SecurityScorecard Accelerates On Path to Becoming Gold Standard With High Worldwide Customer Growth & Massive Network Effects
NEW YORK, Nov. 11, 2020 /PRNewswire/ -- SecurityScorecard, the global leader in cybersecurity ratings, announced today a record-breaking 2020 with 112% YoY growth for total international customers and international recurring revenue growing by 75% YoY.
“SecurityScorecard is becoming the gold standard for every company in the world to measure and communicate cybersecurity risk and improve cyber-resilience,” said Aleksandr Yampolskiy, CEO and co-founder of SecurityScorecard. “With the rise of digitization, movement to the cloud, and regulatory focus on third-party monitoring, SecurityScorecard ratings are on an inevitable path to ubiquity.”
SecurityScorecard Becoming a Must-Have
- Over 1.5 million companies are monitored and rated by SecurityScorecard daily. The company built a market-leading architecture positioned to support broad-scale ubiquitous distribution of its ratings and is on track to rate more than 20 million organizations by the end of 2021. That means having 7+ years historical data set and interesting and unique insights readily available
- The SecurityScorecard platform has over 13,000 engaged companies and counting, with adoption continuously accelerating. Every customer invites on average 7 other organizations to join and contribute data to the SecurityScorecard network
- Alliances and Channel Growth: Total revenue as a result of opportunities from the company’s partners was 83% higher in Q3 2020 compared to Q3 2019. Highlights include:
- Partnered with ISACs (information sharing and analysis centers), across many industries including retail, healthcare, airline, automotive, national defense and more. These associations offer SecurityScorecard’s platform to their members to improve their cyber resiliency.
- Insurance providers form another important pillar for ubiquitous distribution; companies like AXA, AIG and Tokio Marine offer SecurityScorecard to their insured companies as a benefit to help stay cyber resilient, driving overall widespread adoption of SecurityScorecard
- SecurityScorecard is also working with several highly influential international players in the telecom and managed security service space, including GM SecTec, IHS Markit and Tomorrow Street -- a joint venture between Vodafone and the government of Luxembourg -- to accelerate the company’s growth outside of North America, offering best-in-class security ratings to millions of new business customers
With a strong network effect and a primed go-to-market engine, SecurityScorecard boasts a massive opportunity to go further down market by leveraging the deep reach of these alliance partnerships and to further penetrate new markets and deliver more customer value.
- Significant customer growth, with over 300 new logos added in 2020 year-to-date, including Cisco, Scotiabank, and General Dynamics, putting total customers over 1,000 worldwide
- Over 700,000 Scorecards are monitored by engaged users, a 273% increase over the past 18 months
- SecurityScorecard customers currently span across the globe. As of Q3-2020, total international recurring revenue grew 75% YoY and total international customers grew 112% YoY
- Current customers include 8 of the top 10 pharmaceutical companies, 4 of the top payment processors and more than 10 of the top insurance companies
Commitment to Innovation and Customer Service
- The only security ratings company committed to transparency by publicly sharing its scoring methodology and publishing accuracy KPIs on SecurityScorecard’s Trust Portal
- Any company can claim their own scorecard for free and unlike competitors, SecurityScorecard does not charge for remediation. SecurityScorecard has a deep commitment to remediation, which helps companies stay secure, avoid a breach and minimize the likelihood of a ransomware demand. On average, companies invited onto the SecurityScorecard platform improve their score by 8 points
- SecurityScorecard gathers over 27 billion vulnerabilities per week and runs one of the largest malware sinkhole networks in the world, capturing over 500 million infected machines in different organizations each day
- In 2020, SecurityScorecard delivered over 50 core product capabilities, including workflow automation with Rule Builder alerts and triggers, machine learning tuned risk factors to make scores a more accurate predictor of breach or incident likelihood and customizable questionnaires that leverage objective security ratings data to validate responses
- 93% of customers recommend SecurityScorecard with a 4.6 out of 5 stars, according to Gartner Peer Insights, validating the commitment to customer service
- Customers have rated SecurityScorecard a 4.5 out of 5 stars on G2 with a rating of 9.7 out of 10 for quality of support, 9.4 for ease of setup and 9.3 for ease of use
Awards and New Leaders
- Recognized as ’2020 Technology Pioneer’ by the World Economic Forum for contributions to the cybersecurity industry
- Awarded multiple accolades including: ‘Best Security Company of the Year’ (over 150 staff) by American Cyber Awards; Top 100 Cybersecurity Startups of the Year by Cyber Defense Magazine; Crain’s ’2020 Best Places to Work in NYC’; Inc.com’s ‘Best Workplaces in 2020’; and ‘Great Place to Work’ certified in 2020
- SecurityScorecard assembled an elite, diverse executive team with significant operational and relevant experience to scale to billions in revenue. Recent hires include: Christos Kalantzis, SVP Technology and R&D: from FireEye where he was VP, Engineering, and previously holding Engineering leadership roles at companies addressing massive technology scale like Tenable and Netflix. Mike Wilkes, Principal, Corporate & Product Security, CISO: previously Director, Architecture & security at Marvel Entertainment; Mag Goossens, Chief People Officer: Mag joined SecurityScorecard from Dstillery where she was Chief Talent Officer. Before Dstillery, she was the Head of Talent in Residence at Samsung NEXT where she focused on strategy and operational excellence globally. Mag also led teams at IPG, Viacom, and AOL
“With strong regulatory tailwinds, our platform’s high network effort and scale, our massive alliance and partnership distribution, and the trust we’ve built in the insurance space, SecurityScorecard is the gold standard in ratings,” said Yampolskiy. “We’re on the path to becoming as big as credit rating agencies. There is a massive future opportunity and the story for SecurityScorecard is only beginning to be written.”
Funded by world-class investors including Moody’s, Sequoia Capital, GV, Riverwood Capital and others, SecurityScorecard is the global leader in cybersecurity ratings and the only service with over 1.5M+ companies companies continuously rated. Founded in 2013 by security and risk experts Dr. Aleksandr Yampolskiy and Sam Kassoumeh, SecurityScorecard’s patented rating technology is used by over 1,000 organizations for enterprise risk management, third-party risk management, board reporting, due diligence, and cyber insurance underwriting. SecurityScorecard continues to make the world a safer place by transforming the way companies understand, improve and communicate cybersecurity risk to their boards, employees and vendors. Every company has the universal right to their trusted and transparent Instant SecurityScorecard rating. For more information, visit securityscorecard.com or connect with us on LinkedIn.
View original content to download multimedia: http://www.prnewswire.com/news-releases/securityscorecard-accelerates-on-path-to-becoming-gold-standard-with-high-worldwide-customer-growth--massive-network-effects-301171409.html