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Tufin Announces Record-Setting Growth Fueled by Increased Demand for a Policy-Based Approach to Network SecurityBOSTON, March 12, 2018 /PRNewswire/ -- Tufin®, the market-leading provider of Network Security Policy Orchestration solutions, announced its 2017 results, reporting 35 percent revenue growth year-over-year (YoY) with positive cash flow. The company also reported strong customer renewal rates of over 90 percent.
2017 was a record-setting year for Tufin, as the company closed nine deals worth over $1 million, including the largest deal in company history – a $15 million multi-year agreement with a Fortune 500 customer. Tufin now has more than 2,000 customers across the globe, including more than 300 customers in the Global 2,000. Enterprises increasingly see the need for and the value of automation solutions as they seek ways to become more agile and secure. At the same time, adoption of cloud platforms also continues to grow. As evidence of these trends, Tufin saw nearly 80 percent of product bookings in 2017 from automation solutions and reported that its cloud business more than doubled YoY. "Our continued growth in 2017 is proof that more and more organizations are turning to a policy-based approach to keep pace with the frequency of network security change requests," said Ruvi Kitov, CEO, Tufin. "Our automation solutions enable even the largest, most complex enterprises to increase business agility while tightening security. These customers trust Tufin to manage their network security in the face of increased threats and constant change, and as such, we look forward to another year of rapid growth." As a testament to Tufin's growth in 2017, the company won a Cybersecurity Excellence Award in the category of Fastest Growing Cybersecurity Company. Continued Innovation through Technological Partnerships Responding to the market demand for automation and cloud, Tufin made major updates to the award-winning Tufin Orchestration Suite. This continued investment included advancing Tufin's technological partnerships with industry leaders. Major updated offerings include:
Expanded Geographic Presence and Executive Management Team In August, Tufin announced the appointment of Raj Motwane as Vice President of Global Services and Support. Raj leads Tufin's services, support and customer success organizations, ensuring that all Tufin customers derive the greatest value from their Tufin Orchestration Suite deployments. Raj brings a track record of building and growing professional services, pre-sales, and customer support functions. In addition, Tufin continued its hiring initiatives, growing its employee base by more than 25 percent. The company plans to expand its workforce to more than 400 employees in 2018. Worldwide Customer Events Tufinnovate brought together network security professionals within the NSPM market, including users of Tufin Orchestration Suite, representatives from Tufin's technology partners Cisco, Fortinet and VMware, and channel partners. With events in Chicago and Frankfurt, Tufinnovate drew more than 200 attendees from around the world. "The many events we hosted this year gave us the opportunity to engage with hundreds of security professionals from around the world," said Raj Motwane, Vice President, Global Services and Support, Tufin. "This level of customer engagement is invaluable. It's helped to not only provide direct user feedback to Tufin's product teams, but also to empower network security professionals across the globe." About Tufin Follow Tufin on Twitter: @TufinTech Read more on Tufin's blog: Suite Talk Contact:
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