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ObserveIT Brings Powerful New Insider Threat Detection Features to Market; Achieves Record Growth in Q3

October 3, 2018

BOSTON--(BUSINESS WIRE)--Oct 3, 2018--ObserveIT, the leading insider threat management provider with more than 1,800 customers around the world, today announced significant growth and product innovation, reflecting increasing global demand for ObserveIT’s insider threat management solution. The company unveiled the latest version of its solution, ObserveIT 7.6, and experienced the largest bookings quarter in the company’s history, with a 80% increase in bookings over the last 15 months, several sizable customer wins and industry accolades.

Milestones achieved during Q3 include a $33 million Series B funding round, four deals over $1 million with Fortune 500 brands, and the appointment of NightDragon Security Founder Dave DeWalt as vice chairman of the board of directors.

ObserveIT 7.6 includes the addition of FAM (File Activity Monitoring), a unique solution for data exfiltration detection and prevention. FAM detects potentially suspicious data exfiltration attempts by providing full visibility into any file sent via web, email, social media and cloud storage with a single lightweight user mode agent. Further, FAM provides complete context of user interactions with files such as rename, copy, delete and move from start to finish. Other notable new features within ObserveIT 7.6 include an enhanced timeline view of all user and file activity across all platforms such as Windows, Mac, Linux and virtualized environments such as Citrix to decrease time to investigate security incidents. This release enhances ObserveIT’s reporting and anonymization capabilities to comply with GDPR compliance.

ObserveIT also received notable industry recognition in the third quarter, validating its position as the leader in insider threat management. For example, the company was recognized as a Security Solution Provider of the Year by the CyberSecurity Breakthrough Awards, and was also selected for two Cyber Defense 2018 Global Awards in the “Cutting Edge Insider Threat Detection” and “Best Product Insider Threat Prevention” categories. ObserveIT was also named one of the top six Boston-based cybersecurity companies within the “50 on Fire” list by BostInno.

ObserveIT was recognized in Forrester’s July 2018 Defend Your Data as Insiders Monetize Their Access report as an example of an endpoint monitoring tool and was evaluated by KuppingerCole for an in-depth breakdown of its insider threat solution.

Additional milestones achieved by ObserveIT in Q3 2018 include:

Completed the largest bookings quarter in company history, with an 80% increase in bookings over the last 15 months Surpassed 1,800 customers, including the addition of: A top five global financial services companyA top global hedge fundA top global defense contracting company Achieved record growth in ObserveIT subscription bookings, with a 450% increase in year-over-year subscription deal growth

“The addition of File Activity Monitoring to ObserveIT 7.6 allows security teams across the globe to easily detect and prevent data exfiltration attempts, providing yet another layer of protection to our holistic insider threat management solution,” said ObserveIT CEO Mike McKee. “We’re thrilled to close out another quarter with a growing customer roster, cutting-edge product updates and industry validation that confirms our unmatched, one-of-a-kind service and position as the insider threat management solution of choice for major brands across the globe.”

To learn more about the latest version of ObserveIT’s Insider Threat Management solution and how it helps companies detect anomalous behavior, expedite investigations and prevent data loss, visit here. For a free trial of ObserveIT 7.6, visit here.

About ObserveIT ObserveIT is the leading Insider Threat Management solution with more than 1,800 customers across 87 countries. ObserveIT is the only solution that empowers security teams to detect insider threats, streamline the investigation process, and prevent data exfiltration. With 300+ out-of-the-box insider threat indicators of compromise, rich metadata and outstanding search capability and playback of any policy violation, ObserveIT provides comprehensive visibility into what people – contractors, privileged users and high-risk users – are doing, and reduces investigation time from days to minutes. For more information visit:  www.observeit.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181003005232/en/

CONTACT: ObserveIT Media Contact:

Erin Nordloh, 617-502-4370

ObserveIT@pancomm.com

KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT NETWORKS SOFTWARE SECURITY

SOURCE: ObserveIT

Copyright Business Wire 2018.

PUB: 10/03/2018 09:00 AM/DISC: 10/03/2018 09:01 AM

http://www.businesswire.com/news/home/20181003005232/en

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