Corelight Achieves 300% Year-over-Year Growth in AI and SaaS-driven NDR Revenue

News provided by

Apr 23, 2024, 09:00 ET

Growth driven by customer demand for expanded detection coverage and visibility across hybrid and multi cloud environments

SAN FRANCISCO, April 23, 2024 /PRNewswire/ -- Corelight, the leader in open network detection and response (NDR), today announced it has achieved more than 40% year-over-year growth in annual recurring revenue and over 300% year-over-year growth in its AI and SaaS-driven NDR solutions for its most recent fiscal year ending January 31st, 2024.

Corelight's growth has been driven by innovation in cloud, expansions in detection coverage, and innovative use of LLM's to accelerate security workflows. The company has seen strong customer demand for its Open NDR Platform in AWS, Azure, and GCP environments based on Corelight's unique ability to combine alerts with network evidence across hybrid and multi-cloud environments. Corelight's most recent cloud sensor product releases now include detections for data exfiltration and C2 traffic in AWS, enriching network analytics with cloud service information, and deeper visibility for encrypted traffic - which accounts for the majority of cloud traffic today.

Corelight's cloud capabilities allow customers to extend visibility with uniform telemetry across multi-cloud environments, identify stealthy cloud attacks masquerading as legitimate traffic with custom detections, accelerate incident response with rich evidence, and fill coverage gaps that remain after deploying tools like native security services and CSPM.

"As cloud attack surfaces expand, security teams are compelled to comply with new cloud security guidelines, such as those recently published by CISA and the NSA," explained Vijit Nair, VP of Product at Corelight. "At Corelight, we are dedicated to proactively assisting our clients in staying at the forefront of cloud security."

In addition to strong demand for cloud solutions, Corelight has seen an uptick in customers looking to close gaps in detection coverage. The company offers a full-range of advanced machine learning models in addition to behavioral, signature, threat intel, and query capabilities giving customers comprehensive coverage across the MITRE ATT&CK framework.

"Most NDR solutions on the market have opaque detection. These solutions are 'black boxes' and it is very difficult to have a sufficiently clean detection baseline so as not to be overwhelmed by alerts," said David Charpagne, SOC Manager at Carrefour, the seventh-largest retailer in the world. "Corelight allows us to be masters of our detection, to deploy our use cases by iteration and to control them using the capabilities of our SIEM for detection. Costs are controlled and we make the most of our security tools."

Finally, customers looking to leverage fully vetted engineering prompts are taking advantage of Corelight's previously announced analyst workflow integration for large language models (LLM). Part of Corelight's Open NDR Platform, Generative AI assist gives SOC analysts the context and explainability they need to easily understand complex detection patterns and pursue feasible actions, while mitigating risks inherent in adopting LLM technology.

"Organizations around the world face acute cybersecurity workforce shortages and skill gaps and LLM technology holds a real potential to help security teams meaningfully address these challenges through workflow acceleration," said Jon Oltsik, Analyst Emeritus at the Enterprise Strategy Group. "Corelight's LLM capability has the potential to help force-multiply resource constrained SOCs and quickly uplevel junior analysts by generating clear and direct alert explanations and investigative guidance."

To learn more about Corelight's Open NDR Platform, please visit: https://corelight.com/solutions/why-open-ndr

About Corelight

Corelight transforms network and cloud activity into evidence that security teams use to proactively hunt for threats, accelerate response to incidents, gain complete network visibility and create powerful analytics. Corelight's global customers include Fortune 500 companies, major government agencies, and large universities. Based in San Francisco, Corelight is an open-core security company founded by the creators of Zeek®, the widely-used network security technology. For more information, visit https://corelight.com or follow @corelight_inc.

Corelight is continuing to invest in hiring diverse talent across all levels of the business around the globe. More information on job openings can be found on the Corelight careers page.

SOURCE Corelight, Inc.