Company ends successful year with 200% growth in revenue, and over 150% increase in personnel despite worldwide turbulence
NEW YORK and RISHON LETZION, Israel, Jan. 13, 2021 /PRNewswire/ -- Cymulate, the only SaaS-based Continuous Security Validation platform to operationalize the MITRE ATT&CK® framework end-to-end, today announced it has achieved 200% revenue growth globally and 300% growth in North America in 2020 new bookings. The company attained 90% customer retention with the number of employees increasing by over 150% over the last 12 months as operations extended across Europe and the US to support sales.
New partnerships established in 2020 with Pax8, a cloud solutions provider and Ingram Micro, one of the largest technology solution enablers as well as more expected partnerships, are one of the key factors expected to fuel 2021's growth. Cymulate became the only BAS vendor to offer its solution through the AWS Marketplace, enabling security validation customers to immediately assess, evaluate and gain real visibility into their security posture.
Cymulate took BAS customization and automation to the next level with the launch of the industry's first Purple Team module. This new open security validation framework empowers companies to orchestrate attacks exactly as they would experience in real life without requiring highly skilled experts, and offers customization for more advanced users. The company also achieved System and Organization Controls 2, Type II (SOC2 Type II) compliance in addition to ISO 27001 certification, which ensures adequate measures and procedures to protect its clients' sensitive data.
Cymulate's survey with the Ponemon Institute highlighted that 78% of companies do not have high confidence in their security controls and 43% either do not test them or do so only when an incident occurs. While 62% acquired new security technologies and 59% had to relax some security policies to support working from home, only 38% tested the security that protected the new attack paths created by remote work. To help bolster company security defenses during the pandemic, Cymulate offered a complimentary 60 day-free license for new customers. The offer, which has been leveraged by hundreds of enterprises to date, is currently valid for a short time period for those wanting to validate and optimize their security at the outset of 2021.
"The end of 2020 saw the culmination of an unprecedented year with an increasing magnitude of cyber-attacks. Our solid growth proved the value for organizations to adopt our unique approach of continuous security assessments," said Eyal Wachsman, Co-Founder and CEO of Cymulate. "Together with the dedication and hard work of our team, we succeeded in providing our customers with advanced platform capabilities that solve critical security needs. We look forward to helping more companies navigate an increasingly complex and hostile environment in 2021."
Cymulate is deployed by hundreds of customers. These include non-profits and healthcare organizations, public and private healthcare companies, general institutions, companies in the space of IOT and communication, financial companies and stock exchanges and critical infrastructure and manufacturing.
"Cymulate's continuous security validation assists companies with a mature security posture in understanding the need for frequent validation. As cyber-attacks increase in sophistication, identifying the security gaps in a timely manner is becoming a critical component of every organization's security program. Automating security risk assessments across the kill chain enables CISOs and their teams to challenge, assess and simply optimize their cyber posture and control the dynamic environment they operate in," said Hilik Kotler, CISO, FICO and Advisory Board member, Cymulate.
Additional 2020 company highlights include:
- Discovery of a method for attackers to run malicious code via Microsoft's Remote Desktop Protocol (RDP) using a technique known as DLL Side-Loading
- The appointment of Brian Stone as the Company's Chief Revenue Officer to accelerate worldwide growth
- Established a North American based advisory board of seasoned industry leaders
- Won several awards including:
- Cymulate's Co-founder and CTO Avihai Ben Yosef included in Forbes Israel 30 under 30
- Gold in the Breach and Attack Simulation, Detection and Protection category by Info Security's PG Global Excellence Awards
- First place in the Breach and Attack Simulation category in the InfoSec Awards 2020 by Cyber Defense Magazine
Cymulate's Continuous Security Validation enables companies to challenge, assess and optimize their cyber-security posture against the evolving threat landscape, simply and continuously. The platform provides out-of-the-box, expert and threat intelligence led RISK assessments that are simple to use for all skill levels, and constantly updated. It also provides an open framework for ethical hackers to create and automate red and purple team exercises and security assurance programs tailored to their unique environment and security policies. Cymulate helps security professionals to know and control their dynamic environment.