AlgoSec Continues Sales Growth and Expansion of Operations in 2012

Network Security Policy Management Vendor Attains Record Number of New Customers

February 05, 2013

Boston, MA – AlgoSec, the market leader for Network Security Policy Management, today announced its eighth consecutive year of sales growth, with an average annual sales growth of 54% over the past three years. AlgoSec’s success is marked by impressive worldwide customer adoption of the AlgoSec Security Management Suite, now used by more than 1000 organizations, including 15 of the Fortune 50 and 43 of the Forbes 100 list of global companies.

2012 marked additional significant milestones including new technology partnerships with Palo Alto Networks, McAfee and Blue Coat, the expansion of AlgoSec’s award-winning Channel Program and new releases of the AlgoSec Security Management Suite that deliver the broadest support for network security devices, more automation and deeper policy analysis.

“Enterprise organizations are constantly looking for intelligent automation to address the growing challenges around managing complex network security environments and cyber threats, which is why we continue to experience strong growth,” said AlgoSec’s Co-Founder, CEO and CCSO (Chief Customer Satisfaction Officer), Yuval Baron.  “In 2012, we successfully deployed five multi-million dollar projects, further extending our market leadership, which is driven by continued product innovation, cultivating relationships with best-in-class channel partners, and our endless dedication to customer satisfaction.”

Key Company Milestones:

• Added 190 new customer accounts worldwide (a rate of approximately one new customer every 1.3 business days).
• 8th straight year of growth, profitability and positive cash.
• 88% of AlgoSec customers say they are “satisfied” or “very satisfied” with their implementation
• Added 90 new channel partners worldwide and new channel directors in North America and Europe as part of expansion efforts around the AlgoSec Channel Partner Program.
• Achieved a 76% win rate on competitive deals worldwide.
• Increased employee headcount worldwide by 30 percent.
• Added new technology partnerships with leading vendors such as Palo Alto Networks, McAfee and Blue Coat.

Key Product Highlights:

• Announced AlgoSec BusinessFlow, a groundbreaking product that automates security policy management for business applications and provides the crucial link between application connectivity requirements and the underlying security policy.
• Delivered the industry’s first solution offering both automated policy analysis and complete change management for Palo Alto Networks devices.
• First to offer support for the Application Control and Identity Awareness Software Blades on the Check Point R75 platform.
• Announced the industry’s first support Blue Coat ProxySG Secure Web Gateway appliances (SWGs) to simplify and expedite change workflow management.

Industry Accolades: 

• Awarded 5 out of 5 stars in the SC Magazine Risk and Policy Management group test review for third consecutive year.
• Achieved top 10 ranking as a fast growing company for the third consecutive year on the Deloitte Technology Fast 50.
• Named a Finalist in the Red Herring Top 100 North America awards for a second consecutive year.

“We see accelerated demand for our products and 2013 has the makings of another banner year for our market and for AlgoSec as we are uniquely positioned to solve critical security management and cyber security problems for the world’s largest organizations,” said Baron. “We are confident that our latest innovations, coupled with our unrelenting focus on customer satisfaction, will continue to make AlgoSec the partner of choice for improving security and business agility for the world’s leading companies.”
About AlgoSec
AlgoSec is the market leader in network security policy management. AlgoSec enables security and operations teams to intelligently automate the policy management of firewalls, routers, VPNs, proxies and related security devices, improving operational efficiency, ensuring compliance and reducing risk.

More than 1000 of the world’s leading enterprises, MSSPs, auditors and consultancies rely on AlgoSec Security Management Suite for unmatched automation of firewall operations, auditing and compliance, risk analysis and the security change workflow.

AlgoSec is committed to the success of every single customer, and offers the industry’s only money-back guarantee.

For more information, visit www.AlgoSec.com.

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