Achieves 95 Percent Revenue Growth Since Launch of Next-Generation Email Security Platform
SAN MATEO, Calif. – Jan. 10, 2017 – Agari, a leading cybersecurity company, today announced a year of tremendous growth, achieving 95 percent revenue growth for the second half of 2016, led by the rapid adoption of Agari Enterprise Protect, the industry’s first solution that stops sophisticated social engineering-based email attacks including spear phishing and Business Email Compromise (BEC). The company also expanded into new vertical markets, with major customer wins driven by growing enterprise adoption of cloud email services including Microsoft Office 365 and Google G Suite.
“Email security is a board-level topic for organizations of all sizes, as it’s no longer a matter of ‘if’ but ‘when’ a cyberattack will occur. Enterprises are having to rethink how they can protect their employees, customers and partners from these sophisticated email attacks that circumvent ‘traditional’ security solutions,” said Ravi Khatod, CEO for Agari. “Over the past year, we have put the final pieces in place to ensure Agari is at the forefront of this battle for cybersecurity. The Agari Email Trust Platform is the only solution available today that actively prevents advanced email attacks that use identity deception to trick people into giving away confidential information that puts our personal data, as well as our security at risk.”
Agari highlights for 2016 include:
- Platform Success: Organizations are becoming more proactive about strengthening their email security defenses to protect their customers, partners and employees. In 2016, the Agari Email Trust Platform analyzed more than 2.4 trillion email messages. Of these messages, 6.8 billion malicious emails were blocked, enabling the protection of more than 64,000 customer domains.
- Corporate Growth: Agari raised $24 million in funding, led by Norwest Venture Partners, to accelerate development and deployment of the Agari Email Trust Platform, the industry’s only solution that stops targeted email attacks by understanding the true identity of email senders. In addition, the company introduced several new members to the executive team: Ravi Khatod as Chief Executive Officer, Raymond Lim as Chief Financial Officer, Markus Jakobsson as Chief Scientist, Seth Knox as Vice President of Marketing and Steve Bell as Vice President of Sales for North America.
- Global Adoption: Agari added the largest retailer in Europe, as well as the largest bank in Germany to its customer base in 2016. The company also signed up its first customers in the ANZ (Australia and New Zealand) and APAC (Asia Pacific) regions. Agari achieved a customer renewal rate of 100 percent in the fourth quarter of 2016.
- Industry Expansion: The company expanded its reach into several vertical markets, signing up the world’s largest airline, as well as the United States federal government’s second largest civilian agency. In addition, Agari signed its first seven-figure deal with a new customer for the full Agari Email Trust Platform including Agari Enterprise Protect and Agari Customer Protect.
- Product Innovation: The company launched Agari Enterprise Protect, which identifies and stops targeted email attacks, even those that don’t include a malicious payload, protecting organizations from email-based data breaches, financial theft, malware delivery, credential theft and critical system compromise. In addition, the company introduced Email Cloud Identity, a new capability in the Agari Email Trust Platform that enables organizations to automatically identify, monitor and manage the 64 percent of outbound email sent on their behalf by third-party email senders.
- Industry Accolades: The company was named to the Forbes 2016 World’s Best 100 Cloud Companies List.
Agari, a leading cybersecurity company, is trusted by leading Fortune 1000 companies to protect their enterprise, partners and customers from advanced email phishing attacks. The Agari Email Trust Platform is the industry’s only solution that ‘understands’ the true sender of emails, leveraging the company’s proprietary, global email telemetry network and patent-pending, predictive Agari Trust Analytics to identify and stop phishing attacks. The platform powers Agari Enterprise Protect, which help organizations protect themselves from advanced spear phishing attacks, and Agari Customer Protect, which protects consumers from email attacks that spoof enterprise brands. Agari, a recipient of the JPMorgan Chase Hall of Innovation Award and recognized as a Gartner Cool Vendor in Security, is backed by Alloy Ventures, Battery Ventures, First Round Capital, Greylock Partners, Norwest Venture Partners and Scale Venture Partners. Learn more at https://www.agari.com and follow us on Twitter @AgariInc.
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