Webroot leads cyber security market as demand continues to grow
Webroot appears to be moving from strength to strength, experiencing significant revenue growth this year thanks to an increasing demand for cyber security solutions and a few key customer wins.
Increasing business momentum
Strong company momentum in the third fiscal quarter ended March 31, 2016 included 36% growth in business bookings and 9% in consumer bookings, according to the company.
Webroot significantly out-performed the business security software market which grew at only 3.7% in 2015, and the consumer security software market which declined at -5.9%, both according to Gartner. The company was profitable and added substantially to cash reserves in its third fiscal quarter.
“We achieved another quarter of strong growth and profitability,” says Dick Williams, Webroot CEO. “With over 100,000 business customers, a rapidly growing network of service providers, and millions of consumer endpoints protected, we are the proven choice for next-generation endpoint security," he says,
“The expansion of our leading security vendor partnerships also demonstrates that Webroot’s cloud-based collective threat intelligence services are the gold standard in the industry. Webroot’s growth trajectory continues because customers and partners trust our Smarter Cybersecurity approach," says Williams.
New security product introduced
During the quarter, the company released the Webroot BrightCloud Threat Investigator. The new threat investigation tool provides enterprises, managed service providers (MSPs), and managed security service providers (MSSPs) with actionable threat intelligence on individual IPs, URLS, mobile apps, and files.
Security professionals are able to look into the history and context of a threat, and mitigate the effects of a breach, limit exfiltration of customer data or intellectual property, and reduce reputation-related fallout, according to Webroot.
Strategic security partnerships
Growth in the third quarter included a partnership with HPE ArcSight to integrate Webroot BrightCloud Threat Intelligence with HPE ArcSight Enterprise Security Management (ESM).
BrightCloud Threat Intelligence for HPE ArcSight ESM will allow customers to uncover malicious IP addresses in their internal network traffic, accelerate forensic analysis, and prioritise the most serious threats for immediate response by cybersecurity threat teams, according to Webroot.
DenyAll has also enhanced its web application firewalls with BrightCloud IP Reputation data powered by the Webroot Threat Intelligence Platform to detect and block malicious incoming IPs.
In addition to new strategic security partnerships, Webroot released Webroot BrightCloud Threat Intelligence for Palo Alto Networks v1.5. The latest version integrates with Palo Alto Networks Next-Generation Firewall to detect and block malicious incoming IPs.
Compatible with nearly any Palo Alto Networks firewall, collective, real-time BrightCloud threat intelligence can be deployed in a series of virtual environments to deliver accurate and timely threat data to enterprises, Webroot says.
Webroot also released key findings in the Webroot 2016 Threat Brief. The latest edition reveals 97% of malware is unique to a specific endpoint, rendering signature-based security virtually useless. Many attacks are staged, delivered, and terminated within a matter of hours or even minutes, having harvested user credentials and other sensitive information, the research finds.
The data collected throughout 2015 clearly shows that today’s threats are global and highly dynamic, and require a new approach to attack detection that leverages advanced machine learning and up-to-the-second threat intelligence, Webroot finds.