Gurucul Reports Record Growth in 2018

Company Increased Revenues More than 200% and SaaS Adoption by 600%
for Behavior-based Security and Fraud Analytics

LOS ANGELES–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/EY?src=hash” target=”_blank”gt;#EYlt;/agt;–Gurucul, a leader in behavior based
security and fraud analytics technology, today announced it achieved
record business results in 2018 including a more than 200% increase in
revenues fueled by accelerating demand for its Gurucul Risk Analytics
(GRA) platform (including the UEBA, Identity Analytics, Cloud Analytics
products) and Gurucul Fraud Analytics.

Gurucul also experienced 600% growth for its Security and Fraud
Analytics as a service offering, signed marquee customers in the
financial, insurance and healthcare sectors, made several key management
hires and expanded its global footprint through several strategic
business partnerships.

According to Mordor
Intelligence
the global security analytics market was valued at USD
2.71 billion in 2017 and is expected to reach USD 4.85 billion in 2023
with a CAGR of 10.7%, during the forecast period (2018-2023).

In 2018, two Gurucul customers received the prestigious CSO50 Award from
IDG’s CSO for innovation and business value using Gurucul Risk
Analytics. CEO Saryu Nayyar was recognized as a Thought Leader in SC
Media’s Reboot Leadership Awards, and published the second edition of
her book Borderless Behavior Analytics – Who’s Inside? What’re They
Doing?
with contributions from Jim Routh – CSO CVS, Bill Scandrett –
CISO Allina Health, Vishal Salvi – CISO Infosys and Devin Bhatt – CISO /
Chief Privacy Officer US Federal. The company also received several
awards from American Security Today, Cyber Defense Magazine and Business
Intelligence Group.

“Market adoption of security and fraud analytics is being fueled by the
recognition that traditional tools are not able to predict, prevent,
detect and respond to insider threats, advanced attacks and
cross-channel fraud especially for hybrid cloud environments,” said
Saryu Nayyar, CEO of Gurucul. “We experienced a significant jump in
revenue last year as customers deployed Gurucul’s platform to prevent
data breaches and fraud; enable model driven security and business
processes, comply with regulatory mandates in healthcare and financial
services, and privacy mandates like GDPR, HIPAA and PCI-DSS.”

Gurucul’s success last year was based on its ability to help
organizations leverage advanced real time security and fraud analytics,
provide a holistic and contextual view of risks and threats, and enable
automated controls in both cloud and enterprise environments, which go
beyond SIEM and traditional fraud prevention technologies.

According to CEO Saryu Nayyar, “Customers are losing faith in SIEM
solutions and their rules-based black box analytics, high costs and
reliance on threat hunting experts in a resource constrained market, and
instead are favoring security analytics as a service that possess SIEM
capabilities.”

Gurucul 2018 Highlights

The company achieved the following business milestones last year:

  • Grew revenues by more than 200%
  • Acquired marquee customers in the financial services, insurance and
    healthcare verticals
  • Experienced a more than 600% increase in the adoption of its Gurucul
    Security and Fraud Analytics as a Service offerings
  • Increased adoption of Gurucul Labs managed security services by 400%
  • Bolstered leadership team with key executive hires: Jasen Meece as
    president of business development, Jack Jaffe as senior vice president
    of sales, and Jane Grafton as vice president of marketing
  • Signed strategic customers in APAC and EMEA and added new in-country
    team members
  • Expanded global footprint with strategic business partnerships in APAC
    and EMEA

About Gurucul

Gurucul is a global cyber security and fraud analytics company that is
changing the way organizations protect their most valuable assets, data
and information from insider and external threats both in the cloud and
on premises. Gurucul’s real-time security analytics and fraud analytics
technology combines machine learning behavior profiling with predictive
risk-scoring algorithms to predict, prevent and detect breaches and
fraud. Gurucul technology is used by Global Fortune 1000 companies and
government agencies to fight cyber fraud, IP theft, insider threats and
account compromise. The company is based in Los Angeles. To learn more,
visit https://gurucul.com/ and follow
us on LinkedIn
and Twitter.

Contacts

Marc Gendron
Marc Gendron PR
781-237-0341
[email protected]

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