Market Overview

Wallarm Reports Record Customer Acquisition and Revenue Growth


Wallarm nearly doubles the number of customers in the past year, shows record revenue growth.

SAN FRANCISCO (PRWEB) April 11, 2018

Wallarm, AI-powered application security platform, today shares data on its record performance in 2017 and the first quarter of 2018. Wallarm revenue growth and new customer accounts came from E-commerce, FinTech, Logistics and other industries. Company's ongoing technology and product innovation and development of strategic partnerships are a good foundation for accelerated future growth.

Significant milestones include:

New Client Acquisition and Revenue Growth:
Wallarm has experienced the greatest increase in the number of new customer accounts in its history nearly doubling the number of production customers in the past year and on-boarding Fortune 500 accounts.
Wallarm has also achieved record revenue growth with most recent monthly recurring revenue for the month of March growing 100% year over year. New business comes from verticals such as FinTech, E-commerce, IoT, Core HR, Logistics, Healthcare and others with new logo accounts including a Fortune 500 e-commerce brand, WorkForce software in HR management, Vuclip in IoT, SEMrush in SaaS services and more. In addition, the company expanded its footprint within existing clients with most of the customers renewing their subscriptions and procuring additional licenses as their environment grows.

New Product Introduction:
During this period Wallarm has introduced a number of new products and services:

Wallarm Node Plus - a product that combines Wallarm Cloud and Wallarm NGINX-certified module with NGINX Plus and delivers a full set of attack mitigation and application security testing features combined with the ADN functionality delivered by NGINX Plus.

Wallarm Threat Intelligence - a subscription service for security service providers to periodically receive the set of security rules generated by the Wallarm Cloud AI to be used with their existing WAFs.

Wallarm ICO Verify - a subscription service to provide security audit and attack mitigation to companies issuing cryptocurrency-based coins.

Technology Partnerships and Awards:
In November, Wallarm announced that the company joined AWS Partner Network. Wallarm is also available on GoogIe Cloud Platform and as a module on Kong. These partnerships further simplify the deployment process for many Wallarm customers who choose to run their applications and APIs on public clouds.

"Wallarm implementation was one of many steps to migrate our application, iMedNet, to AWS. Ensuring the ability to monitor and secure our web-based application and to meet HIPAA guidelines for PHI compliance were important in the decision to go with Wallarm.", said Gary Johnson, Infrastructure Architect, MedNetStudy.

In January, Wallarm has joined the exclusive Nvidia Inception program, designed to nurture startups revolutionizing industries with advancements in AI and data sciences Also, Wallarm's technology, already a recipient of numerous innovation awards, was named a finalist in the prestigious Innovate.AI competition.

People and Culture:
Wallarm has significantly expanded its go-to-market team adding two security industry veterans, Johan Norstrom as a Chief Business Development officer and Renata Budko as a Chief Marketing Officer. Johan brings 25 years of sales leadership experience from companies like Imperva and Arbor Networks. Renata is a seasoned executive with the product and marketing track record in security space since 2006, most notably as a co-founder and VP of Marketing of HyTrust. The changes are designed to continue the fast growth in customer acquisition, to build brand awareness and to develop strategic partnerships. The team is further strengthened by Richard Seirense, CISO of Landing Club and Randy Bias, VP of Technology and Strategy at Juniper Networks joining the board of advisors.

"We've achieved remarkable success this past year," said Wallarm CEO Ivan Novikov. "However, what we are really looking forward to is fully leveraging our machine learning core technology to make security accessible to every developer and to fill the gap between R&D, Security and DevOps".

About Wallarm
Wallarm is an innovative AI startup focused on the security of websites, microservices and APIs running on public and private clouds. Wallarm security platform automates application protection and security testing. Hundreds of enterprises and SaaS companies already rely on Wallarm for protection. The Wallarm AI engine generates application-specific WAF rules and vulnerability security tests, which enables Wallarm to provide dynamic, active and focused security.
Wallarm is a privately held company founded in 2013, headquartered in So. San Francisco, California and backed by Y-combinator, Partech Ventures, and other investors.

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