SOURCE: AlgoSec

AlgoSec

January 20, 2011 11:00 ET

AlgoSec Marks Record Year in 2010

Year Marked by 75% Growth in Revenue, Continued Adoption by Global 2000

ROSWELL, GA--(Marketwire - January 20, 2011) - AlgoSec, the market leader for Network Security Policy Management, announced today another record year at the closing of fiscal year 2010. With 75 percent growth in revenue over 2009, AlgoSec's success is marked by significant customer adoption worldwide, as well as continued expansion of its channel program and recognition by leading industry organizations.

"AlgoSec experienced another incredible year of growth and global expansion, particularly in the U.S., exceeding our goals for 2010," said AlgoSec's Co-Founder and CEO, Yuval Baron. "Businesses are distinctly aware of the need to understand and manage network security and are looking for solutions that eliminate risk, cut operation and compliance costs and minimize time-and-labor intensive activities."

Highlights from 2010 include:

  • 75 percent revenue growth over fiscal year 2009 with 40 percent growth in profitability;
  • Continued superior customer satisfaction with an average satisfaction score of 8.9 out of 10 and the only industry manufacturer to offer a money-back guarantee. As a result, increased adoption by existing customers contributed 43 percent of the annual revenue.
  • Addition of more than 150 new customers worldwide, including many Global 2000 organizations who strategically standardized on the AlgoSec Security Suite;
  • Continued geographic growth, expanding into over 40 countries;
  • Expansion of the AlgoSec Channel Partner Program including the selection of 50 new channel partners and training more than 100 new Certified AlgoSec Security Professionals (CASP);

"We are growing aggressively, but our overarching corporate values are unchanged," continued Baron. "We're devoted to delivering the most intelligent solutions for managing network security policies coupled with relentless obsession to ensure the satisfaction of all our customers."

About AlgoSec
AlgoSec is the market leader for Network Security Policy Management. AlgoSec's® exclusive technology is optimized for enterprises, MSPs, auditors and consultants to quantifiably increase their operational effectiveness. More than 600 companies across 40 countries have selected AlgoSec's products -- AlgoSec Firewall Analyzer and FireFlow™ -- to increase efficiency and reduce costs by intelligently automating what were traditionally manual, time- and labor-intensive tasks surrounding firewall, router and VPN management. Learn more at www.AlgoSec.com or visit our blog, Playing With Fire. Follow us on Twitter.

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