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Data-Centric Audit & Protection Solution Provider Booming in the Wake of GDPR, Cloud Adoption, and Heightened Data Breach Sensitivity
HAWTHORNE, N.J., Sept. 04, 2018 (GLOBE NEWSWIRE) -- STEALTHbits Technologies, Inc., a cybersecurity software company focused on protecting an organization’s sensitive data and the credentials attackers use to steal that data, today announced 69% year-over-year revenue growth for the quarter ending June 30, 2018.
Powerful Market Forces and Strong Product Portfolio Driving Demand
As a leader in the Data Access Governance (DAG) space, and an increasingly important component of the Data-Centric Audit & Protection (DCAP) market of solution providers, STEALTHbits’ recent growth has been spurred by a number of contributing factors. Chief among these are the recently enforced European Union General Data Protection Regulation (EU GDPR), data privacy concerns during migrations of on-premises resources to cloud-based data repositories, and a heightened sensitivity to data breach incidences along with the negative outcomes that accompany them. In preparation and response to these powerful market forces, STEALTHbits has made significant investments in their already expansive portfolio of products and solutions.
Growth on Multiple Fronts
Outside of contributing market forces, STEALTHbits has made significant investments in overall employee growth with a nearly 27% year-over-year growth rate, senior-level talent acquisition and new physical locations in Southern California, Oregon, and England since the start of 2018. In preparation for 2019, STEALTHbits will continue to hire and aggressively expand their existing footprint in the Data Access Governance and Active Directory Management & Security markets, in addition to new spaces within cybersecurity.
“The investments we’ve made in people, our platforms, and our company over the past year have paid off massively,” commented STEALTHbits CEO Steve Cochran. “We’re firing on all cylinders right now and are doing all the right things to carry this momentum through to the end of the year and into 2019.”
Happy, Satisfied Customers
A significant contributor to STEALTHbits’ success historically has been a steadily growing and satisfied customer base. This has continued in 2018. The Q2 2018 and H1 2018 customer retention rates came in at 96% and 96.5% respectively, with nearly half of new bookings being driven by existing customers in the first half of the year. Low customer churn is also a significant contributor to STEALTHbits’ growth and profitability.
ABOUT STEALTHBITS TECHNOLOGIES
Identify threats. Secure data. Reduce risk.
STEALTHbits Technologies, Inc. is a cybersecurity software company focused on protecting an organization's sensitive data and the credentials attackers use to steal that data. By removing inappropriate data access, enforcing security policy, and detecting advanced threats, we reduce security risk, fulfill compliance requirements, and decrease operations expense.
The STEALTHbits logo and all other STEALTHbits product or service names and slogans are registered trademarks or trademarks of STEALTHbits Technologies, Inc. All other trademarks and registered trademarks are property of their respective owners.
Madison Alexander PR
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