NEW YORK, Feb. 16, 2021 /PRNewswire/ -- Cyware, the industry's only Virtual Cyber Fusion Center Platform provider, featuring next-generation security automation, orchestration and response (SOAR) technology, today announced that it has achieved over 120% annual recurring revenue (ARR) growth in 2020, for a second straight year with at least 2X growth.
"Our triple-digit growth is a testament to Cyware's dedication to customer success and solving extremely complex orchestration, threat correlation, and threat response challenges for companies of all sizes," said Anuj Goel, Ph.D., CEO of Cyware. "Automation is the foundation of our approach in alleviating the manual orchestration and correlation of threat intelligence and response. As we've rapidly expanded our installed base and have grown our market share significantly, customers, partners and industry analysts recognize Cyware as the only full-stack, threat intelligence automation and next-generation SOAR vendor who can deliver the capabilities necessary to help customers architect true Cyber Fusion centers to dramatically improve SecOps and reduce technology and business risk."
Revenue, Customers, and Expansion
- Cyware continued to expand its rapidly-growing portfolio of enterprise and mid-market customers who have selected Cyware over traditional SOAR and threat intelligence technologies by over 2X. This includes some of the largest finance and insurance organizations in the Fortune 500 as part of the company's year 120% year-over-year growth.
- As part of its expanding installed base, Cyware is now the provider of threat intelligence sharing platform for 12 major ISACs that have selected Cyware's solutions for automating threat sharing between their members.
- In 2020, Cyware released 40+ major product updates across its Cyber Fusion solutions, including: Full adoption of newly released STIX and TAXII 2.1 standards, Advanced Threat Intel Sharing Automation Engine, Collaborative Playbook Orchestration and machine learning-driven Threat Response.
- Cyware added several key integrations into its platform to enable unprecedented, scale-agnostic intelligence ingestion for any business, bringing its total to over 250+ integrations.
- Cyware launched CTIX Lite - the industry's first threat intelligence platform (TIP) that's purpose-built for mid-market organizations or smaller-sized cybersecurity teams. The solution is architected as an easy-to-use, easy-to-deploy platform featuring pre-bundled intelligence, enrichment, and automation providing teams incredible value, with benefit of enterprise TIP capabilities intelligence partners like Flashpoint, Polyswarm, Comodo, and Bambenek Labs.
- Cyware also launched the Cyware agent, a lightweight integrator, to seamlessly connect the orchestration between cloud and on-premise technologies in hybrid operating environments.
- Cyware continued its global expansion into new markets and regions, growing its headcount 107% across all departments. Cyware also added critical positions on its executive leadership team in 2020. Those included Rob Jacobs, Vice President, Finance; Thomas Bain, Vice President, Marketing; Jeffrey Rogers, Head of Customer Success.
- Cyware closed a venture round of $10M led by Prelude (a Mercato fund) and joined by Tanium, Zscaler, Emerald Development Managers, and Great Road Holdings. The company also announced a follow-on round of investment as part of the Series A that included Greg Clark, Managing Partner of Crosspoint Capital Partners and CEO of Forescout; Andrew Peterson, CEO and Co-founder, Signal Sciences and Zane Lackey, Co-founder, Signal Sciences, recently acquired by Fastly; and Tom Noonan, Founder and CEO of Internet Security Systems (ISS) (acquired by IBM) and Founding Chairman, and Board of Directors with Endgame, acquired by Elastic.
- Cyware was recognized for its innovation as a 'Representative Vendor' by Gartner in its "2020 Market Guide: Security Orchestration, Automation, and Response."
Cyware helps enterprise cybersecurity teams build platform-agnostic virtual cyber fusion centers. Cyware is transforming security operations by delivering the cybersecurity industry's only Virtual Cyber Fusion Center Platform with next-generation SOAR (security orchestration, automation, and response) technology. Built on innovation designed by SecOps practitioners and cybersecurity leaders, Cyware offers multiple technologies within its next-generation platform, including advanced threat intelligence solutions (TIP) for large and small security teams, vendor-agnostic security automation (SOAR), and security case management. As a result, organizations can increase speed and accuracy while reducing costs and analyst burnout. Cyware's Virtual Cyber Fusion solutions make secure collaboration, information sharing, and enhanced threat visibility a reality for enterprises, sharing communities (ISAC/ISAO), MSSPs, and government agencies of all sizes and needs.
To learn more about Cyware, visit cyware.com.