SOURCE: RedSeal

RedSeal

October 06, 2015 09:00 ET

RedSeal Announces Record-Breaking Financial Results for Third Quarter 2015

SUNNYVALE, CA--(Marketwired - Oct 6, 2015) - RedSeal (redseal.co), the cybersecurity analytics company, today announced record-breaking financial results for the quarter ended Sept. 30. Bookings reached $13.6 million, the highest recorded in a quarter in the company's history and more than double the year over year quarter. Leveraging new product innovations, RedSeal not only signed 16 new customers in the quarter but also expanded its presence in a number of important large enterprises.

"When we closed our Series C round of financing earlier this year, we made a calculated set of investments that is clearly beginning to pay off," said RedSeal Chairman and CEO Ray Rothrock. "This included investing heavily in our engineering initiatives, which drives the innovation that separates us from competitors. We also positioned RedSeal to be a leader in cyber resilience. Further, we increased our professional services function to speed the time-to-value for customers."

"Aside from investments in engineering and marketing, we also expanded internationally. We established RedSeal Japan KK, a wholly-owned subsidiary, which is already generating revenue. It's gratifying to see such spectacular results. In fact, we intend to allocate a significant portion of both this and next quarter's positive cash flow to double-down on our investments in technology, marketing and global sales, including introducing new channel programs with expanded domestic and overseas coverage," Rothrock commented.

In early July, RedSeal announced the general availability of RedSeal 8. In addition to its end-to-end network analysis and prioritization of enterprise vulnerabilities based on business risk, RedSeal 8 includes faster incident response with Layer 2 visibility, the RedSeal Network Resilience Score™, and cloud connectivity (Amazon Web services and VMware vShield). An industry first, RedSeal 8 quantifies a network's cyber resilience and displays it, and the time trend, through a state-of-the-art risk assessment control panel and a smartphone app for executives.

Analyst and market observers are taking note of RedSeal's momentum. Last quarter, the company was named a Red Herring Top 100 North America 2015 Winner and is currently being named to additional fast-track lists.

The company also added to its management ranks to enable and support the dynamic growth demanded by modern cyber deployments. In August, RedSeal named Kurt Van Etten as VP Product Management and Gordon Adams as Chief Revenue Officer. RedSeal is seeking to further expand its team, particularly in sales and engineering (see openings here).

About RedSeal (redseal.co)
RedSeal provides a cybersecurity analytics platform to Global 2000 organizations that helps maximize digital resilience against cyber events. RedSeal's advanced analytics engine creates functioning network models, tests networks to identify security risks, prioritizes needed actions, and provides critical information to quickly remediate issues. The result: measurable reduced cybersecurity risk and lower incident response and maintenance costs. With operations in North America, Europe, and Asia, RedSeal customers include leaders in finance, retail, technology, utilities, service providers, and government, all served by RedSeal's channel partner network.

Visit redseal.co or call 1-888.845.8169 for more information.

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