EiQ Networks Posts Seventh-Consecutive Record Quarter with 270 Percent Hybrid SaaS Security Growth

BOSTON--(BUSINESS WIRE)--

EiQ Networks, a pioneer in hybrid SaaS security offerings and continuous security intelligence solutions, today announced a 270 percent year-over-year increase in SaaS sales at the close of the third quarter of 2015. In addition, EiQ's SOCVue customer base grew 150 percent over Q3 2014, representing the company's seventh-consecutive quarter of record growth.

With outstanding product innovation, employee expansion, and strategic investments, EiQ continues to help small-to-mid-sized organizations (those with fewer than 5,000 employees) with proactive detection of threats and policy violations, and timely remediation guidance at a fraction of the cost of doing it themselves.

Third quarter 2015 highlights include:

• The company has achieved its goal of creating 25 new positions in Boston, and is on track to exceed that goal by more than 20 percent in 2015.
• The company announced a strategic partnership with Qualys, Inc. QLYS, a pioneer and leading provider of cloud-based security and compliance solutions. Under the agreement, EiQ will integrate Qualys Vulnerability Management (VM) into its hybrid SaaS SOCVue security offering.
• EiQ opened a Security Operations Center (SOC) in Vancouver, Canada, to support the rapid growth of its hybrid SaaS security customer base in North America.
• Technology industry veteran Kim Ann King joined EiQ Networks as Vice President of Marketing. In this role, King is focused on EiQ's global marketing efforts, including brand awareness, demand generation, and organizational enablement.

"With the continuously evolving threat landscape, our hybrid SaaS security offerings for sub-5,000 employee organizations are helping to improve our customers' overall security posture," said Vijay Basani, Chairman, President, and CEO of EiQ Networks. "In fact, SOCVue is the only SaaS security offering that combines people, process, and technology to deliver an effective information security program, including proactive security controls auditing, managed SIEM and log management, compliance reporting, and remediation guidance. Because of the depth and breadth of our services, our customers have more visibility into their security and peace of mind."

About EiQ Networks

EiQ Networks, a pioneer in hybrid SaaS security and continuous security intelligence solutions and services, is transforming how organizations identify threats, mitigate risks, and enable compliance. EiQ offers SOCVue, a security hybrid SaaS offering, and provides 24x7 security operations to small-to-medium-sized organizations that need to protect themselves against cyber attacks but lack resources or on-staff expertise to implement an effective security program. The company also offers SecureVue®, a continuous security intelligence platform that helps organizations proactively detect incidents, implement security best practices, and receive timely and actionable intelligence along with remediation guidance. For more information, visit: http://www.eiqnetworks.com.

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