SAN FRANCISCO, CA--(Marketwired - Jan 13, 2014) - Nexgate, an innovator in social media brand protection and compliance, today announced record growth and validation of its security and compliance technology with over 50 new customers in 2013, including some of the world's most social brands. Along with its rapid customer growth, in 2013 Nexgate became the go-to social media security and compliance solution for over seven leading social technology vendors, including HootSuite and Salesforce.com. Additionally, the company garnered extensive analyst coverage, was named a top 5 social media startup by CIO.com, a top 2013 startup by Social Media Today, and was recognized by the Society for New Communications Research for technology innovation.
Social media security and compliance is rapidly becoming a boardroom concern as groups like the Syrian Electronic Army (SEA) continually target the social media accounts of large, enterprise brands. In 2013 alone, there were more than three-dozen high-profile hacks of Facebook, Twitter, and other leading social networks, including the accounts of Microsoft/Skype and The Associated Press, which sent the Dow Jones crashing some 150 points.
Additionally, regulators are creating guidelines and imposing fines for organizations operating in financial, retail, and other markets, as social media rapidly becomes a primary market for consumer advertisement and customer service. In December 2013, for example, the FFIEC issued new guidance aimed at helping banks, savings associations, credit unions, and other regulated financial institutions "understand and successfully manage risks" related to social media.
"Netflix is a top 25 social brand and as such, we see both its benefits and risks from fraud, attacks, and regulatory requirements," said Mike Kail, Vice President of IT Operations at Netflix. "We've used Nexgate successfully to help us address those and many other risks, including identifying and taking down hundreds of fake Netflix social media accounts created by fraudsters."
"Social has become a key communication channel for Citrix," said Justin Levy, Director, Social Marketing at Citrix. "Protecting our investment and keeping our brand safe in social media has become a top priority. We are excited to add Nexgate to our social infrastructure stack as a dedicated security layer to stop social media spam, identify potential account hacks, deal with account sprawl, and help with our compliance requirements."
Across all verticals, enterprise social programs are clearly in need of security and compliance within their social media communication channels. Basic point features and excessive workflows are not stopping attacks or mitigating risk from social communications; only a dedicated security layer will protect enterprise brands. With a mission to help CMOs and CIOs safely and successfully build out social programs and infrastructure, three things make Nexgate a leader in its space: The company's core competency in security and compliance, its deep intellectual property, and its dedicated technology for social media risk management.
"We needed to quickly get visibility and measurement of risk across vectors from compliance in Facebook, Twitter, LinkedIn, and the other social media platforms, to security, spam, and acceptable use policy risks," said Micah Fox, Online Expert for Corporate Communications at ING Bank. "Thanks to Nexgate, we have increased our visibility, and we can automatically enforce policies, track their effectiveness, and tune our efforts to positively impact that effectiveness. By addressing social media risk and providing safety, we can more successfully and confidently invest in social media."
Nexgate launched in May 2013 after the company announced series-a funding led by Sierra Ventures and including WindForce Ventures. Since then, the company has amassed an impressive list of customers with triple-digit quarter-over-quarter bookings growth, filed four technology patents, forged partnerships with leading providers of social media management tools, released the first-ever report on the State of Social Media Spam, and research on Roles and Responsibilities for Social Media Risk Management.
"We are pleased to see such impressive growth in our company this year, because that success is a direct function of customer satisfaction with our products," said Devin Redmond, Co-founder & CEO of Nexgate. "We enter 2014 with a strong foundation and rapidly accelerating market adoption, fueled by our continuing customer successes and technology innovation in social media security and compliance."
For more information on Nexgate, visit nexgate.com.
Nexgate provides cloud-based brand protection and compliance for enterprise social media accounts. Its patent-pending technology seamlessly integrates with the leading social media platforms and applications to find and audit brand affiliated accounts, control connected applications, detect and remediate compliance risks, archive communications, and detect fraud and account hacking.
Nexgate is based in San Francisco, California, and is used by some of the world's largest financial services, pharmaceutical, Internet security, manufacturing, media, and retail organizations to discover, audit and protect their social infrastructure.