IRVINE, Calif., March 15, 2018 /PRNewswire/ -- Netwrix Corporation, provider of a visibility platform for user behavior analysis and risk mitigation in hybrid environments, today announced strong 2017 results, including 35% revenue growth in Q4 2017 and substantial revenue increase in multiple industries, such as finance, healthcare, and energy & utilities. Named one of the fastest-growing companies in North America, Netwrix reported considerable growth across Asia Pacific, France, Belgium and other regions, as well as substantial upgrades to the Netwrix Auditor platform and new partnerships.
Market momentum
"2017 was remarkable for the global rise in ransomware, as well as several headline-making breaches that resulted in tremendous damage to sensitive data, such as Equifax case. Growing cyber threats and increasing complexity of IT environments are forcing organizations to revise their IT security practices and become more vigilant about what's going on in their IT environments. We expect a rise in demand for products that enable companies to keep user activity under control and evaluate risks to their systems and data, so they can spot and fix security gaps before hackers take advantage of them," said Michael Fimin, CEO and co-founder of Netwrix.
- The company demonstrated 27% year-to-year growth, thanks to rapid expansion both in the U.S. and globally. Revenue increased by 35% in Q4 2017.
- Netwrix showed substantial growth in Asia Pacific (124%) and Australia (81%) compared to Q4 2016. Netwrix also reported huge quarter-over-quarter revenue increases in France (392%), Belgium (506%) and Australia (101%).
- The growing market demand for solutions that mitigate security risks enabled Netwrix to demonstrate growth across multiple industries in Q4 2017, including finance (93%), energy & utilities (80%), healthcare (58%) and consumer goods (55%). Netwrix also showed remarkable year-to-year growth in the healthcare (51%), technology (50%) and financial (32%) sectors.
- Netwrix increased its customer base by 37% over the year by adding more than 1,500 customers, including Lima Memorial Health System, Miller Johnson, World Travel Holdings, Tax Defense Network and Linearizer Technology, Inc.
- In February 2017, Netwrix received a Series A funding round from Updata Partners, a leading technology growth equity firm. This partnership with Updata empowered Netwrix to accelerate global expansion and support product development.
Product releases
- In May 2017, the company launched Netwrix Auditor 9.0, which enables organizations to respond to ransomware and aberrant insider activity faster. The new capabilities include alerts on threat patterns, an add-on for Cisco devices, role-based access control (RBAC), and new compliance reports for GDPR, CJIS, GLBA, FERPA and NERC CIP.
- In November 2017, Netwrix released Netwrix Auditor 9.5. Its risk assessment, behavior anomaly discovery and permissions analysis capabilities enable companies to proactively reduce risks and spot attackers in their IT environment.
New partnerships and appointments
- In October 2017, Netwrix became an Oracle PartnerNetwork Silver Level Partner. This partnership enables Netwrix to receive assistance from Oracle experts to help customers mitigate security risks to their structured data.
Research
Industry recognition
- Netwrix was mentioned in industry analyst reports by Gartner, Ovum, IDC and Juniper.
- In November 2017, Netwrix was recognized as one of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America on Deloitte's Technology Fast 500™ list.
- Netwrix was included in the Inc. 5000 list of the fastest-growing companies in America for the sixth time in a row.
- Netwrix was named to the Software 500 list of the 500 largest software and service providers in the world for the fourth time in a row.
- Netwrix was named a finalist for the SC Awards U.S. in two categories — Best Database Security Solution and Best Regulatory Compliance solution — for the second consecutive year.
- Netwrix exhibited at major industry events, including the RSA Conference in the US and Asia Pacific, and Microsoft Ignite in the US and Australia.
About Netwrix Corporation
Netwrix Corporation was the first vendor to introduce a visibility and governance platform for hybrid cloud security. More than 160,000 IT departments worldwide rely on Netwrix to detect insider threats on premises and in the cloud, pass compliance audits with less effort and expense, and increase productivity of IT security and operations teams. Founded in 2006, Netwrix has earned more than 100 industry awards and been named to both the Inc. 5000 and Deloitte Technology Fast 500 lists of the fastest growing companies in the U.S. For more information, visit www.netwrix.com
CONTACT:
Erin Jones
Avista PR for Netwrix
P: 704.664.2170
E: pr@netwrix.com
SOURCE Netwrix Corporation
