BOSTON, Jan. 18, 2017 /PRNewswire/ -- ObserveIT, the leading insider threat monitoring and analytics solution provider with more than 1,400 customers around the world, today announced it achieved new business milestones in 2016, setting the stage for continued success in the year ahead. Record sales of the company's innovative cybersecurity solution, which identifies and eliminates risk created by the negligent or malicious activities of privileged users, contractors, vendors and business users, have led to the expansion of ObserveIT's executive team, including the arrival of three seasoned leaders helping the company as it expands to meet market demand.
Milestones achieved in 2016 by ObserveIT include:
- Record revenue, and an impressive CAGR of 40% every year over the last 8 years
- Surpassed the 1,400 customer mark worldwide
- Achieved customer renewal rate above 90%
- Average deal size increased to highest level in company's history
- Expansion to 280 partners worldwide and the unveiling of a new North American Partner Program
- Global sales footprint with 60% of revenue from outside of the United States
- New state-of-the-art headquarters, with 10,000 square feet of offices in Boston, MA
ObserveIT's appointment of three new members to its executive management team will further the company's rapid growth in North America and worldwide. The new leaders, who will help guide strategic sales, marketing and partnership efforts, include:
Simon Darr, Vice President of International Sales and Marketing – Simon brings 20 years of sales and marketing leadership and experience to ObserveIT's international efforts. Most recently he was CMO of Helen Doron Educational Group and VP of International Sales and Marketing at Pipeline. Simon is based in the company's Tel Aviv offices.
Erica Sheehan, Vice President of Marketing – Erica joins ObserveIT with more than 17 years of senior-level marketing experience with leading technology organizations, including most recently as Director of North American Marketing for Akamai Technologies and Global Marketing Director for Endeca Technologies (acquired by Oracle). Erica is based in ObserveIT's Boston headquarters.
John Vigeant, Vice President of Americas Sales – John adds nearly 15 years of executive leadership to the ObserveIT team, including serving as CEO of Reddo Mobility, CEO of Tracelytics, VP of Business Development for CloudBees, and a key member of Citrix Systems' Mergers & Acquisitions team. John is also based in ObserveIT's Boston office.
"2016 was a record year for ObserveIT. Thanks to the hard work of our ObserveIT team and channel partners around the world, we shattered previous records for revenue, customer acquisition and partner program success. Demand for our Insider Threat Monitoring and Analytics solution is at an all-time high," said ObserveIT CEO Mike McKee. "We are doubling-down on our success by expanding our senior management team. The addition of Simon Darr, Erica Sheehan and John Vigeant brings more than 50 years of dynamic experience growing technology companies to our organization – their skills, coupled with the talents of our workforce and loyal partners worldwide, puts us on course to make 2017 another historic year."
ObserveIT is the leading Insider Threat Monitoring and Analytics Solution with more than 1,400 customers across 87 countries. ObserveIT identifies and eliminates insider threats by having "eyes on the endpoint" and continuously monitoring user behavior and alerting Security and IT teams about activities that put organizations at risk. With full video capture, 180 out-of-the-box insider threat alerts, outstanding search capability and playback of any policy violation, ObserveIT provides comprehensive visibility into what people – contractors, privileged users and high risk users – are doing, and reduces investigation time from days to minutes. For more information visit: www.observeit.com.
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