Fast-growing endpoint security software firm Avecto has announced record results for its latest financial year. Sales for the year exceeded $28 million (£18 million), which resulted in a 70% increase in revenues over the previous financial year. Operating profits also hit record levels, with an increase of over 300%.
The Cheadle-headquartered business has offices in Boston, USA and Melbourne Australia, and in the past year has expanded its operations into the DACH region with an office in Frankfurt, Germany. There has also been significant investment in marketing over the last financial year, with the company undergoing a rebrand and launching its new security suite, Defendpoint.
Defendpoint is a next generation endpoint security offering, which uniquely combines Privilege Management, Application Control and Sandboxing in a single solution. These proactive technologies are critical in the fight against the growing threats posed by advanced cyber-attacks.
Avecto has seen significant demand for its Defendpoint suite from organizations across the globe, and currently works with a diverse range of enterprise customers. Its customers include some of the world's largest companies across finance, government, healthcare, manufacturing and many more industry sectors.
Paul Kenyon, co-founder and EVP at Avecto said: "Our success has been driven by continuous innovation and a compelling long term vision. Our Defendpoint software offers something that no other security vendor has been able to create, which is reflected in our record sales figures. The whole team deserves great credit for these excellent results."
In the next year, Avecto is predicting another year of record growth, as it continues to scale up all areas of the business to meet the growing demand from organizations across the globe.The firm, which has thus far received no external investment, is now eager to sustain the growth that saw it named as one of fastest growing tech business for the last two years (according to Deloitte's Fast 50 ranking).
Mark Austin, co-founder and CEO added: "Looking at the results on paper it's been an incredible year, but it feels like we're just getting started. We have an exciting and ambitious future vision and product roadmap, which will ensure that Avecto continues to be seen as one of the major innovators in the next wave of endpoint security solutions. I have no doubt that we will exceed our goals once again over the coming year."