Core Security Achieves Major Milestones in 2011

BOSTON, Jan. 25, 2012 /PRNewswire/ -- Core Security, a leading provider of predictive security intelligence solutions, reported 2011 was a record year for growth and momentum throughout the business – including sustained revenue growth, new innovative solutions, and talent acquisition.

Financial Highlights

For fiscal year 2011 ended December 31, Core Security reported its 10th year of consecutive record revenue and bookings growth. Core Security ended the year with more than 1,400 customers worldwide, a 30 percent increase over 2010.

The record year culminated with a very strong fourth quarter and a record 33 percent increase in overall bookings and 117 percent growth in new product bookings. The company continued to rapidly develop the Core Security Solutions Partner Program with approximately 50 percent of Core Security's 2011 bookings coming through the worldwide channel.

"Our growth rates in all areas are significantly above industry average which is a testament to the hard work of our employees and the innovative predictive security intelligence solutions we provide. Our Core Insight solution has proven to be a breakthrough technology with adoption by some of the world's largest enterprises to help in their efforts to manage their security requirements and the associated risk to the business," said Mark Hatton, president and CEO of Core Security. "Our Core Impact penetration testing solution continues to lead the industry and now helps secure Androids and iPhones in the mobile environment. Coupled with the momentum behind Insight, we are well-positioned for continued strong growth in 2012."

Technology Innovation

In June, Core Security announced and shipped Core CloudInspect, the company's first cloud security intelligence solution that was first researched and developed at CoreLabs. Core CloudInspect offers users of Amazon AWS (Amazon Web Services) with security intelligence to pinpoint threats within their cloud computing environments for the first time.

At Black Hat 2011 last July, the company introduced a new version of the Core Impact penetration testing software solution that puts the most popular mobile phones to the test before deployment including Androids™, BlackBerrys® and iPhones®. In addition, Core Impact received industry accolades and awards including an SC Magazine 5-Star Review with an honored "Lab Approved" designation.

In October, Core Security announced and shipped Core WebVerify penetration testing software – based upon Core Impact technology – that provides actionable intelligence and analysis on critical vulnerabilities to reduce exposure to outside threats.

In November the company released a new version of Core Insight. This predictive security intelligence solution with artificial intelligence technology was developed by CoreLabs for advanced attack simulation, new security testing and analytics. Core Insight won a 2011 Homeland Security Award from Government Computer News for best vulnerability management solution.

Security Research Leadership

CoreLabs security researchers focused intently throughout the year on vulnerability discovery, exploit development, and cutting-edge research. During 2011, CoreLabs issued 15 available vulnerability outbreak advisories that provided relevant information and patches to remediate potential issues within products from Adobe, Apple, Microsoft and others. In parallel, CoreLabs' team of exploit writers researched and developed hundreds of exploits – now counting more than 2,500 in total – to provide customers with the means to duplicate online attacks and pinpoint problems within their IT infrastructure.

Teague Newman, training consultant at Core Security, along with security researchers Tiffany Rad and John Stauchs, presented groundbreaking independent research at DEFCON 2011, Hacker Halted and Chaos Communication Congress (28c3) focused on SCADA and PLC vulnerabilities in correctional facilities. When first presented in 2011 at Black Hat, the discovery gained major worldwide attention from the media and security research community.

New Partnerships, Customer Success, and Employee Growth

During 2011, Core Security established partnerships with more than 30 technology providers, industry associations and academic institutions. New partnerships include Amazon for cloud security, the International Cyber Security Protection Alliance (ICSPA) for united cybercrime fighting efforts, and both Carnegie Mellon University CyLab, and Worcester Polytechnic Institute for advanced research and innovation. 

Over the course of the year, Core Security experienced significantly growing demand for its new and existing products including Core Insight and Core Impact. In 2011 the company grew its customer base by 30 percent. Financial services, e-commerce and healthcare industries increased adoption of Core security intelligence solutions. The Core Security Solutions Partner Program grew across the globe in parallel and added several new partners in Europe, Latin America and Asia Pacific including Motiv, Paphos and Smart Solutions.

The Company continued to hire seasoned professionals during 2011 and increased its headcount by 15 percent, totaling nearly 200 employees largely concentrated at company headquarters in Boston and the company's research and development center in Buenos Aires.  Many new hires and executive promotions were focused on marketing and channel development.

About Core Security

Core Security is the leading provider of predictive security intelligence solutions for enterprises and government organizations. We help more than 1,400 customers worldwide preempt critical security threats throughout their IT environments, and communicate the risk the threats pose to the business.  Our patented, proven, award-winning enterprise solutions are backed by more than 15 years of applied expertise from CoreLabs, the company's innovative security research center. For more information, visit www.coresecurity.com.

Core Security Technologies, Core Security, Core Impact, Core Insight, Core CloudInspect and Core WebVerify are registered trademarks of CORE SDI, Inc. in the United States and/or other countries. All other organizations referenced within this document are trademarks and/or registered trademarks of their respective companies.

SOURCE Core Security