Malwarebytes Reports Record Growth in Annual Recurring Reven
SANTA CLARA, Calif., July 15, 2020 /PRNewswire/ -- MalwarebytesTM, a leading provider of advanced endpoint protection and remediation solutions, today announced record results from its 2020 fiscal year, demonstrating continued acceleration in growth. The company exited fiscal 2020 with more than $190 million in Annual Recurring Revenue (ARR). Since 2019 the company has added over 120 new employees worldwide to support this growth, bringing total headcount to over 860. Malwarebytes is preparing for another strong fiscal year ahead by continuing to expand its customer base, product portfolio, partnerships, geographic footprint, workforce, and cloud platform capabilities.
"In 2019 we continued to focus on our customers and creating a safer and more secure environment as people and endpoint devices move between home and work. With today's dramatic shift to remote work, this effort has now proven to be more relevant than ever before. Last year not only did we help customers prevent and recover from active attacks, we also collaborated with law enforcement, nonprofits and other vendors on taking down stalkerware as part of our efforts to give back to the greater community," said Marcin Kleczynski, co-founder & CEO of Malwarebytes. "As we move ahead in 2020, we continue our work to make cybersecurity easier and more effective – no matter where users are sitting – while reducing the workloads of overburdened cybersecurity teams with a strong emphasis on privacy and protection for business customers and consumers alike."
In 2019, Malwarebytes grew substantially, releasing the latest version of its flagship consumer product, Malwarebytes 4.0, which added enhanced technologies like proactive ransomware technology, malicious website protection and anti-exploit capabilities to quickly identify malware and scan faster than ever—all with 50 percent less impact on computing performance. The company carried this momentum into early 2020 by revamping its partner program and launching OneView, a cloud-based operations console that simplifies and streamlines management for managed service providers (MSPs). In less than three months' time, Malwarebytes' partner base has skyrocketed with more than 50 percent growth in active managed services partners joining the program to take advantage of exclusive features and benefits. Additionally, new API integrations with XSOAR and Azure Sentinel help ease security orchestration for enterprise security operations centers (SOCs) and build on Malwarebytes' strong portfolio of technology partnerships.
"The addition of our enterprise business has helped propel our overall growth in recent years," said Tom Fox, chief financial officer of Malwarebytes. "Both business units continue to demonstrate solid growth and we are excited to cross the $200 million ARR threshold this year."
Malwarebytes further expanded its product portfolio by entering the virtual private network (VPN) market in April with Malwarebytes Privacy, to protect users' privacy online, and extending its key business products to include server specific protection. During its 2020 fiscal year, Malwarebytes detected and blocked nearly 900M threats, running close to 635M remediations, while also providing some of the most comprehensive threat intelligence available across both business and consumer machines.
Malwarebytes has also built upon its social responsibility efforts by helping professionals enter the cybersecurity field, giving away $100,000 in scholarships to science, technology, engineering and math (STEM) college and graduate students for the 2020-21 academic year. In November 2019, Malwarebytes helped co-found the Coalition Against Stalkerware, an organization dedicated to fighting applications used to track domestic violence victims without their consent.
Customers Trust Malwarebytes with Remediation and Malware Removal:
- Leading industry analyst firm, G2 Crowd, recognized Malwarebytes as the top Endpoint Protection Suite based on user satisfaction ratings with a 97 percent satisfaction rating. The company also secured the top position in both the Usability Index and Momentum Grid Report for endpoint protection suites
- Malwarebytes' Endpoint Protection products achieved the highest composite score in SoftwareReviews' annual Endpoint Protection Quadrant Report
- Malwarebytes was named a November 2019 Gartner Peer Insights Customers' Choice for Endpoint Protection Platforms and a May 2020 Gartner Peer Insights Customers' Choice for Endpoint Detection and Response
- User reviews rated Malwarebytes 4.6 stars out of 5 on Gartner Peer Insights for Endpoint Protection and 4.7 stars for Endpoint Detection and Response
- PC Mag gave Malwarebytes the top score in malware detection in its latest review
- Malwarebytes Endpoint Protection won the SC Awards 2020 "Best SME Security Solution"
Product & Ecosystem Expansion:
- Enhanced its Malwarebytes Nebula cloud platform with increased endpoint user auditability and ability for users to conduct investigations
- Extended existing technology partnerships with ServiceNOW, Splunk and Splunk Phantom to include Malwarebytes endpoint protection & response capabilities
- Launched Malwarebytes Breach Remediation with Forescout to help businesses accelerate incident response, stop zero-day exploits, and reduce exposure to emerging threats
- Launched new Malware Removal Service, enabling teams to isolate, and remediate an attack with guidance of hands-on experts
- Deployed two additional API integrations with Cortex XSOAR and Azure Sentinel to help automate threat response and analysis activities
Malwarebytes Company and Team Growth:
- Included on the Inc. 5000 list of Fastest Growing Companies for the fifth consecutive year
- Featured in Deloitte's Fast 500 list for 2019 with 260 percent growth
- Promoted industry veteran Akshay Bhargava to the role of Chief Product Officer
- Hired seasoned SaaS executive, Adam Hyder, as Senior Vice President of Engineering
- Recruited Dariusz Paczuski from Verizon Media as the new Senior Vice President of Marketing in 2020 to accelerate brand and business growth
- Recruited Jordan Ryan as Vice President of International Sales for EMEA and APAC
Malwarebytes is trusted to protect people and businesses against the latest dangerous cyberthreats including malware, ransomware and exploits that traditional antivirus solutions fail to catch. Malwarebytes offers comprehensive defense and recovery technologies to safeguard devices whether at home or in the office, enabling users to protect themselves anywhere, anytime. Malwarebytes' team of researchers and security experts protect more than 60,000 businesses and millions of people worldwide, combatting millions of threats daily using artificial intelligence and machine learning to identify behavior and catch new threats rapidly. Driven by a desire to protect everyone's right to a malware free existence, CEO Marcin Kleczynski founded Malwarebytes in 2008 and has grown the company to over 860 employees across the world today. The company is headquartered in California with offices in Europe and Asia. For more information, visit http://www.malwarebytes.com/.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy shares of Malwarebytes capital stock. Malwarebytes statements regarding its plans, directions and intent are subject to change or withdrawal without notice at our sole discretion. Information regarding projected sales, potential future products is intended to outline our general direction and it should not be relied on in making a purchasing decision.
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