DFLabs Doubles Revenues, Raises Additional Financing and Expands Footprint in US and EMEA in 2017
BOSTON and MILAN -- DFLabs, the pioneer in Security Automation and Orchestration, today announced it has increased its total funding to $9M from existing investor Evolution Equity Partners and that it doubled revenues in 2017. The company also expanded operations in the US and Europe to capitalize on accelerating demand among Fortune 500 and Global 2000 enterprises, government agencies, law enforcement and intelligence agencies that want to contain and limit cyber breaches using its IncMan security automation and orchestration platform.
According to Gartner, Inc.: "The challenges from an increasingly hostile threat landscape, combined with a lack of people, expertise and budget are driving organizations toward security orchestration, automation and response (SOAR) technologies." The report further states, "By year-end 2020, 15% of organizations with a security team larger than five people will leverage SOAR tools for orchestration and automation reasons, up from less than 1% today."
"2017 was our best year to date on all fronts, revenue bookings, customer acquisition and fund raising," said Dario Forte, CEO of DFLabs. "Recent high profile data breaches have forced organizations to recognize that prevention is no longer sufficient, they also need automated capabilities to quickly respond to and neutralize security incidents. This additional financing from Evolution Equity Partners will enable us to invest in the resources we need to keep up with market demand for IncMan around the world."
DFLabs pioneered intelligence-driven security monitoring, automation and orchestration that uses machine learning and rapid response runbook capabilities. DFLabs IncMan is the only platform capable of full incident lifecycle automation that includes built-in, automated threat intelligence gathering, risk assessment, triage and notification, context enrichment, hunting and investigating, and threat containment.
DFLabs achieved the following results and milestones for the year ended Dec. 31:
- Increased revenue bookings by 100%
- More than doubled its pipeline
- Signed multiple new enterprise clients, including Fortune 500, Government and Global 2000 organizations
- Grew sales, marketing and engineering teams by 100%
- Expanded operations in the US/Boston and UK/London
- Average customers reduced their incident resolution times by up to 90%
- Typical customers increased incident handling by 300%
DFLabs is a recognized global leader in security automation and orchestration technology. The company's management team has helped shape the cyber security industry, which includes co-editing several industry standards such as ISO 27043 and ISO 30121. Its flagship product, IncMan, has been adopted by Fortune 500 and Global 2000 organizations worldwide. DFLabs has operations in Europe, North America, and EMEA. For more information, visit www.dflabs.com or connect with us on Twitter @DFLabs.