Cyber-Ark Posts Growth in 2012
Feb 20, 2013 (Close-Up Media via COMTEX) --
Cyber-Ark Software announced a year-over-year sales growth rate of nearly 40 percent and a record pace of new customer acquisition.
The company's growth reflects established organizational awareness of the connection between privileged accounts and internal and external security threats.
According to a release, Cyber-Ark offers privileged account protection, accountability, and intelligence solution that enables organizations to proactively protect against external attacks and insider exploits, monitor malicious behavior as it is happening, and mount an immediate, effective response.
In recent years, demand for Cyber-Ark's privileged account security solutions accelerated as organizations increasingly recognized the importance of taking a new approach to enterprise security--starting on the inside, securing privileged accounts, and working out--in order to protect against an evolving threat landscape. In 2012, Cyber-Ark added 230 new customers, expanding its overall user-base to more than 1,200 global enterprise customers.
"2012 will be remembered as the year that organizations took a coordinated, proactive approach to their cyber-security efforts by securing the privileged accounts and credentials that serve as the pathway to critical assets," said Udi Mokady, president and CEO of Cyber-Ark Software. "While Cyber-Ark has grown consistently since our inception, this past year was marked by several milestones signalling that executives understand that privileged accounts are a significant vulnerability that need to be managed. The concept of securing organizations from inside the firewall is not a new one--but its significance, and the functionality of our solutions, continues to grow at unprecedented levels."
In addition to establishing a demand for the security benefits of the company's Privileged Identity Management and Privileged Session Management solutions, compliance and risk management also remain significant drivers of adoption for Cyber-Ark's growing customer-base. By helping organizations meet their compliance objectives set by a variety of regulations, including PCI, Sarbanes Oxley, NIST, NERC, MAS and HIPPA, among others, Cyber-Ark signed several seven-figure deals in 2012, and continued to expand the pipeline for all of the company's security management and monitoring solutions.
Cyber-Ark Software is a global information security company that specializes in protecting and managing privileged users, sessions, applications and sensitive information to improve compliance, productivity and protect organizations against insider threats and external threats.
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