Cloud Data Protection Leader PerspecSys Closes out 2012 With Record Growth & Adoption of Multi-cloud Data Security Gateway

  Cloud Data Protection Leader PerspecSys Closes out 2012 With Record Growth &
  Adoption of Multi-cloud Data Security Gateway

Business Wire

MCLEAN, Va. -- January 3, 2013

PerspecSys Inc., the leader in cloud data protection solutions for the
enterprise, today reported the achievement of 2012 year-end milestones
including record sales, widespread adoption of its multi-cloud gateway
platform and continued strong market momentum leading into 2013.

Last year, the company deployed its Cloud Data Protection Gateway into some of
the most demanding global enterprise IT environments, including the operations
of the world’s largest multinational conglomerate corporation and two of the
largest global financial institutions. The company’s broad-based customer
growth among highly complex, regulated organizations underscores the success
of its multi-cloud platform approach, which gives enterprise customers the
data security they need across a wide variety of cloud applications through a
single gateway solution that delivers the strongest levels of security while
preserving cloud-application functionality. Security solutions like PerspecSys
are part of a rapidly growing category that Gartner refers to as Cloud Access
Security Brokers, forecasted to have adoption rates of up to 25 percent among
enterprises by 2016.

Product Development

In addition to client growth, PerspecSys advanced product development by
broadening support for a series of cloud applications, expanding its market
opportunity to include enterprise users of those services. On top of dozens of
new product features, PerspecSys also pioneered an open “pluggable” encryption
solution to ensure an enterprise’s preferred or legacy encryption modules can
be used within the PerspecSys gateway to protect data being used in its cloud
applications (including those that are FIPS 140-2 validated) without impacting
the end users experience with their cloud applications.

Patents, Partnerships, Testing & Global Expansion

PerspecSys initiated and broadened significant new technology, delivery and
sales partnerships in 2012, extending its ecosystem in a number of important
areas to support client needs. Other notable milestones included independent
third-party testing and validation for PerspecSys’ entire platform, including
its industry-first cloud data tokenization approach, expanded operations in
the U.S., Europe and Asia, filing for multiple patents for its innovative
technology solution and winning several respected industry awards for its
superior cloud data protection solution.

“Cloud data security continues to be one of the top priorities for businesses
worldwide, yet there is still so much confusion about what’s really important
when it comes to how to protect your most sensitive information,” said David
Canellos, CEO, PerspecSys. “At PerspecSys, we make it simple by offering a
solution that addresses not only data privacy, residency, and compliance
concerns but also the preservation of cloud application functionality across a
variety of popular applications. We are the only company to deliver such a
complete solution, the only one to offer the strongest levels of tokenization
and encryption available, and the only one to offer true multi-cloud support
that preserves the greatest amount of application functionality. Thanks to
this unique combination and the scalability of our platform, enterprise IT and
Security teams consistently select us over competitors as the smartest choice
for safeguarding their sensitive enterprise information as they make their
move to the cloud.”

2012 Highlights in Brief

Increased Customer Base

PerspecSys has added and retained a record number of clients across the
healthcare and medical, manufacturing, defense, public sector, retail,
insurance and financial services sectors, contributing to its strong financial
and operational growth. When selecting PerspecSys, customers highlighted a
number of unique benefits of its gateway versus alternatives in the market,
including:

  *Unmatched ability to preserve cloud application functionality, such as
    searching, sorting, emailing, reporting, etc.;
  *Not requiring weakened encryption or tokenization techniques be used in
    order to maintain application usability;
  *The ability to offer a robust tokenization approach as a data security
    alternative to encryption (a unique capability particularly important
    where data residency regulations are in place);
  *Deep partnerships with leading companies in the cloud computing, security
    and datacenter ecosystem that has produced an open platform, highly
    scalable and enterprise ready, and multi-cloud capable.; and
  *The endorsements from the PerspecSys customer base, validation from
    industry research analysts, third-party assessors and leading companies in
    the partner community aligning with PerspecSys.

PerspecSys experienced customer growth across the globe, with significant
traction in the Americas, Europe, and Asia Pacific regions.

Expanded Management & Engineering Team

PerspecSys tripled the number of employees in 2013, and hired industry
veterans and innovators in sales, marketing, engineering and R&D positions
throughout all levels of the organization. New additions to the executive team
during the year included:

  *Mike Morrissey, vice president of engineering and research & development
  *John Emerson, vice president, sales
  *Gerry Grealish, vice president, marketing & products
  *LJ Alefantis, area vice president sales
  *Eric Hay, senior director, systems engineering
  *Ed Dean, senior director, technology
  *David Stott, senior director, product management
  *Dave Vogel, senior director of business development

Added New Partners, Broadened Solution Support and Achieved Interoperability

The company added support for a series of new cloud applications during the
year, such as Oracle’s CRM On Demand, Marketing On Demand, and Fusion CRM
products, Salesforce.com’s Chatter social collaboration application, Xactly
Incent and AppExtreme’s Conga Composer. PerspecSys also collaborated with
leading security firms, including Symantec and Ping Identity, to develop
seamless interoperability between PerspecSys’ gateway and the industry’s
leading Single-Sign-On (SSO) offerings. Additional security partnerships were
forged with encryption leaders SafeNet and Voltage Security to offer solutions
to the market leveraging PerspecSys’ gateway together with their advanced
cryptographic engines. Finally, partnerships were also penned with some of the
world’s most influential IT cloud services companies such as Amazon, Fujitsu,
and Computer Sciences Corporation (CSC).

Industry Recognition

PerspecSys continued to win accolades from the industry for its innovations in
cloud security, garnering prizes from the Golden Bridge Awards, the Cloud
Computing Excellence Awards and the International Stevie Awards. The company
was also highlighted in a number of industry analyst reports, including
Gartner’s “The Growing Importance of Cloud Security Access Brokers.”
PerspecSys executives were sought-after experts in 2012, having been invited
to speak or exhibit at key events including Oracle Open World, Cloud Expo,
RSA, and other industry events to help educate audiences on the myths vs.
realities surrounding cloud data security.

Continued Operational Expansion

In addition to its existing Toronto office, the company opened offices in
London, San Francisco and the Washington, D.C. area during the year. These new
locations allow PerspecSys to better support its clients and partners, and to
leverage the technology innovation coming out of Northern California and the
security sector surrounding the U.S. Capital.

The PerspecSys Cloud Data Protection Gateway

The PerspecSys Cloud Data Protection Gateway gives enterprises and
public-sector organizations total control over their sensitive data – enabling
them to use popular cloud applications from companies like Oracle and
Salesforce.com, while still meeting strict legal and industry compliance
requirements. Using patent-pending technology, the PerspecSys Gateway
intercepts sensitive data while it is still on-premise and replaces it with a
randomly tokenized or strongly encrypted value, rendering it meaningless
should anyone hack the data while it is in transit, processed or stored in the
cloud. In addition, the PerspecSys solution offers the differentiated ability
to preserve cloud application functionality – even when the data is tokenized
or strongly encrypted – using National Institute of Standards and Technology
(NIST) listed FIPS 140-2 compliant modules. With PerspecSys, end users have
access to features and functions such as ability to do standard and complex
searches on data, send emails, and generate reports – even though the
sensitive data is no longer in the cloud application.

About PerspecSys

PerspecSys Inc. is a provider of cloud data protection solutions that enable
mission-critical cloud applications to be adopted throughout the enterprise.
PerspecSys removes the technical, legal and financial risks of placing
sensitive company data in the cloud. The company accomplishes this for many
large, heavily regulated companies across the world by never allowing
sensitive data to leave a customer’s network, while maintaining the
functionality of cloud applications. Based in Toronto, PerspecSys Inc. is a
privately held company backed by leading investors including Intel Capital and
GrowthWorks. For more information on PerspecSys, please visit
www.perspecsys.com or follow on Twitter @perspecsys.

Contact:

Racepoint Group
Brittany M. Falconer, 617-624-3200
perspecsys@racepointgroup.com
 
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