Aqua Security more than doubles revenue as demand skyrockets
Pure-play cloud native security provider Aqua Security has more than doubled revenue in the past 18 months.
The company says it attributes its recent growth to rapidly increasing demand for an integrated solution that secures cloud native applications from code through runtime. It also reports its $US1 million cloud native protection warranty is driving customer acquisition.
The demand for the company's security solution is driven by a global push to the cloud along with calls from governing bodies to take immediate action to bolster cloud native security.
A recent White House executive order highlights emerging threats to the software supply chain and guidance from both the NSA and CISA recommends secure software development practices that align with the industry-leading capabilities offered in Aqua's cloud native application protection platform (CNAPP).
Aqua secures cloud deployments of more than 500 enterprise customers across 40 countries, with Aqua actively protecting more than 1.5 million workloads around the globe.
"CISOs are looking for a single consolidated and automated platform, and our growth demonstrates that they are turning to Aqua,' says Dror Davidoff, Co-Founder and CEO, Aqua Security.
"They've seen others in the market claim big numbers, but when you look at the details, scanning 'billions' of files is meaningless if you can't stop the attacks in progress," he says.
"That is where Aqua stands above the competition. Not only do we provide visibility into what's happening in your application lifecycle, but we have a single solution for seeing and stopping cloud native attacks in real time at any point from code through production."
When it comes to evolving cloud native attacks, Aqua stays at the forefront of protection thanks to Aqua Nautilus, the world's only dedicated team of cloud native security researchers.
In 2022, Nautilus launched a new vulnerability research team to allow the company to better detect and analyse emerging vulnerabilities and software supply chain security threats—one premier example was the discovery of tens of thousands of secrets exposed by a CI provider.
Using ongoing research, Aqua wrote and implemented over 200 behavioural signatures in its products that directly protect Aqua's customers. Last week, Aqua was recognised for its outstanding products and research contributions and was named Cybersecurity Company the Year.
International and verticalised expansion
The first half of 2022 brought substantial growth in new markets. Aqua launched its cloud native application protection platform in APJ, driving 3X year-over-year growth. The company also continues to expand its presence globally with the recent introductions of SaaS in Europe and SaaS in Korea.
With cloud native security a top priority in the public sector, Aqua experienced a 4X year-over-year revenue growth in its federal division. Additionally, digital transformation across traditional brick-and-mortar industries, such as manufacturing and automotive generated over 3X growth in these verticals.
Financial services organisations also continue to turn to Aqua. Aqua now represents two of the top three largest asset management companies in the world, two of the top five U.S. banks and four of the top five banks in Canada.
Channel and ecosystem success
Following the appointment of seasoned channel and sales leader Jeannette Lee Heung as senior director, global channels and alliances, Aqua underwent a transformation of its channel program. The reimagined Aqua Advantage Ecosystem Program drove explosive growth resulting in the addition of 21 partners, 200% growth in partner pipeline creation and a strong increase in channel revenue.
