Portnox Sees 30% Year-Over-Year Growth in Revenue in 2020
Acceleration of Cloud NAC Service Adoption & Geo-Expansion Powers Gains
NEW YORK, NY – February 2, 2021 – Portnox, a leading provider of network access control (NAC) and network security solutions, today announced that its revenues grew by 30% year-over-year from 2019 to 2020. The surge in revenue is primarily driven by the global cross-vertical adoption of Portnox CLEAR. As the first and only cloud-delivered NAC solution on the market, Portnox CLEAR offers simple and fast deployment of network authentication and segmentation based on cloud repositories such as Azure AD and Okta, as well as other classic on-premise directories.
“Despite a challenging year due to the COVID-19 pandemic, we were able to show strong gains in 2020,” said Ofer Amitai, Portnox CEO. “We saw the immense value Portnox CLEAR brought to our customers in action throughout the year – as the service helped to block remote access attacks and prevent lateral movement inside networks with its powerful segmentation capabilities.”
The pandemic served as a de facto catalyst for the adoption of enterprise cloud technologies in 2020. According to Gartner, the proportion of IT spending that is shifting to cloud will accelerate in the aftermath of the COVID-19 crisis.1
“In order to adapt to the new reality of corporate operations in 2020, businesses had to be agile. This meant allowing for work-from-anywhere policies, which exposed companies to an ever-expanding landscape of cybersecurity threats,” commented Amitai. “There’s been a noticeable awakening to the flexibility, scalability, and effectiveness of cloud security solutions like Portnox CLEAR as business operations remain in flux due to COVID-19.”
“We are seeing a growing trend of companies replacing their legacy on-premise NAC solutions with Portnox CLEAR’s cloud NAC service, as it offers the flexibility and simplicity required by many companies these days,” said Tomer Shemer, Vice President of Products at Portnox.
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 www.portnox.com, and follow us on Twitter and LinkedIn.