NEW YORK, Jan. 26, 2017 /PRNewswire/ -- SecurityScorecard, the leader in security ratings and continuous risk monitoring, experienced record growth in 2016. In its third year of operations, the firm's client roster, which includes AIG, Symantec, LifeLock, Netflix, Rambus, RapidMiner, and hundreds of others continues to expand. Market adoption of the firm's free tool offerings such as Instant SecurityScorecard, which allows any organization to view a free snapshot of their security status, is also growing at an exponential rate.
Some of SecurityScorecard's key milestones in 2016 included:
- Revenue growth over 200%
- Overall user signups grew 2,700% across all offerings including its popular Instant Security Scorecard service
- Secured $20 million in Series B funding from GV (formerly Google Ventures)
- Awarded multiple patents for IP mapping and security risk benchmarking
- Made a number of key executive hires to position itself for success
- Actively scoring over 100,000+ organizations on a daily basis
The security industry recognized SecurityScorecard's platform as one of ten hot products at Black Hat 2016 and was named the 'Most Promising Company" during PwC's Inaugural Cyber Security Day. SecurityScorecard's new product, ThreatMarket™, the world's first security search engine, received the 'Most Valuable Product (MVP)' award from Computer Technology Review. In 2017, SecurityScorecard has already been named a finalist for two Global Excellence Awards, including Best Security Company of the Year. SecurityScorecard has also been referred to as the Google of cybersecurity based on how the platform automatically and non-intrusively surveys and analyzes the entire internet for vulnerabilities.
SecurityScorecard takes a unique and highly effective approach to security, identifying vulnerabilities from an outside perspective the same way a hacker would. In 2016, the company acquired multiple patents for their proprietary monitoring capabilities, including but not limited to:
- Calculating and benchmarking an entity's security risk score
- Entity IP mapping
- Online portal for improving security risk scores
- Graphical user interface for security to reduce risk
Dr. Aleksandr Yampolskiy, CEO and co-founder of SecurityScorecard, said "These patents are a great recognition of security innovation and risk recon happening at SecurityScorecard. We plan to use them both defensively and, if needed, offensively to safeguard our investment in research and development. Over 75% of our staff is focused on engineering and product, with the remaining 25% dedicated to back office functions, sales, and marketing."
Global Recognition as the Standard in Security Risk Ratings:
Most recently, SecurityScorecard's Government Cybersecurity Report was referenced by President Trump who compared the U.S. government's cybersecurity posture to 17 other industry verticals. CNN marked the President Elect's statement as true, citing the firm's report as evidence.
Penton Technology Channel Group named SecurityScorecard as one of the 5 tech companies to watch in 2017, placing them among companies such as IBM, Microsoft, and Amazon Web Services. SecurityScorecard was also named as one of 10 SaaS companies to watch by InformationWeek.
"The market continues to recognize the value of our firm's security DNA", says Dr. Yampolskiy. "We are seeing more and more customers adopting SecurityScorecard as their main security rating solution for third-party risk management, cyber insurance, M&A, and compliance. We are also seeing existing customers of other security rating firms cancelling their subscriptions and switching over to SecurityScorecard, leading to a competitive win rate that exceeds 70%. SecurityScorecard collects its own unique indicators of compromise not available anywhere else, has a much higher number of rated companies at over 100,000 and has predictive capabilities that are unmatched by any other competitor," he added.
"SecurityScorecard easily performs the tasks that I would have had to hire two dedicated security professionals to do", said Peter Lee of RapidMiner. "And because it's automated, it takes no time to assess new third-parties, saving countless hours."
Throughout last year, SecurityScorecard released four groundbreaking reports assessing the security posture of several industries. They were:
- Holiday Retailers Cybersecurity Report:
- Key Finding: 62% of the Biggest Holiday Retailers were using end-of-life products in the last month, making them more susceptible to various attacks or exploits.
- Healthcare Industry Cybersecurity Report:
- Key Finding: 63% of the 27 Biggest U.S. Hospitals were found to have a C or lower in Patching Cadence, which measures an organization's ability to implement security updates in a timely fashion.
- Government Cybersecurity Report
- Key Finding: NASA received the worst score among all 600 U.S. government organizations. Other bottom-performers included the U.S. Department of State, and the IT systems of Connecticut, Pennsylvania, and Washington.
- Financial Cybersecurity Report
- Key Finding: 95 percent of the biggest 20 U.S. commercial banks (by revenue) were found to have a Network Security grade of 'C' or below.
SecurityScorecard plans to aggressively expand its global presence with first-time and major sales additions in Europe and Asia by the end of the first quarter.
SecurityScorecard provides the most accurate rating of security risk for any organization worldwide. The proprietary SaaS platform helps enterprises gain operational command of the security posture for themselves and across all of their partners, and vendors. It provides continuous, non-intrusive monitoring for any organization including third and fourth parties. The platform offers a breadth and depth of critical data points not available from any other service provider including a broad range of risk categories such as Application Security, Malware, Patching Cadence, Network Security, Hacker Chatter, Social Engineering and Leaked Information. To receive a free SecurityScorecard assessment and consultation for your business, visit instant.securityscorecard.com.
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