BeyondTrust Continues Momentum with Most Profitable Q1 in Company History
Significant Product Updates, Customer Wins and Industry Accolades Strengthen Company Leadership in the Security Industry
PHOENIX, May 14, 2014 - BeyondTrust, the security industry's only provider of Context-Aware Security Intelligence, continues to build momentum as the global leader in Privileged Account Management and Vulnerability Management. The company finished fiscal 2013 strong as it experienced its fourth straight year of record profitably as evidenced by EBITDA margins approaching 40 percent. Corporate growth has been influenced by a number of factors over the last six months including; significant product updates, noteworthy customer traction and market partnerships, industry accolades, and key executive appointments, to position BeyondTrust for continued market advancement and growth.
BeyondTrust announced the release of BeyondInsight™, a new IT risk management platform that unifies two foundational security methodologies: Privileged Account Management and Vulnerability Management. BeyondInsight provides a common dashboard interface for multiple BeyondTrust solutions, offering centralized asset discovery, reporting, analytics, and other platform capabilities that enable unprecedented synchronization and collaboration between IT and Security operations.
The company continued to strengthen its standalone offerings as well. For instance, version 6.5 of PowerBroker for Windows, a desktop and server privilege management solution, introduced industry-first Vulnerability-Based Application Management (VBAM)™ capabilities. This patent-pending technology enforces least-privilege access based on an application’s known vulnerabilities, as well as their age, potential risk, and impact on regulatory compliance initiatives – and is currently included in the PowerBroker for Windows Risk Compliance module.
BeyondTrust also expanded its Vulnerability Management solution suite with the introduction of BeyondSaaS, an easy-to-use, cost effective cloud-based vulnerability assessment service. This offering enables customers to address requirements for scanning externally facing web pages and IP addresses per the Payment Card Industry Data Security Standard (PCI DSS) and other regulations. The BeyondSaaS release followed the launch of Retina Network Security Scanner Unlimited, a full-featured, unlimited-IP version of the industry’s most mature solution for scanning internal IT assets – priced competitively at $1,200 for a one-year subscription.
Strategic Partnerships/Customer Wins
- In April 2014, the Defense Information Systems Agency (DISA) extended their contract with BeyondTrust to provide critical vulnerability assessment and management solutions for the U.S. Department of Defense (DoD). This relationship extension marks the tenth anniversary of the working relationship between the two organizations.
- BeyondTrust has grown to more than 4,000 customers and in Q1 2014 alone, experienced a 30% increase in new business bookings growth over Q1 2013. BeyondTrust customers include leading organizations in the government, aerospace and defense, media & entertainment, telecommunications, healthcare, pharmaceutical, education and financial services sectors.
- CoalFire, an independent information technology governance, risk and compliance (IT GRC) services firm mapped several BeyondTrust solutions to PCI DSS and HIPAA requirements, specifically with regard to VMware virtual IT environments.
- BeyondTrust was selected as a Finalist for the upcoming Red Herring Top 100 North America awards, which recognizes “the most innovative and influential ventures across the North American high-tech industry.” The company will participate in the final round of judging at the Red Herring conference in May.
- March 2014 marked the fifth anniversary of BeyondTrust as an Approved Scanning Vendor (ASV) for the PCI Security Standards Council. It was the company’s Retina Enterprise Vulnerability Management solution that successfully completed PCI Scanning Vendor Compliance Testing.
- SC Magazine recognized BeyondTrust’s UVM20 Security Management Appliance with a 5 star rating, referring to it as a “solid product available as an appliance or software-only, and well worth your attention. It is our choice for Best Buy.”
BeyondTrust expanded its executive leadership team with the appointment of Kevin Hickey to President and CEO. Mr. Hickey joined BeyondTrust by way of the company's acquisition of eEye Digital Security where he served as Chief Executive Officer and Chairman. Under his leadership, eEye experienced significant growth, launched several market-first security solutions and brought the company back to category leadership. Mr. Hickey was recently chosen as a finalist for the EY Entrepreneur Of The Year™ 2014 Award in the Mountain Desert region. The awards program recognizes entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and communities.
"2013 was a year of transition for BeyondTrust, as we prepared for accelerated growth in the vulnerability management and privileged account management markets,” said Kevin Hickey, President and CEO, BeyondTrust. “Given our record results thus far in 2014, it’s clear that both markets are indeed healthy and growing, and there are numerous opportunities in both the on-premise and SaaS portfolios. I’m very proud of the rapid growth we’re experiencing and am looking forward to our continued success in the years to come."
BeyondTrust empowers security-conscious organizations with Context-Aware Security Intelligence, delivering Privileged Account Management and Vulnerability Management solutions that reduce IT security risks and simplify compliance reporting across heterogeneous IT environments.
Our customers not only mitigate user-based risks arising from misuse of system or device privileges, but also identify and remediate asset vulnerabilities targeted by cyber-attacks. As a result, they address both internal and external threats, while making every device – physical, virtual, mobile and cloud – as secure as possible. BeyondTrust solutions are unified under the BeyondInsight IT Risk Management Platform, which provides IT and security teams a single, contextual lens through which to view user and asset risk.
More than half of the companies listed on the Dow Jones Industrial Average rely on BeyondTrust to secure their enterprises. Customers include 8 of the world's 10 largest banks, 8 of the world's 10 largest aerospace and defense firms, and 7 of the 10 largest U.S. pharmaceutical companies, as well as renowned universities across the globe.
Voce Communications for BeyondTrust
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