Skybox smashes its previous record by 62 percent thanks to continuously growing demand for cyber risk management solutions
SAN JOSE, Calif., Feb. 06, 2019 (GLOBE NEWSWIRE) — Skybox® Security, a global leader in cybersecurity management, ended 2018 with its strongest quarter by revenue in the history of the company. The fourth quarter of 2018 exceeded the previous record — set in the same quarter of the previous year — by 62 percent. The company also saw a substantial increase in large deals, closing four times as many seven-figure deals than in 2017, as well as massive pipeline growth in all territories.
“Everything we’re seeing shows us the market is hungry for solutions like Skybox that can help enterprise security overcome its biggest challenges: massive complexity, poor visibility and a huge shortage of skilled workers,” said Gidi Cohen, CEO and founder of Skybox. “We’re recognized as the platform of choice to solve those problems, and all signs point to accelerated growth in 2019 as we capitalize on our recent investments.”
Over the last few years, fueled by more than $270 million in growth equity investment, Skybox has significantly increased its workforce, particularly in R&D and with expansion into new regional markets.
“While we love to see Skybox solutions being adopted by more leading organizations across the globe, it’s also encouraging that well over 50 percent of our revenue comes from recurring business. It’s a mark of pride that some of our customer relationships now span more than a decade,” said Executive Vice President of Sales Stewart Fox. “With more innovative solutions coming out of R&D and expansion in customer care functions, we’re going to exceed the level of excellence our customers have already come to expect. That investment in our customers should also translate to new business and further accelerate our strong revenue growth.”
From its inception, the Skybox platform was designed for the most complex, security-conscious enterprises, bridging the security management gaps in their networking and security technologies to proactively reduce risk and easily maintain compliance. With the recent addition of industry veteran and former Gartner analyst Amrit Williams as Vice President of Products, Skybox plans to roll out a series of innovations for the year ahead, all targeted at simplifying enterprise security management and speeding customer time to value even further.
“Enterprises are coping with dynamic computing, hybrid cloud environments, a mobile workforce, operational technologies, a never-ending list of security vendors and an absolutely enormous skills gap. But the more complexity that creates, the more value we can bring through integration, automation and creating an enterprise-wide single source of truth,” said Williams. “What we do behind the scenes with our analytics and modeling is very advanced, but the outcome for the CISO or security operations is very straightforward, so their decision-making process of how to best reduce risk is simple. And that’s vital in dealing with today’s attack surface.”
According to the just-released 2019 Vulnerability and Threat Trends Report, cloud and operational technology are key drivers in expanding that attack surface. Translating traditional security processes from physical IT infrastructures to the cloud is still a major struggle, especially due to the lack of professionals with the specialized skills and training in cloud security. Similarly, securing the OT environment has added more pressure on resource-strapped IT teams at a time where attacks on OT are increasing. Skybox is well-poised to tap into these trends and to help enterprises counteract the forces expanding their attack surface and, ultimately, secure and enable their business.
About Skybox Security
Skybox provides the industry’s broadest cybersecurity management platform to address security challenges within large, complex networks. By integrating with 120 networking and security technologies, the Skybox® Security Suite gives comprehensive attack surface visibility and the context needed for informed action. Our analytics, automation and intelligence improve the efficiency and performance of security operations in vulnerability and threat management and firewall and security policy management for the world’s largest organizations.
© 2019 Skybox Security, Inc. All rights reserved. Skybox Security and the Skybox Security logo are either registered trademarks or trademarks of Skybox Security, Inc., in the United States and/or other countries. All other trademarks are the property of their respective owners. Product specifications subject to change at any time without prior notice.
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Victoria Davis Schmidt
Corporate Communications for Skybox Security
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