SAN MATEO, Calif.--(BUSINESS WIRE)--Agari, a leading cybersecurity company, today announced record-breaking growth for the first half of 2017, underscored by a 172 percent increase in new sales and bookings for Q2 2017, compared to Q2 2016. This growth is being driven by the increased adoption of cloud-based email systems, such as Office 365 and G Suite, which provide basic security for spam and virus detection but are unable to prevent targeted cyberattacks that use identity deception, such as spear phishing, ransomware and business email compromise (BEC). The Agari Email Trust Platform is the industry’s only security solution that stops these difficult to detect attacks by verifying trusted email identities based on insight into 10 billion emails per day.
While most business users today are served by on-premises email systems, a fast-growing segment are transitioning to cloud-based email systems to reduce operations, licensing costs and management overhead. According to Osterman Research, by 2018 more than 50 percent of these enterprises will move their on-premises email systems to Office 365 or Exchange Online – which don’t protect users from advanced email threats based on social engineering and identity deception.
“Spear phishing, business email compromise and other types of digitally-enabled social engineering attacks are the number one cybersecurity risk in terms of financial losses to businesses, and it is only getting worse,” said Agari CEO Ravi Khatod. “While the direct financial losses are costing businesses billions, the bigger threat cyberattacks pose is the erosion of trust in digital business and the drag on growth that creates. The Agari Email Trust Platform is the only solution that recognizes and blocks these attacks, stopping spear phishing and other targeted email attacks to protect and enhance trust in digital business.”
Highlights for H1 2017 include:
- Corporate Growth: The company further strengthened its commitment to ensuring its customers succeed with continued aggressive investments in product management, sales, marketing, customer success and engineering, including two additions to the executive team. Jennifer Wang, Vice President of Customer Success, is a veteran in cyber security and enterprise software with customer success experience for companies including Netscape, First Data and Proofpoint, where she spent 10 years. AJ Shipley, Vice President of Product Management, has extensive security experience, leading product management for companies such as LookingGlass Cyber Solutions, Cisco and NetApp.
- Customer Retention: The company achieved a customer logo retention rate of 100 percent in both the first and second quarters of 2017.
- Platform Success: A growing number of customers, including Informatica, Neustar and Teletech, are expanding their use of the Agari Email Trust Platform to protect their customers, employees and partners from sophisticated email attacks. Farm Bureau Bank, a recent customer win, implemented Agari Consumer Protect to keep its members and partners safe from phishing attacks, as well as Agari Enterprise Protect to prevent its employees from receiving targeted email attacks including spear phishing and BEC.
- Channel Partner Success: The company continues to see strong traction as it expands it channel program beyond North America, with its Australian partner InfoTrust driving new customer adoption with organizations including the Australian Department of Human Services.
- Industry Accolades: The company was named to the Online Trust Alliance “Online Trust Honor Roll” for the sixth consecutive year. In addition, Info Security Products Guide named Agari Enterprise Protect a winner of a 2017 Global Excellence Award for Best Security Software.
Agari, a leading cybersecurity company, is trusted by leading Fortune 1000 companies to protect their enterprise, partners and customers from advanced email phishing attacks. The Agari Email Trust Platform is the industry’s only solution that ‘understands’ the true sender of emails, leveraging the company’s proprietary, global email telemetry network and patent-pending, predictive Agari Trust Analytics to identify and stop phishing attacks. The platform powers Agari Enterprise Protect, which helps organizations protect themselves from advanced spear phishing attacks, and Agari Customer Protect, which protects consumers from email attacks that spoof enterprise brands. Agari, a recipient of the JPMorgan Chase Hall of Innovation Award and recognized as a Gartner Cool Vendor in Security, is backed by Alloy Ventures, Battery Ventures, First Round Capital, Greylock Partners, Norwest Venture Partners and Scale Venture Partners. Learn more at www.agari.com and follow us on Twitter @AgariInc.