Portnox Reports 2018 Business Results
SaaS Revenues Increased More than 250% as Midsize Enterprises and Managed Service Providers Flocked to Cloud Delivered Network Access Control Solution
New York, Feb.27, 2019 – Portnox, a leading provider of network access control, visibility and device risk management solutions, today announced it achieved record business results in 2018 due to accelerating demand for Portnox CLEAR, its cloud-delivered NAC product, among midsize organizations and managed service providers. The company boosted SaaS revenues by more than 250% year over year, doubled customer acquisition in key verticals and expanded its global footprint through strategic MSP and channel partnerships.
Portnox will demonstrate Portnox CLEAR at RSA Conference 2019 Booth #5366 in the North Expo at the Moscone Center in San Francisco from March 5-7.
Portnox was also named the leader for NAC products among midsize to large organizations with a 22% market share by global research firm Frost & Sullivan in the recent “NAC Market, Global Forecast to 2022”. According to the report, NAC revenues are expected to grow from 2017 to 2022 at a 16.9% CAGR, reaching $2.1 billion.
In 2018, the company was recognized for its technology innovations by Info Security Product Guide Excellence Awards, Cyber Defense Magazine InfoSec Awards, Cybersecurity Excellence Awards and the SC Magazine SC Awards.
“There is a large, untapped need among organizations, especially mid-size enterprises, for a simpler approach to network access control that is easy to deploy, operate and manage like our cloud-delivered Portnox CLEAR solution,” said Ofer Amitai, CEO and Co-Founder of Portnox. “We experienced a major spike in revenues last year as end customers turned to our channel partners and MSPs to implement Portnox CLEAR for its ability to eliminate the complexity of deploying and managing NAC in distributed environments.”
Portnox 2018 Highlights
- Increased SaaS revenues 250% year over year
- Doubled SaaS customer base
- Appointed Tomer Shemer-Buchbut Vice President of Products
- Extended business partnership with Microsoft with availability of Portnox CLEAR on Microsoft Azure Marketplace and MS AppSource
- Introduced Portnox CLEAR app for the Palo Alto Networks® Application Framework
- Launched Portnox Sphere Global Partner Program
- Expanded global footprint through partnerships with managed service providers in the US
Portnox provides simple to deploy, operate and maintain network access control, security and visibility solutions. Portnox software can be deployed on-premises, as a cloud-delivered service, or in hybrid mode. It is agentless and vendor agnostic, allowing organizations to maximize their existing network and cybersecurity investments. Hundreds of enterprises around the world rely on Portnox for network visibility, cybersecurity policy enforcement and regulatory compliance. The company has been recognized for its innovations by Info Security Products Guide, Cyber Security Excellence Awards, IoT Innovator Awards, Computing Security Awards, Best of Interop ITX and Cyber Defense Magazine. Portnox has offices in the U.S., Europe and Asia. For information visit https://www.portnox.com/, and follow us on Twitter and LinkedIn.