The funds to further strengthen routes to market, expand hiring and accelerate technological innovation
Skybox has received a $96M financial investment from Providence Equity Partners (PSG). With the investment, Mark Hastings and Thomas Reardon, managing directors with PSG, will join the Skybox board of directors.
“This deal is a great validation of our strategic vision for the company, the success of our technology in the market and our ability to execute,” said Gidi Cohen, Founder & CEO, Skybox Security. “We’ve been on an incredible upward trajectory, and the investment will accelerate that growth. I’ve no doubt, with the innovations we’re bringing to market this year and next, Skybox will become the undisputed leader in security analytics.”
Despite billions of dollars spent annually on cybersecurity tools and services, the time required to resolve a cyberattack continues to increase. This is compounded by the increasing complexity of networks with thousands of potentially exploitable attack vectors, leaving security professionals struggling to discover areas of highest risk and prioritize mitigation and remediation actions. CISOs are also searching for ways to properly evaluate strategic options and convey the potential business impact of emerging threats to senior executives and the board.
The Skybox Security Suite solves these problems by integrating with more than 90 networking and security tools in use by enterprises today. The Suite utilizes advanced analytics, such as modelling and simulation, to extract relevant and actionable intelligence from the silos of data created by those tools, giving security leaders the most comprehensive view of their attack surface and the insight needed to quickly make informed decisions about where to direct security resources.
In four years, Skybox has grown its acquisition rate of new customers by 220 percent and revenue by 221 percent. In 2015, the company increased year-over-year sales by 55 percent, fueled by a 59 percent increase in deals valued more than $100,000 and a 165 percent increase in deals valued more than $500,000.
Skybox customers are Global 2000 companies and government agencies, in more than 50 countries and nearly every industry. In India, Skybox has customers in verticals like banking, telecom, IT/ITES and Managed Services, including 5 of the Global 2000 ranking customers in the region. Our expansion in the region is fueled by our valued partners – Mahindra SSG, ValuePoint Techsol, Happiest Minds, ACPL Ltd, IT Orizin, Wipro Ltd, HCL Technologies to name a few.
