Cylance Propelled to $100m Revenue Mark

1 min read Cybersecurity
Cylance has surpassed $100M in trailing 12-month GAAP revenue in 2017. This represents 177 percent year-over-year growth, partly due to the support of their 3800 enterprise customers.

The milestone took Cylance only 39 months to reach from the moment it first shipped its flagship product, CylancePROTECT.

The below graph illustrates Cylance’s growth rate compared to a selection of other publicly traded technology companies and the time they took to reach $100M in annual revenues, measuring from the time the first product shipped.

Customers have replaced numerous layers of security at the endpoint including legacy anti-virus with Cylance, which is based on three core capabilities:

•CylancePROTECT prevents breaches and defeats new “zero-day” attacks

•CylanceOPTICS is the only prevention-driven EDR solution to combat unknown attacks

•The Cylance Platform transforms security from reactive to preventive

“After we switched from our legacy anti-virus solution and started using Cylance, we could reduce the workload on our security team, considerably,” said Stephen Frank, of the National Hockey League Players Association. “We used to require three people to manage the old solution and, since moving to Cylance, we can have just one person spending half of his day managing our endpoint protection. The best part is that we almost forget that it’s even working in the background – we just know Cylance is there, protecting our endpoints silently and efficiently.” Resource and cost reduction is a common result with Cylance customers after deployment.

“At Cylance, we’ve always encouraged our customers to think beyond legacy solutions, to reduce complexity and lower security costs,” said Stuart McClure, Chairman and CEO of Cylance. “Our customers have been living the promise that prevention is possible, despite industry experts who espouse the opposite, with their experiences with WannaCry/Petya and countless other zero-day malware attacks. Unlike every one of our competitors, Cylance blocked every single major campaign in 2017 with a completely AI-based approach that reduces layers, removes clutter and user friction, and provides silent prevention to the endpoint.”

“New entrants are gaining traction. Multiple new vendors have emerged in the endpoint security space in the last few years. These new solutions are typically more effective and less of a burden on system resources,” said Chris Sherman, Sr. Analyst from Forrester Research, “We believe that market growth will be driven by these new players as they expand their sales teams and get the word out to potential clients. We expect to see the highest growth rate in application integrity protection and endpoint visibility and control (EVC).”