ObserveIT, the leading insider threat management provider with more than 1,900 customers around the world, today announced a record start to 2019 with the strongest first quarter sales in company history. Further, the company achieved a more than 60 percent increase in annual recurring revenue driven by growing demand for its powerful insider threat platform that provides organizations with comprehensive user and data visibility, proactive detection and rapid response capabilities across endpoints.
According to Verizons recent Insider Threat Report, nearly 70 percent of insider incidents are found months or even years following the initial event. Threats today stem from both employees and trusted third parties (contractors, partners, etc.) who are either ill-informed on cybersecurity protocols or disregard them all together. As the use of contractors increases, and as more employees embrace remote or flexible work options, its critical for employers to take a modern, comprehensive approach to data loss prevention (DLP).
With the goal of addressing threats associated with the evolving workplace, in the first quarter of 2019, ObserveIT introduced its newest solution, ObserveIT 7.7. The solutions new capabilities add yet another layer of protection, allowing organizations to detect data exfiltration attempts through removable media devices and the usage of common keyboard shortcuts, such as cut, copy, paste and print screen.
The workplace is evolving quickly and so are the threats that put our organizations most valuable data at risk, said Bill Duenges, Senior Vice President of Information Technology at Aircastle. With ObserveITs agile product and superior expertise, we now have unprecedented visibility into the flow of information within our four walls and across our contractor base, allowing us to detect and mitigate risky behavior in real-time.
To further support product innovation and company growth, ObserveIT made two strategic executive hires in the first quarter. Chris Bush brings more than 20 years of IT security industry experience to his new position as Head of Security. Trevor Eddy has joined the company as Senior Vice President of Worldwide Sales, responsible for field engineers, sales and the channel.
ObserveIT also started 2019 with notable industry validation for its insider threat management solution. Specifically, the companys offering was named a Gold Winner in the Insider Threat Solution category within Infosecuritys 2019 Products Guide. The CDM InfoSec Awards selected ObserveIT as the Best Product within its Insider Threat Detection category, and the company was named a silver winner for Best Security Start-up within the Cybersecurity Excellence Awards. Finally, ObserveIT VP of Americas Channel John Quinn was named a 2019 Channel Chief by CRN Magazine.
Im incredibly proud to announce such a strong start to 2019 and expect this momentum to continue throughout the year as we see more companies recognize the importance of implementing a modern approach to insider threat protection, said Mike McKee, CEO of ObserveIT. Industry recognition and a growing client portfolio is proof that our technology is changing the way organizations manage and respond to insider threats.
To learn more about ObserveITs Insider Threat Management solution and how it helps companies detect anomalous behavior, expedite investigations and prevent data loss, visit here. For a free trial of ObserveIT 7.7, visit here.
About ObserveIT ObserveIT is the leading Insider Threat Management solution with more than 1,900 customers across 87 countries. ObserveIT is the only solution that empowers security teams to detect insider threats, streamline the investigation process, and prevent data exfiltration. With 350+ out-of-the-box insider threat indicators of compromise, rich metadata and outstanding search capability and playback of any policy violation, ObserveIT provides comprehensive visibility into what people “ contractors, privileged users and high-risk users “ are doing, and reduces investigation time from days to minutes. For more information visit: www.observeit.com.
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