Arxan Growing At More Than 2X The Rate Of App Security Market
Additionally, based on our reputation as a clear leader in the application security market, we continue to add new customers via word of mouth, customer referrals, and analyst recommendations."
SAN FRANCISCO, Jan. 30, 2019 /PRNewswire/ -- Arxan Technologies, the trusted provider of application protection solutions, announced today the company experienced unprecedented growth in new bookings in Q4 2018 of 70 percent year-over-year, and is projecting continued growth in the first quarter of 2019. Because of the high demand for Arxan's app protection technology and the introduction of innovative solutions such as Arxan Threat Analytics and Arxan for Web, the company overall is experiencing more than 20 percent annual growth rate, which we calculate is twice that of the enterprise app security market.1 The company protects over one billion application endpoints worldwide, counting many of the world's top companies among its customers, including:
- 16 of the Fortune 100
- 30 of the largest banks in EMEA and North America
- Seven of the top 10 digital media companies
- Four of the top five gaming companies
- Three of the top five automotive manufacturers
"The world's leading companies trust Arxan's technology to keep their most valuable applications secure when deployed in uncertain and untrusted environments," says Joe Sander, CEO of Arxan. "As a result of our deep expertise and partnership with customers, we continue to experience significant growth within our customer base as we protect more and more applications within those organizations. Additionally, based on our reputation as a clear leader in the application security market, we continue to add new customers via word of mouth, customer referrals, and analyst recommendations."
Arxan boasts a sustained 70 percent Net Promoter Score (well above the 41 percent benchmark for software) and nearly 100% gross revenue retention rate for the company's banking customers. The company continues to push innovation and lead the app security market, offering breakthrough innovations in analytics and web app protection, which combined contributed 20 percent of new bookings revenue in Q4 2018:
- Arxans Threat Analytics launched in April 2018. This sought-after service offers the industry's first "closed-loop" process that allows business owners to understand on day one who, how and from where applications are being attacked – while attacks are in progress – and rapidly deploy countermeasures before the attack is completed or becomes more widespread.
- Arxan for Web, launched in September 2018, enables organizations to defend against server side (API) attacks and credential theft, offering both passive and active protection as well as real-time alerting. At a time when Magecart has attacked over 40,000 websites, with a 20 percent re-infection rate2, this service is critical to any business utilizing the web.
"Applications have become organizations' most vulnerable and attractive targets to bad actors today. Legacy perimeter-focused and 'outside in' approaches, such as web application firewalls, mobile threat defense, and endpoint security, are blind to what's happening at the application endpoint and simply weren't built to protect applications where they run, which is where hackers are most likely to breach companies today," says Mark Lorion, SVP Operations, Arxan. "Arxan is uniquely positioned to address these gaps by protecting the client side of applications from the 'inside out,' and detecting and adapting to application attacks in real-time."
About Arxan Technologies
Arxan, a global trusted leader providing the industry's most comprehensive application protection solutions, works with organizations looking to protect applications and to securely deploy and manage business-critical apps to the extended enterprise. Arxan currently protects more than one billion application instances across many industries including financial services, mobile payments, medical devices, automotive, gaming, and entertainment. Unlike legacy security providers that rely on perimeter-based barriers to keep bad actors out or that require device management controls, Arxan products protect at the application-level from the inside out. This approach protects the source and binary code to expand the corporate perimeter of trust. Arxan provides a broad range of patented security capabilities such as a dynamic app policy engine, code hardening, obfuscation, white-box cryptography and encryption, and threat analytics. Founded in 2001, Arxan is headquartered in North America with global offices in EMEA and APAC. For more information, please visit www.arxan.com or follow @Arxan on Twitter.
1 Gartner cites a 9.4% compound annual growth rate in the enterprise market for application security worldwide between 2017-2022 (Gartner, Forecast: Information Security and Risk Management, Worldwide, 2016-2022, 3Q18 Update, Rustam Malik, Deborah Kish, et al.,19 November 2018)
2 https://gwillem.gitlab.io/2018/11/12/merchants-struggle-with-magecart-reinfections/
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SOURCE Arxan
