SOURCE: Corvil


January 18, 2017 11:42 ET

Corvil Posts Record 2016 Results Amid 36% Revenue Increase

Companies Turning to Corvil for Assurance, Performance, and Cyber Protection of IT Infrastructure and Business Services

DUBLIN, IRELAND--(Marketwired - Jan 18, 2017) - Corvil today announced that 2016 was another record performance year with continued profitable revenue growth, expansion of solutions for cybersecurity and regulatory compliance, and penetration of new verticals and markets.

Enterprises increasingly require improved transparency into how their businesses are operating from an IT, customer experience, and commercial perspective. This level of visibility is essential to attaining real-time, actionable insight into user satisfaction, risk, and business performance. The implementation of Corvil has been proven to reduce the costs associated with managing and maintaining IT systems while also allowing teams to identify and address issues before they result in downtime or business failure.

Over the last twenty-four months, Corvil has nearly doubled its revenues as customers turn to its streaming analytics for insight into IT operations, cybersecurity, and business applications and transactions. 2016 saw not only growth of existing customers, but a 25% year-over-year increase in net new customers across new industries and in emerging markets such as Mexico, Brazil, and Indonesia.

"Our continued growth reflects both a market need for greater depth of insight from machine data sources to empower IT, network, operations, and security teams as well as strong execution of our strategic plan," said Donal Byrne, CEO. "We see business services continue to move from digital to algorithmic, requiring companies to have improved levels of precision, performance, and granularity. With our industry-leading approach to deriving intelligence from network data and with numerous product advances in machine learning, adaptive context enrichment, and machine-time analytics, Corvil is uniquely positioned to satisfy these needs in 2017 and beyond."

In 2016, Corvil

  • Grew year-over-year sales by 50%
  • Secured key wins in cyber threat detection and forensics
  • Launched App Agent to enable customers to gain visibility into intra-application performance
  • Released its Amazon Web Services (AWS) Connector, allowing customers to stream network and analytics data directly into AWS Kinesis to utilize the cloud for big data initiatives using Corvil data
  • Developed unified communications and security apps for Splunk
  • Introduced solutions for precision time-stamped, clock synchronized transaction capture to support MiFID II and other regulatory compliance requirements
  • Launched the world's highest performance analytics appliance for network data with Corvil 8400
  • Named "Indigenous Irish Company of the Year" at Inaugural Data Science Awards
  • Ranked among Top Global Financial Technology Providers in American Banker and BAI's FinTech Forward List

Corvil announced a number of key partnerships and technical alliances in 2016, reinforcing its commitment to provide open access to its rich data analytics and enable customers to leverage existing systems and workflows.

"As IT and digital business infrastructures become more dynamic and complex, spanning multiple services and service providers, customers require efficient, tightly integrated workflows," said David Murray, Chief Business Development Officer at Corvil. "Corvil integrates with our customers' ecosystems to enable them to gain increased value from their current investments; to increase automation; and to achieve greater operational and business value outcomes for network, IT, security, and business operations teams."

Trusted by the most demanding institutions around the world to safeguard critical business, Corvil is the streaming analytics platform for a machine world. 2016 saw a substantial broadening of Corvil's product offerings, with enhanced security, compliance, IT operations, and business intelligence solutions now available. As new regulations, security threats, and technical complexity are introduced to IT infrastructures, Corvil stands out as the only platform able to provide granular transparency across network and application data in real-time.

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About Corvil
Corvil is the industry leader for deriving IT, Security, and Business intelligence from network data. As companies adopt faster and smarter machine technology, it becomes critical to tap into richer and more granular machine data sources to safeguard the transparency, performance and security of critical infrastructure and business applications. The Corvil streaming analytics platform captures, decodes, and learns from network data on the fly, transforming it into machine-time intelligence for network, IT, security and business teams to operate efficiently and securely in this new machine world. Corvil uses an open architecture to integrate the power of its network data analytics with the overall IT ecosystem providing increased automation and greater operational and business value outcomes for its users.

The Corvil solution is trusted by leading financial institutions to safeguard their businesses across the globe involving 354 trillion messages with a daily transaction value in excess of $1 trillion.