Rapid7 Announces Record Quarter and Promotion of New CEO
Rapid7, a leading provider of IT security risk management software, today announced its fourteenth consecutive quarter of record revenue, with third quarter revenue growth of 75% over the same period last year. The Company continued its global expansion with the opening of its new EMEA headquarters and key staff appointments in the Netherlands.
Rapid7 also added to its impressive customer portfolio, including the addition of Realogy Holdings Corp. (NYSE: RLGY), the parent company of Better Homes and Gardens Real Estate, CENTURY 21 and Coldwell Banker, among other prominent real estate services. Additionally, Rapid7 secured deals with Maine Medical Center, ranked as the number one hospital in Maine by the US News & World Report; and the Oriental Trading Company, one of the top internet retailers, selling wholesale and value-priced gifts for over 80 years.
During the third quarter, Rapid7 also held the second annual UNITED Security Summit, a unique gathering that facilitates collaboration, learning and innovation in the security industry. The conference, with more than 250 attendees, featured debates with industry luminaries Joshua Corman, Dave Kennedy, Joe Menn and HD Moore and in-depth sessions with speakers from 451 Research, Forrester, Twitter, Liberty Mutual, and Microsoft as well as a thought-provoking keynote on decision making from two-time best-selling author, Dan Heath.
Corey Thomas Appointed CEO
As part of Rapid7's vision for ongoing growth and development, Corey Thomas has been promoted to President and CEO. Corey joined the Company, which is backed by Bain Capital and Technology Crossover Ventures, in 2008 and served most recently as the Company's president and COO. He has played a decisive and influential role in the Company's success contributing to a 900% increase in revenue during his tenure, recognized by Inc. 500.
In 2009, Corey led the acquisition of Metasploit, the leading open source penetration testing solution, which has become a key part of Rapid7's innovative IT security risk management suite. More recently, Corey has driven international expansion, opening offices in Australia, Hong Kong and the Netherlands. During this time, former CEO Mike Tuchen has worked closely with Corey to groom him to take the helm of Rapid7 leadership.
"Rapid7 has experienced incredible growth to date and I'm honored to be leading our fantastic team into the next phase of opportunity," said Corey Thomas, President and CEO of Rapid7. “Our team's focus is on delivering an exceptional customer experience, and simple, innovative solutions that help organizations address the complex security challenges they face daily.”
Corey takes over from Mike Tuchen, who has led Rapid7 since 2009. During this time, Mike has driven the company to a market-leading position, including securing multiple top rankings from industry analyst houses, Gartner and Forrester. The corporate culture that he has created for Rapid7 has seen the Company named a “Best Place to Work” several times. Mike will continue to act as an advisor to the Company.
"I'm thrilled to have had an opportunity to work with Corey and the team at Rapid7, and am looking forward to our ongoing relationship. We've built a phenomenal team together and earned a leadership position in the market with a bright future of continued growth and success," said Mike Tuchen. “Corey is a remarkable leader who has grown tremendously in the 9 years that we've worked together across two companies, and I'm looking forward to seeing him drive the next stage of the Company's evolution, and the innovation and market leadership that will come from it.”
Rapid7 is a leading provider of IT security risk management software. Its integrated vulnerability management and penetration testing products, Nexpose and Metasploit, and mobile risk management solution, Mobilisafe, enable defenders to gain contextual visibility and manage the risk associated with the IT environment, users and threats relevant to their organization. Rapid7's simple and innovative solutions are used by more than 2,000 enterprises and government agencies in more than 65 countries, while the Company's free products are downloaded more than one million times per year and enhanced by more than 175,000 members of its open source security community. Rapid7 has been recognized as one of the fastest growing security companies by Inc. Magazine and as a "Top Place to Work" by the Boston Globe. Its products are top rated by Gartner®, Forrester® and SC Magazine. The Company is backed by Bain Capital and Technology Crossover Ventures. For more information about Rapid7, please visit http://www.rapid7.com.
About Corey Thomas
Corey Thomas is the CEO and President of Rapid7, focusing on leading the Company into the next stage of its growth and innovation. His 12 years of experience growing technology businesses includes leading consumer sales, marketing and business development as vice president at Parallels, a global leader in virtualization and automation solutions. Corey also held a number of leadership positions in the Microsoft Server and Tools division, launching the worldwide availability of SQL Server 2005 and steering product planning for Microsoft's data platform and storage strategy. Prior to that, he was a Consultant at Deloitte Consulting. Corey holds a B.E. in Electrical Engineering and Computer Science from Vanderbilt University (magna cum laude) and a Masters of Business Administration from Harvard Business School (Baker Scholar).
Kelly Kane, 617-779-1866