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IT Security Innovator, Rapid7, Finishes 2012 Strong With Its Fifteenth Consecutive Quarter Of Record Revenue and Hundreds Of New Customers

2013-03-13

BOSTON ---- Rapid7, a leading provider of IT security risk management software and cloud solutions, today announced that it closed 2012 with its fifteenth consecutive quarter of record revenue. For fiscal 2012, Rapid7 achieved its highest revenue ever and launched into 2013 growing at double the rate of IT security point solutions in its space.

In 2012, Rapid7 also expanded its team and global footprint while continuing to drive the enthusiastic and inventive work environment that resulted in the Company being named the Best Place to Work by the Boston Business Journal. The Company also opened offices in Sydney, Hong Kong and Amsterdam.

Technology Innovation

Rapid7 recently introduced significant innovations across its IT risk management software suite to improve an organization’s ability to assess, analyze and test the security of their assets, users, and controls.

Configuration Assessment
Rapid7 introduced new configuration assessment capabilities and enhanced reporting in the latest version of Nexpose to help organizations gain further visibility into their security posture and simplify the mitigation of risk. Customers can also now benefit from even greater flexibility with the option of deploying Nexpose as a virtual appliance in addition to existing options of a physical appliance, a hosted SaaS solution, and downloaded software.
Analyze and Test User Risk
The latest version of the industry’s leading penetration testing solution introduced advanced capabilities for simulating social engineering attacks. Metasploit 4.5 simulates phishing, arguably the most common initial attack vector, to give a realistic picture of your organization’s exposure to user risk.
Discover, Manage and Mitigate Mobile Device Risk
Addressing the risks to organizations from the Bring Your Own Device (BYOD) trend, Rapid7 acquired mobile risk management provider, Mobilisafe. The Mobilisafe solution complements Rapid7’s IT Risk Management Suite by giving IT administrators visibility into the mobile devices accessing the organization’s network, and identifies and prioritizes the risks associated with them. The Rapid7 solution enables IT to manage and mitigate risk, as well as enforce mobile security policies.

Security Community Leadership

Rapid7 deepened its contribution to the security community through a number of activities, including education about threats through its unique research, funding open source innovation, and providing free tools for security assessment. The Company also continued to drive discussions with the security community on SecurityStreet.

Prominent Security Threat Research
In the fourth quarter, Rapid7’s researchers continued to shine a light on exploits being used in the wild and the zero day vulnerabilities they attack, encouraging software vendors to address these flaws and help their users protect themselves. These included zero days in Internet Explorer, Novell ZENworks, and Tectia SSH. The team also identified and analyzed a TOR-powered botnet with DDoS, Bitcoin mining and banking capabilities.
Continued Open Source Investments
Rapid7 also continued to lead open source development in the security industry in 2012 through the Magnificent7 program; a fund of $100,000 committed to supporting seven innovative open source security projects. Promising projects were chosen and announced in March and October. This builds on Rapid7’s continued support of the Metasploit open source community, as well as past backing for the W3AF and John the Ripper projects.
Innovative Security Tools
In Q4, Rapid7 launched BrowserScan, a free enterprise browser security analysis tool that allows users to identify browser-based security risks without the installation of desktop agents. By placing a tracking code on an intranet or highly-visited page, security professionals can gain visibility into their organization’s browser-based vulnerabilities within minutes.

Strong Continued Customer Growth

Rapid7 continued to expand its impressive customer portfolio throughout 2012, adding more than 750 new enterprise, mid-market and public sector customers. These included leading global power companies, international tax, audit and consulting firms, prestigious universities and strong representation across several industry segments. Rapid7 now works with 20% of the companies included in the Fortune 500.

Leadership Team Growth

Throughout 2012, Rapid7 continued to add seasoned leaders and highly talented team members across all departments. Steven Gatoff – formerly of iPass (NASDAQ: IPAS) – joined Rapid7 as chief financial officer (CFO), and Jay Leader – formerly at iRobot Corporation - took the position of chief information officer (CIO). Michael Berry, executive vice president and CFO at SolarWinds, Inc., joined Rapid7’s Board of Directors as chairman of the Audit Committee.

About Rapid7

Rapid7 is the leading provider of security risk intelligence. Its integrated vulnerability management and penetration testing products, Nexpose and Metasploit, and mobile risk management solution, Mobilisafe, empower organizations to obtain accurate, actionable and contextual intelligence into their threat and risk posture. Rapid7's solutions are used by more than 2,000 enterprises and government agencies in more than 65 countries, while the Company's free products are downloaded more than one million times per year and enhanced by the more than 175,000 members of its open source security community. Rapid7 has been recognized as one of the fastest growing security companies by Inc. Magazine and as a "Top Place to Work" by the Boston Globe. Its products are top rated by Gartner®, Forrester® and SC Magazine. The Company is backed by Bain Capital Ventures and Technology Crossover Ventures.

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