Newton, Mass. – December 5, 2013 – CyberArk, the company securing the heart of the enterprise, today announced that the company is doubling the size of its global headquarters in Newton, Massachusetts to support its rapid employee growth and expansion. The company made the announcement at the New England-Israel Business Council’s (NEIBC) “Future of the Massachusetts-Israel Economic Relationship” event with Massachusetts Governor Deval Patrick.
“As one of the many Massachusetts companies with strong roots in Israel, we’re excited to be here today with Governor Patrick to demonstrate the positive economic impact that Israel and Massachusetts can have on each other,” said Udi Mokady, CEO, CyberArk. “By doubling the size of our global headquarters in Massachusetts, we’ll be able to continue to grow and support the more than 1,400 customers that rely on CyberArk to help them address an increasingly menacing IT security threat landscape.”
Persistent Privileged-Based Cyber-Attacks Drive CyberArk’s Growth
Privileged accounts have been identified as the primary pathway all cyber attackers use to perpetrate both internal and advanced external attacks. According to security consultancy firm Mandiant, “APT intruders prefer to leverage privileged accounts where possible, such as domain administrators, service accounts with domain privileges, local administrator accounts, and privileged user accounts.” The power of these accounts have been demonstrated repeatedly through multiple security incidents, including the NSA leak by systems administrator Edward Snowden and the constant nation-based attacks identified in Mandiant’s APT 1 report.
The heightened awareness on the privileged account connection shared in nearly 100 percent of advanced attacks has driven increased demand for privileged account security solutions from CyberArk that empower organizations to identify, secure and automate controls around every one of these powerful accounts.
As a result of this increased demand, CyberArk has:
- Increased its Massachusetts-based workforce by 25 percent in 2013, with plans to continue to grow aggressively in 2014. CyberArk now employs more than 300 people globally.
- Achieved more than 30 percent growth in sales, helping more than 1,400 customers worldwide address their privileged account security challenges, including:
- 40 of the Fortune 100; 17 of the world’s top 20 banks; 8 of the world’s top 12 pharmaceutical companies; 75 of the world’s leading energy companies.
- Developed groundbreaking new technology to help businesses identify and thwart the latest advanced attacks stemming from both internal and external forces, including
- Privileged Threat Analytics™, the industry’s first analytics solution to detect malicious privileged account behavior and disrupt in-progress attacks.
- Version 8.0 of CyberArk’s privileged account security solution, featuring Master Policy – the first ‘policy engine’ that enables customers to set, manage and monitor privileged account security in a single, simple, native language interface.
NEIBC’s “Future of the Massachusetts-Israel Economic Relationship” is an event for celebrating the future of the Israel-Massachusetts economic relationship. The event includes the release of important findings by the New England Israel Business Council that describes the multi-billion dollar impact of Israeli-founded companies on Massachusetts and their role as a critical growth engine for the Massachusetts economy, as well as the extraordinary spirit of collaboration and innovation that exists between Massachusetts and Israel. A whitepaper that details the research findings, titled “The Massachusetts-Israel Economic Relationship, 2nd Edition” is available at www.neibc.org.