BOSTON--(BUSINESS WIRE)--ObserveIT, the leading insider threat management solution provider with approximately 1,700 customers around the world, today announced its third consecutive record-breaking quarter, driven by customers’ need to decrease risks through advanced insider threat detection and prevention. The company closed 2017 with a successful fourth quarter that featured 60+ percent year-over-year sales growth, a record-breaking number of six-figure customer wins, and multiple strategic new hires.
“Throughout 2017, we saw increased customer demand for Data Loss Prevention and data exfiltration capabilities. Today, traditional DLP solutions don’t effectively prevent data exfiltration, and they are extremely difficult to implement and manage,” said ObserveIT CEO Mike McKee. “At ObserveIT, we are providing an unmatched, one-of-a-kind approach to our customers, offering them a 360-degree view of user behavior and data activity coupled with robust data analytics – allowing companies to more seamlessly identify and eliminate all potential insider threats.”
As the leading insider threat management solution, ObserveIT regularly releases new product updates to meet evolving customer needs and deliver a cutting-edge solution with best-of-breed capabilities. In Q4, ObserveIT added key new features and enhancements to the platform, including File Activity Monitoring to track and instantly alert organizations when unauthorized files are being downloaded or exported using internet or intranet browser.
In addition, during its third consecutive record quarter, ObserveIT completed several strategic hires, focused on enhancing the company’s innovative insider threat offering. Key hires included Simon Sharp, vice president of international sales, who brings more than 18 years of sales execution, leadership, and management experience to the ObserveIT team. Additionally, Brian Popiel joined ObserveIT as the chief financial officer based in the Boston office. ObserveIT also welcomed Jeff Williams, an operating partner at Bain Capital Ventures, as the newest member of its board of directors.
Additional milestones achieved in 2017 by ObserveIT include:
- Achieved more than 60+ percent year-over-year bookings growth.
- Saw Net Promoter Score increase to the mid-70’s, reflecting deep customer loyalty, continued confidence and strong overall support.
- Grew customer base to approximately 1,700.
- Continued employee growth, with a more than 20 percent increase from the end of 2016.
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Secured significant customer wins, with a record-breaking 500 percent
increase in the total number of six-figure deals in Q4. Key customer
wins included:
- Two Fortune 50 financial services firms;
- The world’s largest services and solutions provider;
- One of the largest entertainment companies in the world;
- One of the world’s premier specialty coffee retailers, and;
- A major industrial and trucking manufacturer.
For a free trial of ObserveIT’s award-winning insider threat solution, visit here.
About ObserveIT
ObserveIT is the leading Insider Threat Management solution with approximately 1,700 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 230+ 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.
