SAN FRANCISCO, CA--(Marketwired - November 22, 2016) - Bay Dynamics® has been named the winner of the "Innovation Through Technology Award" presented by the San Francisco Chamber of Commerce as part of its 25th Annual Excellence in Business (a.k.a. "Ebbies") 2016 Awards. The "Innovation Through Technology Award" is given to a San Francisco technology-led business focused on solving problems and increasing efficiency within businesses or the community. Bay Dynamics' flagship software platform, Risk Fabric®, helps some of the largest Fortune 50 companies reduce cyber risk to their most valuable IT systems and data assets. The platform enables enterprises to prioritize their cyber security activities and direct their limited resources at their most important problems.
"We created our Risk Fabric product to solve significant problems in the enterprise," said Feris Rifai, co-founder and CEO at Bay Dynamics. "Today, the way companies analyze their security data is broken. They manually compile data into spreadsheets, which comes from multiple tools, each one providing a small piece of the puzzle with no connection to business context nor analytics to make sense of all the data. Risk Fabric delivers an effective way to prioritize their security investments or their resources based on the risk to the business. We are honored to receive this award, which highlights our fifteen years of innovation, and pledge to keep innovating so that all enterprises can operate in a continuous state of cyber risk protection that's effective, sustainable and forward-thinking."
"The Ebbies were created to honor San Francisco businesses for their innovation, to celebrate their vision and publicly appreciate their contribution to their employees and our community," said Juliana Bunim, vice president of strategic communications for the San Francisco Chamber of Commerce. "The winners are leaders in our community and together are the collective engine fueling our local economy, keeping our city strong and helping create a culture that is so uniquely San Francisco."
Bay Dynamics was founded in San Francisco in 2001 by the current CEO Feris Rifai and CTO Ryan Stolte. The company transitioned from focusing on IT and security consulting to developing its own cyber security software in 2007, and launched its current flagship product Risk Fabric in 2013. Last year Bay Dynamics' annual recurring revenue growth percentage on Risk Fabric was 326 percent with zero customer turnover. The company recently enhanced the platform enabling clients to adopt a more risk-centric approach to cyber security, which includes prioritizing threats and vulnerabilities surrounding their most valued assets. Bay Dynamics has nine issued patents in this realm with numerous others pending.
For more information about Risk Fabric, go to: http://baydynamics.com/risk-fabric/.
About Bay Dynamics
Bay Dynamics® enables enterprises to prioritize security activities and direct their limited resources at their most important problems. The company's flagship product, Risk Fabric®, is a software platform for enterprises requiring timely prioritization and remediation of security exposures impacting their most critical IT systems and data assets. Risk Fabric benefits enterprises with improved timeliness of action by automating the delivery of personalized and prioritized vulnerabilities to line-of-business application owners responsible for remediation. The platform also enables enterprises to reduce costs and regulatory risk, fortify business continuity, and improve decision making by combining security tool data with business context to provide a complete view of risk mapped to valued assets. For more information, please visit www.baydynamics.com.
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Bay Dynamics and Risk Fabric are registered trademarks of Bay Dynamics, Inc. Other trademarks mentioned are the property of their respective owners.