July 24, 2017
Explosive global demand fuels over 50 percent billings growth
Tenable Network Security®, Inc., the Cyber Exposure company, today announced record second quarter results with over $50 million in billings, which represents over 50 percent growth year-over-year. Tenable’s record results make it one of the world’s largest and fastest-growing private cybersecurity companies and reflect the company’s proven leadership and innovation in helping organizations of all sizes rethink how they manage, measure and reduce Cyber Exposure across the modern attack surface.
Company highlights for the second quarter and first half of 2017 include:
- Achieved over 50 percent year-over-year billings growth for both the second quarter and for the first half of 2017, with strong performance across North America, Europe and Asia-Pacific
- Delivered fifth consecutive quarter of 45 percent billings growth or higher
- Added more than 1,000 new customers during the second quarter across a variety of industries, surpassing more than 23,000 customers globally in over 150 countries
- Added more than 100 new enterprise customers such as FedEx, VMware and Westlake Chemical. Tenable™ customers include over 50 percent of the Fortune 500, 10 of the top 10 largest U.S. technology companies and eight of the top 10 largest U.S. financial institutions
- Successfully migrated from a perpetual license model to a subscription license model, increasing the percentage of recurring revenue over a two year period to 90 percent in the first half of 2017
- Opened the company’s international headquarters office in Dublin, Ireland, broadening its total global footprint with offices in 20 countries
- Released Tenable.io™, the first Cyber Exposure platform to provide visibility into any asset on any computing platform, including purpose-built applications for Vulnerability Management, Container Security and Web Application Scanning
- Expanded the already vibrant Nessus® community, reaching over 1.6 million downloads globally
“Tenable isn’t just changing the game, we’re rewriting the rules for how companies manage and measure the Cyber Exposure of their modern attack surface,” said Amit Yoran, CEO, Tenable. “We defined the vulnerability management market and built a global juggernaut as the creator of Nessus. Now we’re expanding on our heritage and moving the market beyond the old world of client/server and on-premise, where scanning a network and generating spreadsheets of raw vulnerability data was the only option. We are using our deep expertise into assets, networks and vulnerabilities to provide CISOs and the business with the right level of visibility, focus and insight to prevent issues and factor Cyber Exposure into every strategic business decision.”
Organizations of all sizes are embracing digital transformation, resulting in an explosion of new platforms, devices and approaches including cloud, SaaS, mobile, IoT and DevOps. According to BI Intelligence, there will be over nine billion Internet of Things (IoT) devices residing on enterprise wireless networks by 2019, more than the entire smartphone and tablet markets combined. The modern cyber attack surface is no longer just a laptop or server, but is now a complex mix of connected devices, services and computing platforms which is constantly expanding and contracting like a living organism. The failure of old tools and one-size-fits-all approaches to scanning the network for vulnerabilities which were designed for the old world of traditional IT means that most organizations can’t keep pace with modern assets, creating a massive gap in an organization’s ability to understand and accurately represent its Cyber Exposure at any given time.
Tenable is reimagining how organizations address this problem as the pioneer of Cyber Exposure, an emerging discipline for managing and measuring the modern attack surface to accurately understand and reduce cyber risk. Built on the roots of Vulnerability Management designed for traditional IT, Cyber Exposure transforms cybersecurity from identifying bugs and misconfigurations and expanding it to live discovery into every asset in any environment. Cyber Exposure also delivers continuous visibility into where assets are secure versus exposed, and to what extent, and prioritizes remediation based on the asset’s business criticality and the severity of the exposure. The adoption of Cyber Exposure will ultimately empower organizations to translate raw security data into a metrics-driven program where every business decision factors in Cyber Exposure in the same way as other business risks.
In the first half of the year, Tenable released a number of innovative solutions in rapid succession. These include Tenable.io, the world’s first Cyber Exposure platform to provide visibility into any asset on any computing platform; Tenable.io Container Security to seamlessly enable DevOps processes by providing visibility into the security of container images as they are created; and Tenable.io Web Application Scanning to safely and automatically scan web applications to identify vulnerabilities. The company will continue to innovate with new solutions every quarter to realize its vision for Cyber Exposure.
To learn more, visit Tenable at Black Hat USA 2017 in Las Vegas (booth 608), at RSA Conference 2017 Asia Pacific & Japan in Singapore (booth G9) or visit https://www.tenable.com/cyber-exposure.