Skybox Security Announces Substantial Growth in 2007 and Strong Momentum Going into 20081
SAN JOSE, CA – March 10, 2008 – Skybox® Security, Inc., the leader in Security Risk Management, today announced strong sales momentum for 2007 and a positive business outlook for 2008. The company posted solid bookings with both new and existing customers in 2007 and reported growth of 75% sequentially year over year. In addition, the company expects to turn profitable and cash flow break-even during 2008.
In early 2007, the company announced Skybox View® 3.5, the industry’s first modular suite for proactively identifying IT security risk and compliance exposures for enterprises, government agencies, and service providers. The company’s award-winning product suite is comprised of five products that share a common, scalable software platform called Skybox View. Each product can be deployed independently or combined to solve a variety of business problems.
The installed base for Skybox View surpassed 120 in 2007, demonstrating rapid industry acceptance for the company’s products. Skybox counts as its customers a “who’s who” of the Global 2000 representing some of the most security-conscious enterprises in the world including Barclays Capital, AstraZeneca, Standard Chartered Bank and IZB. These organizations have large, complex and globally dispersed networks in highly-regulated markets including financial services, banking, insurance, pharmaceutical, retail, government, technology and telecommunications.
Heading into 2008, the company is well positioned to deliver on its theme: “Leverage through Partnerships.” During 2007, Skybox launched a global partnership program. Through this program, Skybox has developed a variety of go-to-market alternatives to enable partners to serve a higher percentage of the market including small-to-medium size businesses. To date, Skybox has assembled an impressive channel of partners composed of leading Systems Integrators, Managed Security Services Providers, and Security VARs including VeriSign, Wipro and British Telecom. These partners resell Skybox products, provide comprehensive integration services or embed Skybox technology to deliver innovative new security risk and compliance products and services powered by Skybox View.
Skybox Security markets two product lines: Skybox Secure™ and Skybox Assure™ - both supported by a common, scalable platform called Skybox View. By using Skybox products, enterprises can protect their hard-earned reputation and irreplaceable brand by accurately pinpointing and prioritizing high areas of risk and compliance exposures in minutes. Unlike reactive and expensive to operate IT Security point products, Skybox products enable organizations to assess, quantify or analyze security risk and compliance exposures on a continuous basis as well as automate labor-intensive processes. The result of using Skybox solutions is a significant savings in time, people and money with customers often realizing a ROI in months, rather than years.