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Arxan Experiencing Double-Digit Revenue Growth As Company Continues To Expand Global Reach
SAN FRANCISCO, Aug. 1, 2018 /PRNewswire/ -- Arxan Technologies, the trusted provider of application protection solutions, announced today its eighth consecutive year of positive growth and company performance. Projecting 30% increase in subscription bookings in 2018 and experiencing 21% year over year growth in monthly recurring revenue (MRR), the company continues to expand its global reach, counting many of the world's top financial institutions and technology firms among its customers. As the demand for comprehensive, multi-layer application protection surges, Arxan is experiencing persistent overall revenue growth and consistent renewal rates that exceed industry benchmarks.
"We're successfully driving new customer acquisition in key verticals worldwide. At the same time, our existing customers not only continue to renew at exceptional rates, but also they are expanding their relationships with us," says Joe Sander, CEO, Arxan. "It is a testament to the tremendous value we provide. It's also validation that our multi-layer application protection platform — including integrated threat analytics — is the smartest approach to securing your complex application ecosystem."
- Eighth consecutive year of positive growth and projecting 30% year over year increase in subscription bookings in 2018
- Net Promoter Score (NPS) of 70%, far exceeding the IT & Software average NPS of 41%
- 90% customer retention rate, exceeding IT & Software average benchmark of 77%
- Continued leadership in key industries with year of year account growth of 86% in Financial Services and 80% in High Tech
- Currently protecting 4 of the world's top 10 game makers, 4 of the top 10 automobile manufacturers, 3 of the 5 top banks in Europe, as well as leading mobile banking companies in South America and Africa
- Opened new research and development center in Vilnius, Lithuania, with plans to hire up to forty highly skilled developers and testers in the next two years
- Expanded global partnerships in key markets, in particular the U.S., Israel, Brazil, Malaysia, Japan and South Korea
Innovation and Leadership
- Launched Arxan Threat Analytics, the industry's first "closed-loop" process that allows business owners to understand on day one who, how and from where applications are being attacked -- recognized as one of the hottest new products at RSA Conference 2018
- Enhanced Arxan for Android with the first app protection capability for the rapidly growing Kotlin development language
- The first application security solution to receive ISO 13485 certification, an internationally recognized quality management system standard for medical devices
- Former Microsoft Online Chief Technology Officer, Alexander Gounares, joined board of directors
- Hired Charlie Velasquez as Chief Financial Officer, formerly of Fortinet and Cisco Systems
Arxan anticipates ongoing growth with the addition of new global clients, a continued renewal rate exceeding industry benchmark, and the company's state-of-the-art solutions that have proven to consistently provide comprehensive application protection and unmatched customer support.
About Arxan Technologies
Arxan, a global trusted leader providing the industry's most comprehensive application protection solutions, works with organizations looking to protect applications and to securely deploy and manage business-critical apps to the extended enterprise. Arxan currently protects more than one billion application instances across many industries including financial services, mobile payments, healthcare, automotive, gaming, and entertainment. Unlike legacy security providers that rely on perimeter-based barriers to keep bad actors out or that require device management controls, Arxan products protect at the application-level from the inside out. This approach protects the source and binary code to expand the corporate perimeter of trust. Arxan provides a broad range of patented security capabilities such as a dynamic app policy engine, code hardening, obfuscation, white-box cryptography and encryption, and threat analytics. Founded in 2001, Arxan is headquartered in North America with global offices in EMEA and APAC. For more information, please visit www.arxan.com or follow @Arxan on Twitter.
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