DTEX Systems last week announced 2020 fiscal year new annual revenue growth of 300% over fiscal year 2019. DTEX has seen a sharp increase in global demand and adoption of its Workforce Cyber Intelligence platform which provides organizations a human-centric approach to insider threat protection, employee monitoring, remote workforce security, shadow IT awareness and data loss prevention while maintaining employee privacy and regulatory compliance.
DTEX also achieved a 97 percent customer retention rate as customers adopted InTERCEPT 6.0, the company’s cloud-based next-generation insider threat solution. Key sectors of growth and accelerated customer adoption were seen in the financial services, manufacturing, oil and gas, chemical, technology, healthcare, and pharmaceutical industries.
Cyber security veteran Jonathan Daly has joined DTEX as Chief Marketing Officer and is responsible for leading global brand, communications, and customer acquisition strategies. His track record of success includes helping companies define and lead high-growth technology markets such as Business-critical Application Security (Onapsis), External Threat Intelligence (IntSights). Previously, Daly led product and solution marketing for Carbon Black, helping to launch the market for Endpoint Detection and Response and created the Threat Hunting category that supported the company’s $1.25B IPO in May 2018 and 2019 acquisition by VMWare.
“The ability to see, understand and act on contextual cyber intelligence in a trustworthy, transparent and ethical way has never been more critical. Current market dynamics and workforce demands for privacy are challenging every organization to reconsider their first-generation insider threat and employee monitoring tools in favor of human-centric, behavior-driven, cloud-native solutions such as our Workforce Cyber Intelligence Platform,” said DTEX CEO and President Bahman Mahbod. “Enterprises need and want a better way to stop insider threats, prevent data loss, and protect workforce integrity and culture as proven by our 2020 Insider Threat Report and evidenced by our 300% growth over the past 12 months. The culmination of our recent funding, new product release, growing strategic partnerships, and the addition of Jonathan Daly to the team allows us to provide substantial value to our customers, helping them remain agile in this challenging operational environment.”
Last month, DTEX released its 2020 Insider Threat Report: ‘Remote and @Risk: Trusted Insider or Malicious Threat.’ The in-depth report details how the shift to a near 100% WFH workforce by the Global 5000 has significantly changed the behaviors of trusted insiders. in 2020. Key findings include a 450% increase in employees circumventing security controls to intentionally mask online activities and 230% increase in behaviors that indicate intent to steal data within the enterprises surveyed.
“DTEX’s focus on the human aspects of cybersecurity in addition to its technical leadership make them an invaluable addition to the A3C program,” said A3C CEO, Hai Tran. “A truly effective cybersecurity program must not only account for the data, machines and applications within an organization, but how the workforce that are using those tools on a day-to-day basis are trained, protected and supported. We support DTEX on its efforts to balance security with worker privacy and look forward to its continued collaboration with the A3C community.”
Additional Fiscal 2020 DTEX highlights include:
- Joined the Australian Cyber Collaboration Centre (A3C) to work closely with the Australian government and other A3C partners to train cyber security professionals to respond to insider threats.
- Announced $17.5 million in funding led by Northgate Capital with participation from existing investors Norwest Venture Partners and Four Rivers Group to be used for further expansion into vertical markets including financial services, critical infrastructure, government and defense, as well as pharmaceuticals, life sciences, and manufacturing.
- Launched Intercept 6.0, a next-generation insider threat management solution that gives executives, IT and cyber-security teams unprecedented ability to stop insider threats, prevent data loss, and protect the workforce via a cloud-based platform. Only InTERCEPT 6.0 captures and synthesizes 500 unique elements of behavioral telemetry from data, machines, applications, and people to produce ‘Indicators of Intent’ and deliver actionable, real-time awareness about workforce activity, efficiency and security without invading personal privacy.
