SOURCE: TraceSecurity

TraceSecurity

May 08, 2013 08:17 ET

TraceSecurity Named 2013 Red Herring Top 100 North America Award Finalist

Red Herring Top 100 North American Award Honors This Year's Most Promising Private Technology Ventures in North America

BATON ROUGE, LA--(Marketwired - May 8, 2013) - TraceSecurity, the pioneer in cloud-based IT governance, risk and compliance (GRC) solutions, today announced that it had been selected as a finalist for Red Herring's Top 100 North America award, a prestigious list honoring the most promising private technology ventures from the North American business region in 2013.

TraceSecurity's flagship product, TraceCSO, is the industry's first cloud solution for a holistic and risk-based information security program that delivers comprehensive visibility and accountability for improved risk and compliance profiles across all areas of an organization, including cloud environments. TraceCSO allows organizations of any size, industry or security skill set to evaluate, create, implement and manage a comprehensive risk-based information security program, to protect their organizations from today's top information security risks, including cloud security and "bring your own device" (BYOD) concerns.

Red Herring has been selecting the most exciting and promising start-ups and "scale ups" since 1995. Finalists are evaluated individually from a pool of hundreds of candidates across North America. Twenty major criteria underlie the scoring and process, including the candidate company's addressable market size, its IP and patents, its financing, the proof of concept, trailing revenues, and management's expertise. Each company goes through an individual interview after filling out a thorough submission, complemented by due diligence. The list of finalists often includes the best performing and prominent companies of that year. This unique assessment is complemented by a review of the company's track record and standing, which allows Red Herring to see past the "buzz" and make the list a valuable instrument for discovering and advocating the greatest business opportunities in the industry.

2013 will be remembered as a special vintage. "The finalists list confirms the excellent choices made by entrepreneurs and VCs and the start-ups' solid roots in corporate America, embracing their innovations," said Alex Vieux, publisher and CEO of Red Herring. "By all metrics, it emphasizes the United States' entrepreneurial excellence."

Finalist selections for the 2013 edition of the Red Herring 100 North America Award are based upon technological innovation, management strength, market size, investor record, customer acquisition and financial health. During the several months leading up to the announcement, hundreds of companies in the fields of security, Web 2.0, software, hardware, life sciences, cloud, mobile and others completed their submissions to qualify for the award.

"Red Herring has been evaluating and recognizing talented and promising companies for years," said TraceSecurity CEO Peter Stewart. "TraceSecurity is honored to be named a finalist and recognized for such a prestigious award. With the launch of TraceCSO, TraceSecurity introduced technological innovation yet unseen in the industry. The market potential is tremendous for this solution, and we are already seeing significant traction among the markets we serve."

Finalists are asked to present their winning strategies at the Red Herring North America Forum in Monterey, Calif., May 21 to 23. The top 100 winners will be announced at a special awards ceremony the evening of May 23 at the event.

About TraceSecurity
TraceSecurity, the leading pioneer in cloud-based security solutions, provides IT governance, risk and compliance (GRC) management solutions. The company's cloud-based services help organizations achieve, maintain and demonstrate security compliance while significantly improving their security posture. With more than 1,500 customers, TraceSecurity supports the security and risk management efforts of organizations in financial services, healthcare, high-tech, insurance, government, education and other regulated sectors. Founded in 2004, the company has executive offices in Silicon Valley and offices in Baton Rouge, La. For more information, call (225) 612-2121 or visit www.tracesecurity.com.

© 2013 TraceSecurity. TraceSecurity and TraceCSO are registered trademarks of TraceSecurity. All rights reserved worldwide.