protecting millions of endpoints across the enterprise networks of a growing number of Fortune 500 corporations. Attivo Networks is well positioned to capitalize on this momentum, accelerate our growth and extend our technology and market leadership in 2018.”
Other major highlights of 2017 included:
- Increased Customer Demand – reflecting the pent-up market demand for deception technology solutions, which FBR Capital Markets projects to reach $3 billion by 2019, Attivo Networks secured over 1,000 first appointment meetings and qualifying product demonstrations of its ThreatDefend™ Platform. The company also entered Q1, 2018 with double the momentum it had entering 2017 and is poised for continued aggressive growth.
- Increased Industry Reach, Transaction Size – Attivo Networks expanded customer relationships across vertical industries based upon its ability to improve in-network attack visibility and to close threat detection gaps that could result in information security and/or industrial control systems (ICS), Internet of Things (IoT), and point of sale (POS) device breaches. The company also witnessed a doubling of its average transaction size as customers increasingly invested in the complete portfolio of ThreatDefend™ and BOTsink Deception solutions to address advanced threats including targeted, credential-based, insider, ransomware and man-in-the middle attacks, which are renowned for evading traditional security infrastructure. Additionally, the company completed its Common Criteria Evaluation Assurance Level 2+ (EAL2+) certification and the laboratory FIPS 140-2 testing, which are required for selling to Federal agencies.
- Technology Enhancements – The ThreatDefend platform achieved record level global deployments of BOTsink® servers and is projecting deceptions through millions of endpoints. Additionally, the company enhanced its portfolio in 2017 with:
- Machine-learning and automated deception campaign deployment for authenticity and flexible deployment.
- ThreatDirect TM VM and Cloud for virtual delivery of deception to cloud environments, branch offices and micro-segmented networks.
- Active Directory deception and expansion of BOTsink solution with more than 75 operating systems, applications and protocols for decoy authenticity.
- ThreatPath TM visualization tools for assessing credential-based attack path risk.
- ThreatInject TM simulator for assessing the efficacy of deception technology.
- HoneyDocs, which adds counterintelligence to its threat and adversary intelligence reporting.
- Continued Investor Support – The company closed its Series B and Series C rounds of funding in May and October, respectively, raising $36 million from Bain Capital Ventures, Omidyar Technology Ventures, Singtel Innov8 and Trident Capital Cybersecurity, who have collectively provided $45.7 million to Attivo Networks.
- New Talent Added – Significant new hires were made during the year, including Jilbert Washten, CFO; Todd Helfrich, vice president of Federal sales; and Joe Carson, director of customer engineering and professional services. Driven by commitment to engineering development and customer success programs, the employee base expanded from 99 to 127 with plans to expand to 175 this year.
- Widespread Industry Recognition – Attivo Networks won 27 awards in 2017 from several prestigious cybersecurity industry and technology-focused organizations and publications including American Security Today, Cyber Defense Magazine, CyberSecurity Breakthrough Awards, CRN, InfoSecurity Products Guide, Tag Cybersecurity, Red Herring and the San Francisco Business Times.
- New Corporate Headquarters – To accommodate its growing customer and employee base, Attivo Networks opened its new 8,000 square foot headquarters in Fremont and expanded to a 10,000 square foot office in Bangalore.
- New Partnerships – The company developed an extensive list of security partnerships. These integrations will improve incident response with attack information sharing and the automation of incident response to a cyberattack. The ThreatOps solution – announced in early 2017 – takes these integrations to the next level with repeatable workflow processes that combine automations, company security policies and integrations with ticketing systems for streamlined remediation. More than 25 integrations and a Splunk application are available along with API compatibility for additional SOC operation integrations.
About Attivo Networks
Attivo Networks® is the leader in deception technology for real-time detection, analysis, and accelerated response to advanced, credential, insider, and ransomware cyber-attacks. The Attivo ThreatDefend™ Deception and Response Platform accurately detects advanced in-network threats and provides scalable continuous threat management for user networks, data centers, cloud, IoT, ICS-SCADA, and POS environments. Attivo Camouflage dynamic deception techniques and decoys set high-interaction traps to efficiently lure attackers into revealing themselves. Advanced attack analysis and lateral movement tracking are auto-correlated for evidence-based alerts, forensic reporting, and automatic blocking and quarantine of attacks. For more information, visit www.attivonetworks.com.
Pete Johnson/Loren Guertin
Matter Communications for Attivo Networks
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