|By Business Wire
|January 3, 2013 09:08 AM EST
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.
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
“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 &
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
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).
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
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.
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.
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