Increased Market Traction of NetWitness’ NextGen Platform Fueling Customer Growth and Market Success
HERNDON, VA – October 14, 2008 – NetWitness Corporation, the leading provider of next generation network security monitoring and active threat intelligence software, today announced that it has set major new benchmarks for company growth in the most recent quarter ending September 30. This year’s third quarter was NetWitness’ largest with respect to sales and revenue, both surpassing fiscal year 2007, and representing the eighth consecutive quarter of increasing sales since the inception of the company. Driving this success is the NetWitness NextGen™ platform.
Corporate Growth Over the third quarter, NetWitness achieved significant increases in all key corporate performance measures, including a 700% bookings growth from the same quarter last year and greater than 350% revenue growth compared to the same quarter last year.
NetWitness continues to deliver on a successful go-to-market strategy, demonstrating continued strength across many sectors. NetWitness added a number of enterprise deployments within US Government Agencies in the Civilian, Intelligence, and Department of Defense (DoD) communities during the third quarter. The focus for these customers is on compliance with trusted internet connections (TIC) architecture requirements and TIC service provider functionality, including inspection of secure sockets layer (SSL) traffic.
The company also added two of the largest U.S. banks where the focus is on the discovery and rapid mitigation of advanced persistent threats from state-sponsored and organized crime groups. New NetWitness customers include many of the top industry leaders within the Transportation, Information Technologies, Financial Services, Healthcare, and Higher Education sectors. NetWitness also posted exceptionally strong sales in the International sector during the quarter as well.
“NetWitness will continue to capitalize on the requirements of public and private sector organizations to obtain deeper visibility into a broad range of advanced persistent network threats,” stated Michael Montecillo, Senior Analyst, Enterprise Management Associates. “We see NetWitness maintaining its momentum in the incident response space while increasing its market position in areas such as compliance verification and data leakage protection through 2010."
Corporate Expansion During the last two quarters NetWitness doubled the size of its Herndon, VA headquarters space to accommodate additional sales, marketing, development and engineering staff to maintain pace with booked orders and mature pipeline momentum.
"NetWitness has emerged as the clear leader to fill a critical gap in the network security software market for organizations needing to deal effectively with complex security threats,” said Dana Duffy, CFO, NetWitness Corporation. "Our track record of proven success coupled with continued market expansion has set the stage for strong, sustained growth in 2009 and beyond."
About NetWitness NetWitness® Corporation provides patented next generation network monitoring software products that enable organizations to achieve Total Network KnowledgeTM. Users of NetWitness NextGenTM can concurrently solve a wide variety of network and security problems, including, insider threat management, data leakage protection, malware activity detection, network performance management, compliance verification and e-discovery. Originally, developed for the US Intelligence Community, NetWitness has evolved to provide enterprises with breakthrough methods of network content analysis and risk determination. Customers include Defense, National Law Enforcement and Intelligence Agencies and Fortune 1000 organizations. For more information visit: www.netwitness.com.