BOSTON--(BUSINESS WIRE)--ObserveIT, the leading insider threat monitoring and prevention solution provider with more than 1,600 customers around the world, today announced continued success as customers turn to ObserveIT to defend against insider threats. ObserveIT experienced its second-consecutive record-breaking quarter, highlighted by continued worldwide revenue growth, significant customer wins, and key hires focused on product development.
ObserveIT’s recent success provides further validation for the company’s technology, which is disrupting the Data Loss Prevention (DLP) market. Customers are turning to ObserveIT for its ease of implementation and ability to detect and prevent data exfiltration by tracking both out-of-policy user activity and suspicious file activity.
According to Gartner, “many DLP deployments struggle to move beyond simple data monitoring and limited data protection exercises, resulting in incomplete data protection across all data flows. In digital business, our data can (and, in many cases, should) be accessible from anywhere, any time and from any device, as long as risk and trust requirements are met. We therefore need to apply a continuous risk- and trust-based assessment approach to data.”1
“Companies are expressing a strong desire to have all user activity data, file data activity and analytics in a single solution, which is exactly what we provide,” said ObserveIT CEO Mike McKee. “By providing the full context and detail around what people are doing, we give security teams the ability to quickly identify and eliminate insider threats.”
ObserveIT completed several strategic hires in Q3, focused on enhancing the company’s innovative insider threat offering. Key hires included Tal Tikotzki, vice president, engineering, who will serve as the site leader for ObserveIT’s Tel Aviv location. An experienced technologist, Tikotzki was a founder and vice president of research and development at Aeronautics Ltd., a leading aerial robotics company, where he led the product team as the company grew to almost $100 million. Alex Kremer, chief architect, joins the engineering team in ObserveIT’s Boston location. Kremer has strong industry experience and built the enterprise solution for Intralinks Holdings, a global content collaboration company, prior to its acquisition by Synchronoss for $821 million.
Milestones achieved in Q3 2017 by ObserveIT include:
- Achieved more than 100 percent year-over-year sales growth (Q3 2017 v Q3 2016) and the highest-ever bookings in a third quarter.
- Increased customer base to more than 1,600.
- Significant customer wins included a $2 million+ deal with a Fortune 100 financial services company. This is the third $1 million+ deal the company has won in the last 90 days. ObserveIT also secured more than ten deals over $100,000 in Q3.
- Saw increased Net Promoter Score of 75, reflecting deep customer loyalty and satisfaction.
For more information and a demo of how ObserveIT helps organizations become more secure and eliminate insider threats, visit here.
1Gartner, Inc. “It's Time to Redefine Data Loss Prevention,” by Brian Reed, Sept. 19, 2017
About ObserveIT
ObserveIT is the leading Insider Threat Monitoring and Prevention solution with more than 1,600 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 200+ out-of-the-box insider threat alerts, 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.
