Webroot, a leader in cybersecurity solutions, announced 11 percent year-over-year annual recurring revenue growth for the first quarter of its 2018 fiscal year, which ended September 30, 2017. Webroot’s year-over-year annual recurring revenue for Q1 2018 grew by 28 percent in its business segment, while the consumer segment grew by 4 percent.
Webroot’s business segment growth is more than 2.5 times the projections for the business security software market in 2017, estimated to grow 10 percent year over year by IDC’s Worldwide Semiannual Security Spending Guide.
In the consumer segment, Webroot grew at 2.6 times the pace of the worldwide security spending in the consumer security software segment, which according to Gartner’s Forecast: Information Security, Worldwide, 2015-2021, 3Q17 Update report published November 2017, is estimated at 1.5 percent CAGR 2016-2021.
In addition to this revenue growth, Webroot’s Board of Directors announced in September the appointment of technology industry veteran Mike Potts as Chief Executive Officer and member of the Board. Prior to accepting the post, Potts served as an integration executive in the security business group at Cisco after its 2015 acquisition of Lancope, where he was president and CEO.
Key Q1 2018 Highlights:
- Webroot added nearly 1,000 managed service providers (MSPs) in Q1 fiscal year 2018, bringing its total of MSP partners to over 10,200. Charity Channel Advisors named Webroot the number one endpoint protection provider to MSPs with 30 percent market share.
- The company increased the number of businesses it protects by 30,000 this quarter. In total, Webroot protects more than 240,000 businesses worldwide.
- Webroot acquired the assets of Securecast, a security awareness training platform and launched Webroot Security Awareness Training to give MSPs and businesses a solution to reduce the risks and costs of phishing, ransomware, and other cyber threats with end-user education.
- Webroot launched its Webroot Certification Program that enables the sales and technical teams at MSPs, VARs, and other distribution partners to better sell and support Webroot SecureAnywhere® Business Endpoint Protection.
- The company announced the general availability of its new solution, BrightCloud® Streaming Malware Detection. Webroot drew upon more than ten years of machine learning expertise to create the solution, which identifies more than 90 percent of zero-day, polymorphic, and traditional malware within milliseconds, according to efficacy testing.
- Webroot added ten new embedded technology partners in Q1, each leveraging the company’s BrightCloud© Threat Intelligence Services to give their customers the best protection against emerging cyber threats.
- This includes a new partnership with Array Networks, Inc., which will integrate BrightCloud® Web Classification service into its application delivery controllers (ADC).
- Webroot won ChannelPro Network’s 2017 Readers’ Choice Award for Best Endpoint Security. ChannelPro Network’s readers are IT consultants, MSPs, and other professionals who serve the IT needs of small- and medium-sized businesses.
- Webroot customer service continues to stand out among its peers, having been honored with a Golden Bridge Award for Customer Service Department of the Year in the security software category. The team also won the Best Customer Service category at the SC Awards in February, as well as the Most Customer-Friendly Company of the Year distinction at the Best in Biz Awards in December of 2016.
- Webroot won the Overall Network Security Solution of the Year in the CyberSecurity Breakthrough Awards.
Mike Potts, President and CEO of Webroot
“The first quarter of 2018 saw us continue our track record of strong execution, while we also expanded our addressable market with innovative new products. In particular, our new Webroot Security Awareness Training and extended capabilities in our DNS Protection solution allow us to offer even more value to MSPs and small businesses who already trust us as their number one endpoint security provider. We will continue to build on this layered approach to cybersecurity as the best method to protect against an ever-growing number of threat vectors.”
Webroot delivers endpoint security, network security and threat intelligence services to protect businesses and individuals around the globe. Our smarter approach harnesses the power of cloud-based collective threat intelligence derived from millions of real-world devices to stop threats in real time and help secure the connected world. Our award-winning SecureAnywhere® endpoint solutions, BrightCloud® Threat Intelligence Services, and FlowScape© solution protect millions of devices across businesses, home users, and the Internet of Things. Webroot is trusted and integrated by market-leading companies, including Cisco, F5 Networks, Aruba, Palo Alto Networks, A10 Networks, and more. Headquartered in Colorado, Webroot operates globally across North America, Europe, and Asia. Discover Smarter Cybersecurity© solutions at www.webroot.com.