CREDANT Declares Outstanding Start to 2010
Revenue grew 49% over the same period last year, driven by new partnerships with Dell, LANDesk, and Cisco Systems; customers renew maintenance in record-breaking numbers; and Credant now offers the most comprehensive product portfolio in the industry
Financial highlights for the first half of 2010 include:
- 49% increased revenue against the first half of 2009
- 89% of its Q2 software license revenue is derived from new customers
- Solid pipeline of new opportunities for second half of 2010
- 60% month over month growth in new partnerdriven sales pipeline
- >95% Customer renewals
Bob Heard, CREDANT's Founder and CEO, said: "Despite continued economic uncertainty we are truly delighted to be announcing such strong YTD growth and financial results, and it confirms our faith and optimism that our customers see solid business value in our team's specialized expertise and our portfolio of products. We wouldn't be able to achieve these results without the tireless efforts and strong commitment of our team and the strength of our industry partners, whose sales momentum is growing strongly month over month. It's their continued diligence to deliver excellence to our clients that ensures data protected by CREDANT remains secure. However, it's not a time to be complacent. The headlines are continuously full of stories of data breaches and while these are still happening, our work isn't done. We will continue to expand our partnerships and our product portfolio to protect corporate data on new devices coming onto the market and make sure the world understands the risks that lapsed- security poses to sensitive corporate data."
There were a number of important milestones for CREDANT during the first half of 2010:
Extended product portfolio:
CREDANT extended its product portfolio during this period, allowing its customers the flexibility to protect data wherever it is, however they want, in whatever manner meets their unique endpoint security needs, varied as they may be - all centrally managed to offer enterprise level auditing and reporting capabilities essential to businesses today.
In April it announced the addition of CREDANT FDE DriveManager to its portfolio - offering a management platform for self encrypting HDD's such as the Seagate Momentus(TM) product line. Also in April, it launched CREDANT FDE for Windows - a highly scalable centralised software based full disk encryption solution for PCs, laptops, notebooks and tablets that are easily deployed to provide unparalleled protection for data at rest.
During the period, CREDANT also made significant enhancements to its product portfolio, specifically in the areas of protecting data on Mac OS X systems, and on External Media such as USB Thumb Drives, offering a uniquely comprehensive solution for centrally managing and tracking the encryption of data on all those devices from a single console.
Last month CREDANT announced it had joined the Cisco Developer Network as a Registered Developer within the data security technology category. In addition, CREDANT's Mobile Guardian, Enterprise Edition software successfully completed interoperability testing for data security within the Cisco Secure Borderless Networks system.
In March, LANDesk began to offer CREDANT Mobile Guardian as part of their portfolio, adding Data Protection to their comprehensive and market leading suite of Security, Systems and PC Lifecycle Management solutions. And as of February, Dell customers have had the option to license the CREDANT Mobile Guardian, Dell Edition security encryption solution, factory installed on Dell Latitude(TM) laptops, Precision(TM) workstations and OptiPlex(TM) desktops - along with other CREDANT solutions through Dell's Software and Peripheral (S&P) store.
About CREDANT Technologies
CREDANT Technologies is the market leader in endpoint data protection solutions. CREDANT's data security solutions mitigate risk, preserve customer brand, and reduce the cost of compliance, enabling business to "protect what matters." CREDANT Mobile Guardian is the only centrally managed endpoint data protection solution providing strong authentication, intelligent encryption, usage controls, and key management for data recovery. By aligning security to the type of user, device, and location, CREDANT permits the audit and enforcement of security policies across all computing endpoints. Strategic partners and customers include leaders in finance, government, healthcare, manufacturing, retail, technology, and services. CREDANT has been recognized by Inc. magazine as the #1 fastest growing security software company in 2008 and 2007; was selected by Red Herring as one of the top 100 privately held companies and top 100 Innovators; and was named Ernst & Young Entrepreneur of the Year 2005. Austin Ventures, Menlo Ventures, Crescendo Ventures, Intel Capital (NASDAQ:INTC), and Cisco Systems (NASDAQ:CSCO) are investors in CREDANT Technologies. For more information, visit http://www.credant.com