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ObserveIT Announces Several Deals over $1 Million with Fortune 500 Brands; Names Industry Veteran Dave DeWalt as Vice Chairman of the Board

September 18, 2018

BOSTON--(BUSINESS WIRE)--Sep 18, 2018--ObserveIT, the leading insider threat management provider with more than 1,800 customers around the world, today announced continued success as global organizations seek to mitigate the risk posed by insiders. Recent momentum includes several significant Fortune 500 deals and the appointment of NightDragon Security Founder Dave DeWalt as vice chairman of the board of directors.

“The risk posed by insiders, whether accidental or malicious, is an area of continued concern for global enterprises today,” said Mike McKee, CEO, ObserveIT. “Our recent momentum is a testament to our dedicated focus on delivering best-in-class insider threat management solutions that meet the needs of today’s global brands, and exemplifies the trust that our customers have in our ability to protect their most valuable assets.”

To date in Q3 2018, ObserveIT has closed four deals over $1 million with major brands including a leading global Fortune 50 financial services firm, one of the world’s largest hedge fund companies, and a Fortune 500 global technology innovator for the government and commercial sectors. This success demonstrates ObserveIT’s ability not only to scale to large deployments, but also to dramatically reduce insider threats and data loss for Fortune 500 companies.

“ObserveIT provides a powerful and holistic solution to one of the most persistent security challenges organizations face today – insider threats,” said Suping Dong, CEO of Bowmicro, one of the organizations investing more than $1 million in ObserveIT’s solution. “The ability to quickly identify and eliminate these risks is critical for our customers.”

In his role as vice chairman of ObserveIT’s board, veteran CEO, advisor and investor DeWalt will work with a board filled with accomplished cybersecurity executives with demonstrated product, innovation and technology leadership.

“Insider threats are one of the most pressing issues facing organizations today – threatening not only financial impact and the loss of sensitive data, but reputational damage as well – and ObserveIT is tackling these challenges head on,” said DeWalt. “I am proud to take on this new role as vice chairman of the board and look forward to the company’s continued innovation.”

ObserveIT identifies and eliminates insider threats with real-time detection, deterrence, education, discretionary prevention and precise visibility into all user actions with its industry-leading analytics, rich metadata and video playback capabilities. This insight reduces security incidents and speeds investigations to just minutes.

To learn more about ObserveIT’s Insider Threat Management solution and how it helps companies detect anomalous behavior, expedite investigations and prevent data loss, 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/20180918005124/en/

CONTACT: ObserveIT Media Contact:

Ariel Novak, 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: 09/18/2018 09:00 AM/DISC: 09/18/2018 09:01 AM

http://www.businesswire.com/news/home/20180918005124/en

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