SOURCE: AlgoSec

June 16, 2015 08:00 ET

AlgoSec Accelerates Momentum With Strong Growth in Fiscal Year 2015

Security Policy Management Emerges as Key Business Driver for Global Enterprises

RIDGEFIELD PARK, NJ--(Marketwired - Jun 16, 2015) - AlgoSec, the market leader for Security Policy Management, today announced another strong year at the close of its fiscal year 2015 ending March 31, 2015, with 45 percent growth in bookings over fiscal year 2014. Furthermore, FY2015 was record breaking for the Company in both revenue and profitability, and marked the seventh consecutive year of profitability.

AlgoSec attributes its impressive growth and success to the rapid evolution and expansion of the modern data center, which mandates a strategic, business-centric approach to security policy management. As a result, enterprise organizations are selecting and deploying AlgoSec's security policy management solution at a rapid rate in order to enable them to manage security at the speed of their business.

AlgoSec currently has over 1,500 enterprise customers, including 15 of the Fortune 50 and 200 of the Global 2000 companies, in over 50 countries worldwide, and spanning every industry vertical.

Key Company highlights for FY2015 include:

Business:

  • The Company added nearly 200 new enterprise customers, including 31 Global 2000 companies in FY2015. Additionally, the Company recorded an unprecedented number of seven-digit deals.
  • Over 80 percent of new deals included multiple modules of the AlgoSec Security Management Suite, as customers embrace a business approach together with automation as their security policy management strategy.
  • Continued expansion within the world's leading MSSP organizations, who rely on AlgoSec to drive operational efficiencies in security policy management for their customers, increase their competitiveness and augment their customer retention strategies.
  • AlgoSec continued to support and cultivate its extensive network of channel partners and value added resellers and now boasts over 300 channel partners worldwide. AlgoSec's partner program was awarded five stars by CRN Magazine and recognized -- for the fifth year running -- as having one of the most innovative IT channel programs worldwide.

Product:

Over the course of the year, AlgoSec delivered a number of technology innovations that have already generated market traction, including the ability to:

  • Unify security policy management across on-premise and public cloud environments.
  • Deliver unprecedented visualization of application connectivity across the data center.
  • Automate the connectivity provisioning process for large-scale server migration and decommissioning projects.
  • Automate the management and enforcement of network segmentation policies to help protect against cyber-attacks, data leaks and ensure compliance with industry regulations. 
  • Enable zero-touch network device configuration through its ActiveChange™ technology which automatically pushes approved changes directly to network devices.

Partnerships:

  • In 2015, AlgoSec partnered with VMware in order to support their Software Defined Data Center (SDDC) and NSX network virtualization platform. With this partnership, AlgoSec adds to its roster of industry leading vendors with whom it integrates. These vendors include Check Point Software Technologies, Cisco, Fortinet, Juniper, Palo Alto Networks, and many others.

  • To support the growing demand for AlgoSec's solutions in APAC, AlgoSec and Hillstone Networks announced a strategic alliance and developed an integrated offering.

Company Expansion:

  • AlgoSec expanded its global footprint with a new Asia-Pacific support center. The center reinforces AlgoSec's commitment to provide global 24x7 'follow the sun' support to any customer wherever they are located.

  • To support the Company's rapid growth across North America, AlgoSec opened its new corporate headquarters in Ridgefield Park, NJ, USA.

"Companies are under pressure to securely deliver more business applications with greater agility. With the rapidly increasing number of cyber threats, an increasingly complex IT environment, and serious challenges in recruiting IT talent, companies must turn to automation to manage security at the speed of business. This is fueling a huge surge in demand for AlgoSec's solutions," said Yuval Baron, CEO of AlgoSec. "We are extremely pleased with our record year, and look forward to continuing to deliver our unique combination of innovative security solutions that power the business coupled with an unparalleled dedication to customer service and success. I would also like to take this opportunity to thank our customers, partners and employees for making this the best year ever for AlgoSec."

The AlgoSec Security Management Suite delivers a complete, integrated solution for managing complex network security policies -- from the business application layer to the network infrastructure. With powerful visibility across virtual, cloud and physical environments, the AlgoSec Suite automates the entire security change management process to accelerate application delivery while ensuring security and compliance.

About AlgoSec

AlgoSec empowers enterprise organizations and service providers to manage security at the speed of business. Through its application-centric approach, AlgoSec automates and simplifies security policy management across virtual, cloud and physical environments to accelerate application delivery while ensuring security. Over 1,500 of the world's leading organizations, including 15 of the Fortune 50, rely on AlgoSec to optimize and streamline changes to the network security policy, mitigate risk and ensure continuous compliance. AlgoSec is committed to the success of each and every customer, and provides the industry's only money-back guarantee.

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