[February 03, 2015]

Xceedium, Inc. Achieves Record Year-over-Year 2014 Growth

Xceedium®, Inc., the premier provider of privileged identity management for hybrid enterprises, today announced record 2014 year-end results, revealing total year-over-year revenue growth of 70 percent. Xceedium continued to expand its enterprise customer base in all sectors, including financial services, retailing, telecommunications, manufacturing, information technology, and energy. Additionally, Xceedium grew its public sector business in both the United States and abroad, including agencies in the civilian, intelligence, and defense communities.

"2014 represents a landmark year for Xceedium across both public and private sectors," said Glenn Hazard, chairman of the board and chief executive officer. "Our 2014 growth reflects an increased global awareness that security breaches, whether external or internal, cannot be deterred without managing and controlling the risks posed by privileged users, accounts, and administrative credentials. It is clear that Privileged Identity Management has now become a necessary new security layer for protecting the enterprise."

"In an increasingly dangerous environment, organizations are examining their network and information security postures, making risk mitigation a strategic, board-level priority," added Mordecai Rosen, chief operating officer. "Xceedium has invested more than any other vendor in integrating with virtualized and cloud-based infrastructure, and our customers value our proven ability to protect this new hybrid enterprise. After an extremely successful 2014, we are already on a track for an even more exciting 2015."

2014 Financial Highlights:

• Year-over-year growth rate of 70 percent, driven by both new customer acquisitions as well as expanded deployments within existing customers
• Subscription revenue growth of 330 percent
• Achieved balanced revenue split of 55 percent from Global 2000 enterprises and 45 percent from government agencies; 17% of total revenue wa generated from customers outside the United States
• Grew workforce by 22 percent in 2014, reflecting increased demand for product implementations

• Awarded four core patents for privileged identity management, including:
  • US Patent 8,595,794 covering direct and brokered privileged user access to remote resources by authenticated users based on defined policies
  • US Patent 8,732,476 protecting the automated monitoring of privileged user sessions - for both individuals and programmatic interactions - and the ability to proactively intercept and prevent policy violations, and to take remedial actions
  • US Patent 8,819,763 protecting a system for granting administrative users selective access to managed systems based on fine-grained, dynamic access policies
  • US Patent 8,831,011 covering secure privileged access across multi-point networks from a single client
• Released new versions of flagship product, Xsuite^®, with broader enterprise, VMware Software Defined Data Center (SDDC), and Amazon Web Services (News - Alert) (AWS) cloud support
• Released a new enterprise-class Xsuite hardware appliance capable of supporting thousands of concurrent managed privileged sessions from a single appliance
• Established expanded technology partnership with VMware, collaborating to develop a comprehensive version of Xsuite for VMware NSX
• Achieved significant deployments of Xsuite throughout major United States Federal Government agencies in the civilian, intelligence and defense communities

As the speed and sophistication of cyber attacks continue to accelerate, organizations must redefine the network perimeter, focusing on identity and implementing solutions that protect and defend privileged access from exploit and compromise, simplify compliance, and ease administrative overhead. As the only PIV/CAC, hybrid cloud enabled cybersecurity provider with the highest federal security certifications, Xceedium's award-winning Xsuite leverages a zero-trust privileged identity management model that vaults privileged account credentials, implements role-based access control, and monitors and records privileged user sessions.

About Xceedium®, Inc.

Xceedium, Inc., is a network security software company and the leading provider of privileged identity management solutions for enterprises. Large companies and global government agencies use Xceedium's products to reduce the risks privileged users and unprotected credentials pose to systems and data. Xceedium's award-winning product, Xsuite, vaults privileged account credentials, implements role-based access control, and monitors and records privileged user sessions. With unified policy management, the Xsuite platform enables the seamless administration of security controls across systems, whether they reside in a traditional data center, a private cloud, on public cloud infrastructure, or any combination thereof.

Xceedium's solutions enable organizations to comply with security and privacy mandates, such as PCI DSS, FISMA, HIPAA, and NERC (News - Alert) CIP. The company's products provide industry-leading reliability, availability, and scalability, and they are the most highly certified products in the market, with designations including FIPS 140-2 validation, Common Criteria EAL4+ certification, and inclusion on the U.S. DOD Unified Command Approved Products List (UC/APL). For more information, please visit www.xceedium.com.

[ Back To TMCnet.com's Homepage ]