Deepwatch Announces Second Year of Rapid Growth
DENVER, CO – February 9, 2021 – Deepwatch, a leading provider of intelligence-driven managed security services, today announced another strong year of growth including significant customer, product, partner and team expansion in 2020.
The global pandemic disrupted business operations. Workforces shifted to a remote paradigm, the attack surface was significantly expanded, and the new environment interjected greater security risks for businesses. Highlighted by the SolarWinds hack in December, cyberattacks increased dramatically throughout 2020 — with the FBI’s Internet Crime Complaint Center reporting up to a 400 percent increase in complaints.
“The increased risk drove greater demand for the protection delivered by Deepwatch, resulting in a surge of new business among existing and new customers, including numerous Fortune 500 companies.” said Deepwatch CEO Charlie Thomas, “Our October announcement of a $53 million Series B investment led by Goldman Sachs with participation from ABS Capital Partners, enables us to further accelerate our growth by attracting top talent, extending our innovative cloud platform, and growing our sales and partner ecosystem. As one of the fastest growing cloud companies, Deepwatch’s growth places us among leading Cloud companies like Shopify, Coupa, HashiCorp and Twilio.”
2020 highlights include:
- 175 billion logs analyzed
- 15 million Intelligence alerts
- 60,000 actionable incidents caught
- >100% net revenue retention
- 225% growth in customers subscribing to multiple products
- >400% growth in new partner ARR
- Introduced patent pending Maturity Model to benchmark security posture
- Grew Partner Ecosystem > 500%
- Certified as a Great Place To WorkⓇ
- Supported community and diversity non-profit programs throughout the U.S. including Feed the Frontlines (Denver), Shriners Hospital (Tampa Bay), and STEM for Her (Virginia)
Further bolstering Deepwatch’s elite team of innovators and its ability to identify unique analytical insights for customers, the company announced the appointment of Marissa “Reese” Wood, PMP, CISSP as vice president of product strategy and Parag Baxi, CISSP as head of product engineering.
“Deepwatch has the talent, innovation, and strategy to continue our exceptional growth trajectory,” Thomas continued. “The company plans to build on our track record as the clear market leader, delivering innovative white glove solutions that detect anomalous activities while delivering expert threat operations. It’s clear that CISOs value our commitment to improving their security posture and delivering outcomes based on a true partnership that’s based on great people and technology.”
Deepwatch helps secure the digital economy by protecting enterprise networks, everywhere, every day. Deepwatch leverages its highly automated cloud-based SOC platform backed by a world class team of experts that protect customers’ digital assets 24/7/365. Deepwatch extends security teams and proactively improves cybersecurity posture via its squad delivery and proprietary maturity model. Many of the world’s leading brands rely on Deepwatch’s managed security services. Visit www.deepwatch.com.