Index Engines Reports Substantial Revenue Growth in 5 Key Industries Targeted by Ransomware in 2023

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Feb 05, 2024, 09:00 ET

Index Engines' CyberSense^® software, used by over 50 different industries to ensure data integrity and recoverability, saw a staggering 70% growth in Telecom revenue

HOLMDEL, N.J., Feb. 5, 2024 /PRNewswire/ -- Cybersecurity company Index Engines reports a sharp increase in adoption of its leading CyberSense^® software during 2023 in several sectors highly targeted by ransomware.

CyberSense uses AI-powered machine learning to recognize patterns of data change in backups and snapshots to confirm its integrity and detect malicious changes that are indicative of a ransomware attack.

With ransomware up more than 95% in 2023, organizations turn to CyberSense to ensure data resiliency against cyber threats, enable businesses to uphold operational reliability and mitigate the risk of downtime resulting from ransomware attacks.

Telecom has been hit especially hard by ransomware in recent years, driving rapid adoption of cybersecurity solutions by the industry, resulting in 70% gains for Index Engines.

Growth in the Insurance and Finance sectors for CyberSense was a 56% increase in revenues from 2022 to 2023. IT Services saw a 50% increase, the Federal and State Government sectors grew 41%, and the Energy sector increased 38% year-over-year in the last calendar year.

"School districts, healthcare and financial services have been leading the adoption of CyberSense for years, but as cyber criminals cash in and disable critical infrastructure, we've seen more industries turn to us for ransomware protection and recovery," said Jim McGann, vice president of strategic partnerships at Index Engines.

CyberSense is currently trusted by thousands of organizations across over 50 industries worldwide.

Data integrity is the ability to guarantee that data is untampered, uncompromised, and safe to recover from, usually achieved through content-aware file scanning. In a cyber-resilience context, data integrity is what allows organizations to identify the last good copies of files and enable rapid, curated recovery, according to IDC Analyst Brief, "Ensuring Data Integrity Is Crucial for a Solid Cyber-Resilience Strategy" (doc #US51543523, December 2023).

"Knowing whether data has been tampered with, what data has been corrupted, and when that corruption happened are integral to rapid, curated recovery from cyberattacks," said Johnny Yu, Research Manager, Infrastructure Software Platforms, IDC.

Index Engines also had its own growth in 2023, including:

Appointments: 2023 was also a year of key appointments for Index Engines with the company naming Geoff Barrall Chief Product Officer, Tony Craythorne as Chief Revenue Officer (CRO) and Brian Householder to the company's advisory board. Barrall was previously Vice President and Chief Technology Officer at Hitachi Vantara. Craythorne was previously CRO of Zadara and before that CEO of Bamboo Systems. Householder led the transformation of Hitachi Data Systems into Hitachi Vantara, as the company's CEO.
Product: Index Engines released the latest version of its flagship CyberSense solution. CyberSense brought to market a new user interface with deep details into every ransomware attack, a new, easy to use setup wizard and system configuration interface.

"We set out to scale up all aspects of Index Engines in 2023," said Tim Williams, CEO, Index Engines. "Our progress in expanding the CyberSense global install base was ahead of our guidance for the past year. As we look at the expanding marketplace of ransomware and bad actors becoming more advanced in their use of tools including AI to wreak havoc, Index Engines will continue to provide solutions and technology to keep malware at bay. 2023 was a year of increased cyber threats, yet it was also a year of better surveillance, and we look forward to further success in combating those holding enterprises hostage in 2024."

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