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Hybrid SaaS Security Services Pioneer EiQ Networks Posts Record-Breaking Year With 178% Year-over-Year GrowthEiQ Networks, a pioneer in hybrid SaaS (News - Alert) security and continuous security intelligence services, today announced a record-breaking year in 2015, following on the recent completion of its Series C funding round as well as multiple new customer and partner announcements. EiQ saw a 178% year-over-year increase in its SOCVue® sales and 166% year-over-year growth in its customer base, which uses SOCVue to identify threats and vulnerabilities, mitigate risks, and enable compliance. Last week, EiQ announced it had closed $9.55 million in a Series C financing round led by Arrowroot Capital, a growth equity firm based in Santa Monica, California. Both EiQ founders, Vijay Basani and Jay Reddy, also participated in that round. EiQ will use the funds to accelerate new customer acquisition through increased investment in sales and marketing initiatives as well as Hybrid SaaS security services delivery. "2015 was a tremendous year for EiQ. This was made possible due to the hard work and commitment from every member of the EiQ team to help improve our customers' security and compliance posture," said Vijay Basani, Founder, President and CEO of EiQ Networks. "With the recently announced funding and the amazing traction we have seen in 2015, we are looking forward to growing the reach of EiQ's SOCVue services even faster as well as introducing additional security services and solutions in 2016. I would like to thank our customers for partnering with us to protec against the ever-evolving cyber security and compliance challenges." Additional 2015 highlights include:
With outstanding product innovation, customer service delivery, continuing employee expansion, and strategic investments, EiQ continues to help mid-market organizations (those with fewer than 5,000 employees) with proactive detection of threats, policy violations, and vulnerabilities and timely remediation guidance at a fraction of the cost of alternate solutions. EiQ's SOCVue is the only subscription SaaS service that combines people, process, and technology to deliver a cost-effective information security program, including:
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