CyberArk Closes Another Profitable Year In 2009 With More Than 40 Percent Year-Over-Year Growth
NEWTON, Mass. – January 28, 2010 – Cyber-Ark® Software, the leading global software provider for protecting critical applications, identities and information, announced today that it achieved a more than 40 percent increase in sales in 2009 versus 2008, and continued profitability. Demonstrating the strength of its market-leading Privileged Identity Management and Governed File Transfer Suites, Cyber-Ark added an impressive 130 new customers in 2009, bringing the company’s user base to 630 global enterprises.
Cyber-Ark’s expanded customer base includes organizations representing a wide range of sectors including consumer goods, financial services, manufacturing, healthcare, government, retail and energy. Enbridge Gas Distribution, Sainsbury’s, SunTrust, Sony, Medtronic and CIBC are examples of new contracts signed in the second half of 2009 alone. Cyber-Ark has also expanded existing relationships with long-standing customers such as BT and American Express. Additionally, new technology and product investments continued to pay dividends, with a close to 100 percent customer retention rate including strong upsell deals with existing customers throughout the year.
“As organizations enter 2010 bracing for new security threats and increasing compliance and audit challenges, Cyber-Ark’s trusted, reliable solutions will continue to help them become more vigilant about safeguarding their privileged accounts and highly sensitive information, while ensuring the health of their business and external partnerships,” said Udi Mokady, CEO of Cyber-Ark Software. “We recently celebrated our company’s 10th anniversary and are proud of our unwavering commitment to our customers’ success through the development of the market’s most advanced, innovative security software. As a result, Cyber-Ark is well-positioned to continue its momentum and further expand our market share across new vertical sectors and geographies.”
Continued Investments in New Product Features and Benefits
In the second half of 2009, Cyber-Ark announced significant enhancements to its Privileged Identity Management Suite, including the announcement of v6. With the sixth generation of this solution, Cyber-Ark officially expanded into the superuser access control market and became the first vendor to provide a unified, policy-driven approach for shared-account/software-account password management (SAPM) and superuser privilege management (SUPM).
Meanwhile, enhancements to its Inter-Business Vault® v5.5 focused on helping customers encourage adoption of more modern, efficient file transfer processes, while allowing the flexibility required to add new partners and deliver innovative business services to customers with unprecedented decreased time-to-market.
Expanding Federal and Global Footprint Through Strategic Partnerships
Beyond customer momentum and product innovation over the past year, Cyber-Ark continued to expand its market reach through strategic partnerships with companies like ArcSight and McAfee.
On the international front, Cyber-Ark expanded into China, South America and Eastern Europe. Overall, the company extended the reach of its international operations, which includes more than 200 enterprise customers and added more than 15 new channel partners in EMEA and Asia Pacific.
Through collaboration with strong local partners combined with the listing of Cyber-Ark’s solutions on the GSA schedule and the Canadian NMSO, Cyber-Ark has increased adoption of its solutions within federal, state and local government organizations.