Illumio Closes Record Fiscal Year as Adoption of Zero Trust Segmentation Expands
Illumio the clear market leader as it ends year with $100 million-dollar fourth quarter
SUNNYVALE, Calif., Feb. 28, 2023 (GLOBE NEWSWIRE) — Illumio, Inc., the Zero Trust Segmentation company, today announced that it has closed a record fiscal year ending on January 31, 2023. Despite recent economic uncertainty, Illumio’s fourth quarter delivered record performance for all top-line metrics, with bookings of over $100 million. The company added its largest number of new customers and the highest amount of net new annual contract value (NNACV) in company history in a single quarter. Illumio’s customer base now includes approximately 20 percent of the Fortune 100 and the company’s gross retention rate increased during the year to 97 percent, which is a strong reflection of the risk reduction and ransomware mitigation that the Illumio Zero Trust Segmentation (ZTS) platform is delivering to organizations worldwide.
In the face of economic headwinds, organizations continue to invest in Zero Trust Segmentation, as it ensures return on investment (ROI) by stopping the spread of breaches and ransomware. According to research from Enterprise Strategy Group (ESG), Zero Trust Segmentation users save $20.1M in annual downtime costs, free up 39 person-hours per week, and avert 5 cyber disasters annually. Additionally, a series of emulated attacks conducted by Bishop Fox proved that Zero Trust Segmentation stops attacks from spreading in 10 minutes, nearly 4 times faster than detection and response capabilities alone.
This year, Illumio also:
- Introduced Illumio Endpoint, a new solution that stops endpoint ransomware from spreading across the hybrid attack surface, so that the first device that gets infected is also the last.
- Achieved FedRAMP In Process designation for Illumio Government Cloud to help federal agencies stop the spread of breaches and reduce their risk.
- Bolstered the leadership team by naming Mario Espinoza as chief product officer and Gary Barlet as federal field chief technology officer.
- Announced that IBM Security’s new Application Visibility and Segmentation Solution was powered by Illumio.
- Was named a Leader in the Forrester New WaveTM: Microsegmentation, Q1 2022 and a Cool Vendor in Communications Service Provider (CSP) Business and Network Operations by Gartner.
- Joined the Amazon Web Services (AWS) Independent Software Vendor (ISV) Accelerate program, and made Illumio CloudSecure available in AWS Marketplace to make it easier for AWS customers to implement ZTS.
- Introduced several joint solutions with key technology partners including Armis, Appgate, and Cylera to help customers reduce risk and build resilience to cyberattacks across different environments.
“Security teams know that breaches will happen, and ransomware is inevitable no matter how much money they spend on detection and prevention – and this is why we’re seeing so much growth in Zero Trust Segmentation, enabling organizations to build resilience and minimize the impact of successful attacks,” said Andrew Rubin, CEO and co-founder at Illumio. “Our exceptional fiscal year is evidence that Zero Trust Segmentation has become a business imperative that delivers reduced risk, improved resilience, and a clear return on investment. Thank you to our customers, partners, and the Illumio team for their continued support on our mission to enable every organization to realize a future without high-profile breaches.”
“Illumio achieved several major milestones which prove we are delivering significant growth with a strong focus on improving the bottom line,” said Anup Singh, CFO at Illumio. “We continue to prioritize investing in product innovation and partnerships that make our customers more successful, while driving operational excellence. Illumio’s balanced growth strategy validates the opportunity in the Zero Trust Segmentation market as organizations increasingly prioritize reducing risk and building resilience to cyberattacks.”
About Illumio
Illumio, the Zero Trust Segmentation Company, stops breaches and ransomware from spreading across the hybrid attack surface. The Illumio ZTS Platform visualizes all traffic flows between workloads, devices, and the internet, automatically sets granular segmentation policies to control communications, and isolates high-value assets and compromised systems proactively or in response to active attacks. Illumio protects organizations of all sizes, from Fortune 100 to small business, by stopping breaches and ransomware in minutes, saving millions of dollars in application downtime, and accelerating cloud and digital transformation projects.
Contact Information
Holly Pyper
comms-team@illumio.com
669.800.5000
