Growing Awareness of Privileged Accounts in Advanced Cyber Attacks Bolsters Sales and Customer Acquisition
NEWTON, Mass. – February 14, 2013 – Cyber-Ark® Software today announced a year-over-year sales growth rate of nearly 40 percent and a record pace of new customer acquisition. The company’s growth reflects established organizational awareness of the connection between privileged accounts and advanced internal and external security threats.
Main 2012 Highlights:
- Nearly 40% YoY sales growth rate with record Q4
- 230 new customers, increasing user-base to more than 1,200 global enterprise customers
- Retained impressive profitability and cash flow results
Cyber-Ark offers the industry’s only comprehensive, privileged account protection, accountability, and intelligence solution that enables organizations to proactively protect against external attacks and insider exploits, monitor malicious behavior as it is happening, and mount an immediate, effective response.
In recent years, demand for Cyber-Ark’s comprehensive privileged account security solutions accelerated as organizations increasingly recognized the importance of taking a new approach to enterprise security-starting on the inside, securing privileged accounts, and working out-in order to protect against an evolving advanced threat landscape. In 2012, Cyber-Ark added 230 new customers, expanding its overall user-base to more than 1,200 global enterprise customers.
“2012 will be remembered as the year that organizations took a coordinated, proactive approach to their cyber-security efforts by securing the privileged accounts and credentials that serve as the pathway to critical assets,” said Udi Mokady, president and CEO of Cyber-Ark Software. “While Cyber-Ark has grown consistently since our inception, this past year was marked by several milestones signalling that executives understand that privileged accounts are a significant vulnerability that need to be managed. The concept of securing organizations from inside the firewall is not a new one-but its significance, and the functionality of our solutions, continues to grow at unprecedented levels.”
In addition to establishing a strong demand for the security benefits of the company’s Privileged Identity Management and Privileged Session Management solutions, compliance and risk management also remain significant drivers of adoption for Cyber-Ark’s growing customer-base. By helping organizations meet their compliance objectives set by a variety of regulations, including PCI, Sarbanes Oxley, NIST, NERC, MAS and HIPPA , among others, Cyber-Ark signed several seven-figure deals in 2012, and continued to expand the pipeline for all of the company’s advanced security management and monitoring solutions.
More corporate milestones include:
- Cyber-Ark expanded its global employee headcount by 40 percent, including several key additions to the management team.
- increased adoption of Cyber-Ark’s Privileged Session Management Suite — with hundreds of new enterprises implementing the solution — which enables the ability to isolate, control and monitor privileged activity, as well as terminate suspicious activity.
- Recognition as a Best Security Company finalist in the 2013 SC Awards
- Winning the Security Innovation of the Year Award at the UK IT Industry Awards 2012
Growing deployment of Cyber-Ark’s solutions in some of the largest and most influential business in the world. Cyber-Ark’s customer-base includes:
- 20 members of the Fortune 50
- 40 members of the Fortune 100
- 17 of the top 20 global banks
- 8 of the top 12 global pharmaceutical companies