Cloud Security Provider TraceSecurity Announces 2012 Revenue, Customer Growth


Cloud Security Provider TraceSecurity Announces 2012 Revenue, Customer Growth

By Erin Harrison

Officials with cloud-based IT governance, risk and compliance provider TraceSecurity said the Silicon Valley-based company posted a year of “record revenue” in 2012, signing more than 500 customers and growing its retention rate to 92 percent.

The SaaS computing business grew its employee-base in 2012 by more than 35 percent over 2011 expanding to meet the demand for its risk-based information security program solution, according to Peter Stewart, president and CEO of TraceSecurity.

“We were extremely excited with the launch of our cloud-based information security program solution,” Stewart said in a statement. “It was the culmination of 18 months of dedicated work and shows great promise for 2013.”

Currently serving more than 1,500 customers, TraceSecurity supports the security and risk management efforts of organizations in financial services, healthcare, high-tech, insurance, government, education and other regulated sectors.

Stewart said that this year the company plans to focus on enhancements for automated control implementation, third party control integration, and functionality to support the company’s partners.

In addition to TraceSecurity’s revenue and customer and growth, the company also highlighted other milestones in 2012, which include the following:

  • TraceSecurity launched TraceCSO, a cloud solution for a holistic and risk-based information security program that is designed to provide comprehensive visibility and accountability for improved risk and compliance profiles across all areas of an organization, including cloud environments. TraceCSO allows organizations of any size, industry or security level to implement and manage a comprehensive risk-based information security program to protect their organizations from today’s top information security risks, including cloud security and Bring Your Own Device (BYOD) concerns. ?
  • To support the rollout and availability of TraceCSO, company officials said TraceSecurity’s employee-base grew a record 35 percent as the company ramped up marketing, business development, channels and development. This included adding a dedicated team to support sales, delivery and deployment of TraceCSO. To accommodate this growth, as well as continued growth in 2013, TraceSecurity expanded its office space by 50 percent. ?
  • Personnel changes during the year included the promotion of Jason Wells to VP of delivery; and the hiring of Alan Fortier, director of channels; and Ashley Swanson, director of product marketing. ?
  • In December, TraceSecruity rolled out TraceCSO API, an enhancement to the TraceCSO risk-based information security program.

While TraceCSO comes equipped with its own comprehensive risk management and security solutions, its SOAP-enabled API allows customers to leverage their investments in existing security solutions – such as vulnerability scanners today, and coming support for SIEM systems, IDS/IPS solutions and endpoint monitoring/management tools – while centralizing visibility and automating management to eliminate costly and time-consuming siloed management approaches.

Edited by Brooke Neuman

Executive Editor, Cloud Computing

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