AlgoSec Boasts 95 Percent Growth in 2011

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Firewall Management Vendor Continues Record Growth and Global Expansion

AlgoSec, the market leader for Network Security Policy Management, announced today another record year at the closing of fiscal year 2011, with 95 percent growth in bookings over 2010. AlgoSec’s success is marked by worldwide adoption of the AlgoSec Security Management Suite, used by 13 of the Fortune 50 and 140 of the Forbes 2000 list of global companies, as well as recognition by leading industry organizations for its technical innovations and world-class customer support.

"The firewall management space is growing at an impressive pace, and AlgoSec is proud to far outpace the category's growth rate," said AlgoSec’s Chairman, CEO, and Co-Founder Yuval Baron, "Through intelligent automation of firewall operations, our solutions have proven to help IT better align its network and security teams to not only improve security, but ultimately improve the business."

This sentiment was echoed by Phil Packman, GM Security Gateway Operations for BT, “AlgoSec has allowed us to change the skills profile of the team that we use to do our rule implementation and authorization.” Packman continued, “This is because the tool does the heavy lifting for us. It allows the engineers to focus more on providing greater levels of security than on process and change. So we’re able to provide a much more secure infrastructure for BT.”

Key Company Highlights:

  •     95 percent growth in bookings over fiscal year 2010
  •     7th straight profitable year, with positive cash flow of over $5M in 2011
  •     Addition of more than 170 new customers worldwide, including many Global 2000 organizations who strategically standardized on the AlgoSec Security Management Suite
  •     65 percent increase in headcount , with hires across eight countries
  •     Maintained outstandingly high customer satisfaction scores, including several public testimonials by leading global firms
  •     Second consecutive top 10 ranking on the Deloitte Technology Fast 50 List

Key Product Highlights:

  •     Industry’s first support for firewall management of hypervisor-level firewalls, automating analysis, auditing and change management
  •     Launched the most powerful, enterprise-grade appliance for large-scale networks, capable of automating management of up to 2,000 firewalls
  •     Released AlgoSec Security Management Suite 6.0 which introduced the industry’s first automated policy push capability with ActiveChange™
  •     Continued to set the bar for firewall change management with the richest set of automated workflows

Industry Accolades:

  •     Awarded 5 out of 5 stars in the SC Magazine Policy Management group test review for second consecutive year
  •     Awarded 5 stars by CRN for the AlgoSec Channel Partner Program which offers solution providers the best possible partnering elements for channel success
  •     Named a winner of the 2011 Global Excellence Award for Best Support Program of the Year

“We expect to continue our momentum in 2012 as firewall management will continue to challenge organizations with increased complexity brought on by traditional and newer devices, such as next-generation and hypervisor-level firewalls, underscoring the need for intelligent automation.” continued Baron. “We will be more committed than ever to delivering the best technology, coupled with an uncompromising ‘obsession’ for customer satisfaction.”

About AlgoSec
AlgoSec is the market leader in network security policy management. AlgoSec enables security and operations teams to intelligently automate the policy management of firewalls, routers, VPNs, proxies and related security devices, improving operational efficiency, ensuring compliance and reducing risk. More than 800 of the world’s leading enterprises, MSSPs, auditors and consultancies rely on AlgoSec Security Management Suite for unmatched automation of firewall operations, auditing and compliance, risk analysis and the security change lifecycle. AlgoSec is committed to the success of every single customer, and offers the industry's only money-back guarantee.

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Clinton Karr
LEWIS Pulse for AlgoSec
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