Demisto, an innovator in Security Automation and Orchestration technology, today announced a record year for 2017 which saw customer growth jump 300 percent over the previous year, including adding six new Fortune 500 companies. Demisto also doubled its workforce, significantly grew its partner network, and expanded functionality and distribution of its offering in the Security Orchestration, Automation and Response (SOAR) space.
As a result of its rapidly accelerating business and to help fuel future growth, Demisto also announced naming Udi Mokady, Chairman and CEO of CyberArk, to its Board of Directors. Recognized as a pioneer in establishing the Privileged Account Security software market, since becoming CEO in 2005 Mr. Mokady's leadership and direction has helped guide CyberArk to strong record growth, while accelerating overall market adoption for privileged account security solutions to protect against an evolving advanced threat landscape. Since co-founding the company in 1999, Mr. Mokady has also served as CyberArk's chief strategist and visionary, overseeing global expansion, management, execution and corporate development.
"I've had my eye on Demisto since its inception in 2016, and its impressive market adoption validates the industry's need for a comprehensive SOAR solution," said Mr. Mokady. "I look forward to working with the founding team to accelerate growth and gain worldwide brand recognition."
In 2017, Demisto's adoption expanded globally which contributed to its record customer growth rate of 300 percent over 2016. The list of new Fortune 500 customers includes a global, online payments provider; a semiconductor manufacturer; a software provider for human resources management; a consumer cosmetic company; and two energy conglomerates. The growth validates the industry's need for SOAR technologies as companies worldwide continue to deal with security issues that threaten the protection of their private data and reputations. For more information on SOAR technologies as defined by Gartner, see http://go.demisto.com/gartner-security-orchestration-automation-and-response-soar-report.
According to Gartner, "By year-end 2020, 15 percent of organizations with a security team larger than five people will leverage SOAR tools for orchestration and automation reasons, up from less than 1 percent today."
During 2017, Demisto continued to enhance its SOAR product features for enterprises, including launching the industry's first Security Operations Platform with machine learning that learns from analysts' actions used to resolve incidents to optimize future incident response. Earlier in the year, Demisto introduced the industry's first comprehensive incident management platform to offer integrated threat intelligence. The company also released its cloud SaaS offering for organizations and Security Operations Center (SOC) analysts to dramatically improve mean time to response (MTTR) and more efficiently respond to cyber threats with a flexible hosted deployment and subscription pricing.
"It has been an exciting ride at Demisto and we are bracing ourselves for the next big wave of growth in the years to come," said Slavik Markovich, CEO of Demisto. "We are firing on all cylinders with an innovative SOAR product seeing significant demand worldwide. And we are pleased to have visionary board members such as Udi to help guide us in our next phase of growth."
Demisto Enterprise integrates with more than 150 security products and enables organizations to build playbooks for different security operations. By integrating other security products with Demisto, users can orchestrate actions across a suite of products in one window, automate response actions through playbooks, and run live security commands from a collaboration interface to remediate threats, all of which can reduce MTTR for security incidents. In addition, the case management and machine learning capabilities help security teams save resources and time while enforcing rigor and process to incident response. Demisto helps future-proof security operation centers.