Welcome!

Weblogic Authors: Elizabeth White, Michael Meiner, Michael Bushong, Avi Rosenthal

News Feed Item

Cloud Data Protection Leader PerspecSys Closes out 2012 With Record Growth & Adoption of Multi-cloud Data Security Gateway

PerspecSys Inc., the leader in cloud data protection solutions for the enterprise, today reported the achievement of 2012 year-end milestones including record sales, widespread adoption of its multi-cloud gateway platform and continued strong market momentum leading into 2013.

Last year, the company deployed its Cloud Data Protection Gateway into some of the most demanding global enterprise IT environments, including the operations of the world’s largest multinational conglomerate corporation and two of the largest global financial institutions. The company’s broad-based customer growth among highly complex, regulated organizations underscores the success of its multi-cloud platform approach, which gives enterprise customers the data security they need across a wide variety of cloud applications through a single gateway solution that delivers the strongest levels of security while preserving cloud-application functionality. Security solutions like PerspecSys are part of a rapidly growing category that Gartner refers to as Cloud Access Security Brokers, forecasted to have adoption rates of up to 25 percent among enterprises by 2016.

Product Development

In addition to client growth, PerspecSys advanced product development by broadening support for a series of cloud applications, expanding its market opportunity to include enterprise users of those services. On top of dozens of new product features, PerspecSys also pioneered an open “pluggable” encryption solution to ensure an enterprise’s preferred or legacy encryption modules can be used within the PerspecSys gateway to protect data being used in its cloud applications (including those that are FIPS 140-2 validated) without impacting the end users experience with their cloud applications.

Patents, Partnerships, Testing & Global Expansion

PerspecSys initiated and broadened significant new technology, delivery and sales partnerships in 2012, extending its ecosystem in a number of important areas to support client needs. Other notable milestones included independent third-party testing and validation for PerspecSys’ entire platform, including its industry-first cloud data tokenization approach, expanded operations in the U.S., Europe and Asia, filing for multiple patents for its innovative technology solution and winning several respected industry awards for its superior cloud data protection solution.

“Cloud data security continues to be one of the top priorities for businesses worldwide, yet there is still so much confusion about what’s really important when it comes to how to protect your most sensitive information,” said David Canellos, CEO, PerspecSys. “At PerspecSys, we make it simple by offering a solution that addresses not only data privacy, residency, and compliance concerns but also the preservation of cloud application functionality across a variety of popular applications. We are the only company to deliver such a complete solution, the only one to offer the strongest levels of tokenization and encryption available, and the only one to offer true multi-cloud support that preserves the greatest amount of application functionality. Thanks to this unique combination and the scalability of our platform, enterprise IT and Security teams consistently select us over competitors as the smartest choice for safeguarding their sensitive enterprise information as they make their move to the cloud.”

2012 Highlights in Brief

Increased Customer Base

PerspecSys has added and retained a record number of clients across the healthcare and medical, manufacturing, defense, public sector, retail, insurance and financial services sectors, contributing to its strong financial and operational growth. When selecting PerspecSys, customers highlighted a number of unique benefits of its gateway versus alternatives in the market, including:

  • Unmatched ability to preserve cloud application functionality, such as searching, sorting, emailing, reporting, etc.;
  • Not requiring weakened encryption or tokenization techniques be used in order to maintain application usability;
  • The ability to offer a robust tokenization approach as a data security alternative to encryption (a unique capability particularly important where data residency regulations are in place);
  • Deep partnerships with leading companies in the cloud computing, security and datacenter ecosystem that has produced an open platform, highly scalable and enterprise ready, and multi-cloud capable.; and
  • The endorsements from the PerspecSys customer base, validation from industry research analysts, third-party assessors and leading companies in the partner community aligning with PerspecSys.

PerspecSys experienced customer growth across the globe, with significant traction in the Americas, Europe, and Asia Pacific regions.

Expanded Management & Engineering Team

PerspecSys tripled the number of employees in 2013, and hired industry veterans and innovators in sales, marketing, engineering and R&D positions throughout all levels of the organization. New additions to the executive team during the year included:

  • Mike Morrissey, vice president of engineering and research & development
  • John Emerson, vice president, sales
  • Gerry Grealish, vice president, marketing & products
  • LJ Alefantis, area vice president sales
  • Eric Hay, senior director, systems engineering
  • Ed Dean, senior director, technology
  • David Stott, senior director, product management
  • Dave Vogel, senior director of business development

Added New Partners, Broadened Solution Support and Achieved Interoperability

The company added support for a series of new cloud applications during the year, such as Oracle’s CRM On Demand, Marketing On Demand, and Fusion CRM products, Salesforce.com’s Chatter social collaboration application, Xactly Incent and AppExtreme’s Conga Composer. PerspecSys also collaborated with leading security firms, including Symantec and Ping Identity, to develop seamless interoperability between PerspecSys’ gateway and the industry’s leading Single-Sign-On (SSO) offerings. Additional security partnerships were forged with encryption leaders SafeNet and Voltage Security to offer solutions to the market leveraging PerspecSys’ gateway together with their advanced cryptographic engines. Finally, partnerships were also penned with some of the world’s most influential IT cloud services companies such as Amazon, Fujitsu, and Computer Sciences Corporation (CSC).

Industry Recognition

PerspecSys continued to win accolades from the industry for its innovations in cloud security, garnering prizes from the Golden Bridge Awards, the Cloud Computing Excellence Awards and the International Stevie Awards. The company was also highlighted in a number of industry analyst reports, including Gartner’s “The Growing Importance of Cloud Security Access Brokers.” PerspecSys executives were sought-after experts in 2012, having been invited to speak or exhibit at key events including Oracle Open World, Cloud Expo, RSA, and other industry events to help educate audiences on the myths vs. realities surrounding cloud data security.

Continued Operational Expansion

In addition to its existing Toronto office, the company opened offices in London, San Francisco and the Washington, D.C. area during the year. These new locations allow PerspecSys to better support its clients and partners, and to leverage the technology innovation coming out of Northern California and the security sector surrounding the U.S. Capital.

The PerspecSys Cloud Data Protection Gateway

The PerspecSys Cloud Data Protection Gateway gives enterprises and public-sector organizations total control over their sensitive data – enabling them to use popular cloud applications from companies like Oracle and Salesforce.com, while still meeting strict legal and industry compliance requirements. Using patent-pending technology, the PerspecSys Gateway intercepts sensitive data while it is still on-premise and replaces it with a randomly tokenized or strongly encrypted value, rendering it meaningless should anyone hack the data while it is in transit, processed or stored in the cloud. In addition, the PerspecSys solution offers the differentiated ability to preserve cloud application functionality – even when the data is tokenized or strongly encrypted – using National Institute of Standards and Technology (NIST) listed FIPS 140-2 compliant modules. With PerspecSys, end users have access to features and functions such as ability to do standard and complex searches on data, send emails, and generate reports – even though the sensitive data is no longer in the cloud application.

About PerspecSys

PerspecSys Inc. is a provider of cloud data protection solutions that enable mission-critical cloud applications to be adopted throughout the enterprise. PerspecSys removes the technical, legal and financial risks of placing sensitive company data in the cloud. The company accomplishes this for many large, heavily regulated companies across the world by never allowing sensitive data to leave a customer’s network, while maintaining the functionality of cloud applications. Based in Toronto, PerspecSys Inc. is a privately held company backed by leading investors including Intel Capital and GrowthWorks. For more information on PerspecSys, please visit www.perspecsys.com or follow on Twitter @perspecsys.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
Artificial Intelligence has the potential to massively disrupt IoT. In his session at 18th Cloud Expo, AJ Abdallat, CEO of Beyond AI, will discuss what the five main drivers are in Artificial Intelligence that could shape the future of the Internet of Things. AJ Abdallat is CEO of Beyond AI. He has over 20 years of management experience in the fields of artificial intelligence, sensors, instruments, devices and software for telecommunications, life sciences, environmental monitoring, process...
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
A critical component of any IoT project is the back-end systems that capture data from remote IoT devices and structure it in a way to answer useful questions. Traditional data warehouse and analytical systems are mature technologies that can be used to handle large data sets, but they are not well suited to many IoT-scale products and the need for real-time insights. At Fuze, we have developed a backend platform as part of our mobility-oriented cloud service that uses Big Data-based approache...
trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vice president of product management, IoT solutions at GlobalSign, will teach IoT developers how t...
Digital payments using wearable devices such as smart watches, fitness trackers, and payment wristbands are an increasing area of focus for industry participants, and consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market. Wearable payment systems may utilize near field communication (NFC), radio frequency identification (RFID), or quick response (QR) codes and barcodes...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
The demand for organizations to expand their infrastructure to multiple IT environments like the cloud, on-premise, mobile, bring your own device (BYOD) and the Internet of Things (IoT) continues to grow. As this hybrid infrastructure increases, the challenge to monitor the security of these systems increases in volume and complexity. In his session at 18th Cloud Expo, Stephen Coty, Chief Security Evangelist at Alert Logic, will show how properly configured and managed security architecture can...
There is an ever-growing explosion of new devices that are connected to the Internet using “cloud” solutions. This rapid growth is creating a massive new demand for efficient access to data. And it’s not just about connecting to that data anymore. This new demand is bringing new issues and challenges and it is important for companies to scale for the coming growth. And with that scaling comes the need for greater security, gathering and data analysis, storage, connectivity and, of course, the...
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, will explain how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
SYS-CON Events announced today that Ericsson has been named “Gold Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Ericsson is a world leader in the rapidly changing environment of communications technology – providing equipment, software and services to enable transformation through mobility. Some 40 percent of global mobile traffic runs through networks we have supplied. More than 1 billion subscribers around the world re...
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, will discuss how leveraging the Industrial Interne...
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
You deployed your app with the Bluemix PaaS and it's gaining some serious traction, so it's time to make some tweaks. Did you design your application in a way that it can scale in the cloud? Were you even thinking about the cloud when you built the app? If not, chances are your app is going to break. Check out this webcast to learn various techniques for designing applications that will scale successfully in Bluemix, for the confidence you need to take your apps to the next level and beyond.