Cyber Analytics Company Expects to Reach Profitability in Second Half of Year
SUNNYVALE, Calif.— July 27, 2016 — RedSeal (redseal.net), the cybersecurity analytics company, today announced it reached break-even in the first half of 2016 and projects profitability in the second half of the year. Demand for RedSeal’s analytics platform is steadily growing as digital resilience and cyberattack preparedness become a strategic priority in the C-suites of global 2000 companies and government agencies.
“The C-Suite is asking for more comprehensive and measurable results from their security and network organizations. This requires new thinking—and new behavior to support that thinking—not just better prevention,” said Ray Rothrock, chairman and CEO of RedSeal. “RedSeal’s proven network resilience technology has been implemented by over 40 government agencies and hundreds of commercial enterprises. Digital resilience is the new watchword in cybersecurity and RedSeal provides an essential element of resilience.”
Highlights of the company’s first-half performance include a 70 percent increase in bookings and a 110 percent increase in revenue over the first half of 2015. RedSeal acquired 19 new customers in the first half of 2016 from across government and commercial sectors, including several multinational technology companies and media conglomerates, an international consumer packaged goods manufacturer, a national health insurance plan provider, and a branch of the U.S. Armed Forces.
RedSeal’s second half has begun on a strong note. The company just closed a $6.3 million contract—the largest in its history—with an existing customer that was using RedSeal in just one part of its organization. The results demonstrated so much value, in the form of insights and the ability to prioritize its cybersecurity initiatives, that the customer is expanding use of RedSeal across its entire $65 billion enterprise.
RedSeal grew its international presence in the first half of the year, opening new offices in Japan and Canada, and accelerating its international traction in government and commercial segments across the globe. Overall, the company has increased headcount by 30 percent since the beginning of 2016 and has doubled its headcount in EMEA. This global momentum demonstrates an increasing demand from the people who run networks for more complete information of their infrastructures, which helps them prioritize their security activities and thus remain resilient against evolving threats.
RedSeal puts power in decision makers’ hands with the essential cybersecurity analytics platform for building digitally resilient organizations. RedSeal’s Digital Resilience Score, modeled after a creditworthiness score, measures how prepared an organization is to respond to an incident and quickly rebound. The company’s platform adds value to existing network devices by working with them and building a network model. With this, customers can understand the state of their networks, measure resilience, verify compliance, and accelerate incident response. RedSeal’s customers are Global 2000 corporations and government agencies that depend on the most sophisticated security. Founded in 2004, RedSeal is headquartered in Sunnyvale, California and serves customers globally through a direct sales and channel partner network.
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