SAN JOSE, California, Jan. 29, 2020 /PRNewswire/ -- Quadrant Knowledge Solutions has announced today that it has recognized TrapX Security as the Technology Leader in Deception Technology.
Quadrant Knowledge Solutions conducted an in-depth analysis of the major deception technology vendors by evaluating their product portfolio, market presence, and value proposition. According to the analysis, TrapX, with its robust and comprehensive DeceptionGrid platform, has secured strong ratings for the overall parameters of technology excellence and customer impact and emerged as the clear technology leader.
Highlights of the report:
Deception technology offers a unique value proposition for threat detection and response, positioning organizations in the driver's seat and actively engaging with cyber criminals with the use of a fake deception environment. The approach has proven to provide accurate threat detection in the early stage of attacks with significantly less or almost zero false positives.
TrapX DeceptionGrid multi-tier approach combines network emulation traps with real OS, offers a deep level of engagement, and supports enterprise-grade scalability. The comprehensive technology capability positions TrapX as the industry-leading provider of deception technology solutions across all deception use cases.
The majority of the deception tools available force a tradeoff between deep deception at low scale (virtualized decoys) and low interaction at large scale. TrapX has innovated the market by combining emulated decoys which can proxy attacker activity to high interaction decoys supporting deep deception at enterprise-grade scalability.
TrapX product strategy and roadmap is in line with the evolving threat landscape to provide comprehensive protection against next generation of targeted, smart, adaptive malware attacks, and automated attacks across an IT, OT (operational technology), IoT (internet of things), and cloud infrastructure environment.
"The innovative and sophisticated technology platform of TrapX is able to provide enterprise organizations with signatureless detection of sophisticated malware and other attacks," said Divya Baranawal, Industry Research Manager at Quadrant Knowledge Solutions. "We were impressed by TrapX's ability to fulfil all deception use cases without compromising enterprise-grade scalability."
"This has been a year of record growth for TrapX, with organizations in finance, healthcare, manufacturing, and more choosing our patented deception technology over competitive options. Our ability to provide deep deception at enterprise-grade scale for IT and OT networks is disrupting a market historically dominated by legacy virtualized honeypots. This report further validates the choice our growing customer base has made," said Ori Bach CEO of TrapX Security.
This announcement comes as TrapX closes out a record year with accelerated growth and significant competitive wins across the globe. In 2019 the company expanded its customer base in the healthcare, finance, and manufacturing sectors and has shown record revenue:
On July 1, 2019 TrapX announced that it secured $18 million in a series C financing round designed to expand the company's global footprint to additional countries and verticals.
On July 29, 2019 TrapX announced that it appointed veteran sales exec Frank Sacco to expand and lead its global sales organization.
On November 13, 2019 Security Current, the premier CISO knowledge-sharing community, announced that CISOs from across industries selected TrapX as the winner of the Security Shark Tank® New York City 2019.
On November 14, 2019 TrapX released a case study featuring Procter & Gamble, a Fortune 100 company, on how its product, DeceptionGrid™, was used to transform Procter & Gamble's cyber resilience program.
On November 15, 2019 TrapX announced that it had appointed NASDAQ veteran Mike Fabrico as its new Chief Information Security Officer.
On November 21, 2019 TrapX announced that it joined forces with Fortinet®, in order to provide real-time visibility, threat detection, improved incident response and rapid threat containment, leveraging the capabilities of Fortinet Fabric solutions.
The analyst firm Gartner recommended to security and risk management leaders to "include deception tools as an alternative in any threat detection initiative, as a main tool for small and midsize enterprises or as a complement to other approaches. At the very least, deception tools will offer high-quality alerts via an easy-to-manage ecosystem of simple landmines that nobody is supposed to touch." *Gartner, Improve Your Threat Detection Function with Deception Technologies, Gorka Sadowski et al. March 27, 2019.
On December 11, 2019 TrapX announced that it named Ori Bach as its new Chief Executive Officer.
TrapX Security is the pioneer and global leader in cyber deception technology. Their DeceptionGrid solution rapidly detects, deceives, and defeats advanced cyber-attacks and human attackers in real-time. DeceptionGrid also provides automated, highly.
accurate insight into malicious activity unseen by other types of cyber defenses. By deploying DeceptionGrid, you can create a proactive security posture, fundamentally halting the progression of an attack while changing the economics of cyber-attacks by shifting the cost to the attacker. The TrapX Security customer-base includes Forbes Fortune 500 commercial and government customers worldwide in sectors that include defense, healthcare, finance, energy, consumer products, and other key industries. Learn more at www.trapx.com.
About Quadrant Knowledge Solutions
Quadrant Knowledge Solutions is a global advisory and consulting firm focused on helping clients in achieving business transformation goals with Strategic Business and Growth advisory services. At Quadrant Knowledge Solutions, our vision is to become an integral part of our client's business as a strategic knowledge partner. Our research and consulting deliverable is designed to provide comprehensive information and strategic insights for helping clients formulate growth strategies to survive and thrive in ever-changing business environments. For more available research, please visit https://quadrant-solutions.com/market-research/.
Trademark Notice: TrapX and TrapX Security is a trademark of TrapX Security, Inc.