Webroot's Market Momentum Continues with Double-Digit Growth in Fiscal Year 2018
BROOMFIELD, Colo., Sept, 12, 2018 /PRNewswire/ -- Webroot, the Smarter Cybersecurity® company, announced 12 percent annual recurring revenue (ARR) growth for its fiscal year ending on June 30, 2018, marking the company's eighteenth consecutive quarter of double-digit company growth.
Webroot's business segment ARR grew by 25 percent, more than five times International Data Corporation's (IDC) compound annual growth rate of 4.7 percent for IT spending by small- to medium-sized businesses for the 2016-2021 forecast period. Webroot's consumer segment ARR grew 6 percent, 1.5 times higher than the 4.1 percent growth of worldwide security spending in the consumer security software segment, according to Gartner's Forecast: Information Security, Worldwide, 2016-2022, 2Q18 Update report published July 2018 and authored by Sid Deshpande et al., in 2018.
Key Fiscal Year 2018 Highlights:
Webroot Growth
- Webroot ended its fiscal year 2018 with more than 12,800 managed service providers (MSPs), up from 9,400 MSPs at the end of its fiscal year 2017.
- Webroot added 26 new BrightCloud® Threat Intelligence Services technology alliance partners over the last fiscal year, including LogRhythm, Centripetal Networks, Digital Shadows and Zerum, bringing the total to more than 80 worldwide partners.
- Webroot's Board of Directors named technology industry veteran Mike Potts as Chief Executive Officer and a member of the Board, effective September 25, 2017. Potts succeeded Dick Williams, who retired as Webroot's CEO and continues as a member of the company's Board.
Product Innovation in the Year
- Webroot acquired Securecast, a security awareness training platform, and subsequently launched Webroot® Security Awareness Training, which gives managed service providers and businesses a solution to reduce the risks and costs of phishing, ransomware, and other cyber threats with end user education.
- Webroot enhanced its SecureAnywhere® DNS Protection product to allow customizable, granular policy control over internet usage without additional hardware or software. This additional security layer stops 88 percent of web-borne malware before it reaches an organization's network by automatically applying defenses at the network perimeter.
Awards
- The Radicati Group recognized Webroot as a "Trailblazer" in its Endpoint Security Market Quadrant Report, 2017, which analyzed leading endpoint security solutions and ranked Webroot SecureAnywhere® Business Endpoint Protection highly for both strategic vision and the potential to disrupt the market.
- Webroot was awarded the 2018 ESG Channel Acceleration MSP Leadership Award based on the company's commitment to supporting the partner journey toward a deep transformation of the managed services business model.
- ASCII Success Summit recognized Webroot as the Best Channel Program of 2018.
- Webroot was awarded MRG Effitas' Online Banking/Browser Security Award, which evaluates the reliability and efficiency of solutions to protect financial services companies. Webroot's SecureAnywhere® was one of only three solutions to receive this honor.
Key Quote:
Mike Potts, CEO, Webroot
"Webroot continues to achieve record growth because we deliver what the market needs—advanced, reliable cybersecurity protection that is easy to deploy and use. Small- to medium-sized companies are struggling with the ever-changing threat landscape, and in 2018 we added two new solutions—DNS Protection and Security Awareness Training—to provide essential layers of defense. Today we are number one with the top 500 MSPs. At the same time, we've leap-frogged ahead of the competition with our threat intelligence offerings, which strengthen all our solutions with advanced machine learning. The last 18 quarters of consecutive double-digit growth is a testament to the value we deliver to customers."
About Webroot
Webroot was the first to harness the cloud and artificial intelligence to protect businesses and individuals against cyber threats. We provide the number one security solution for managed service providers and small businesses, who rely on Webroot for endpoint protection, network protection, and security awareness training. Webroot BrightCloud® Threat Intelligence Services are used by market leading companies like Cisco, F5 Networks, Citrix, Aruba, Palo Alto Networks, A10 Networks, and more. Leveraging the power of machine learning to protect millions of businesses and individuals, Webroot secures the connected world. Headquartered in Colorado, Webroot operates globally across North America, Europe, and Asia. Discover Smarter Cybersecurity® solutions at webroot.com.
SOURCE Webroot
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