This quote introduces the latest security software sector update from Truist Securities, a leading global investment firm. Analysts examined the vendor landscape based on hundreds of conversations with public and private companies, experts, VARS, and, most importantly, customers. While the paper starts with a bleak statement, the research highlights companies that are illuminating a new path forward for cybersecurity.
Defending against a new age of cyberthreats
After nearly 20 years in the cybersecurity industry, I’ve seen network threats and vulnerabilities grow from local to a global scale – and modest to critical in impact. Due in part to digital transformation, cloud migration, and IT/OT convergence, today’s security professionals face the most complex, sophisticated threats ever seen in the digital age.
With our Security Posture Management Platform, Skybox has become a trusted partner to over 500 of the world’s most security-conscious companies. We provide visibility into threats that lie within their fragmented hybrid networks, security controls, and change management processes. And we deliver the insights they need to choose the most optimal remediation strategy. With Skybox, our customers can focus on the most strategic business initiatives while ensuring their business remains protected.
Many people in the industry said we couldn’t achieve what we set out to do – that it wasn’t possible. We have proven them wrong. In the same way Google Maps allows users to understand their terrain, location, and how to interpret traffic lights, we are helping large companies make sense of their complex, modern infrastructure. Our mission is to provide CISOs, CIOs, and their teams with the intelligence and context to make informed security decisions. We are honored to be recognized as a near-term disruptor with the size and scale to become the market winner in our space.
Learn more about our Security Posture Management Platform
Excerpts from the 2021 Truist Securities Security Software Sector Update
Truist Securities Top 30: Key Private Companies
There are a plethora of private security companies (over 3,000 by our latest count) in all shapes and sizes. This report focuses on the private companies we deem as potential near-term disruptors with the size and scale to potentially become market winners in their respective spaces. They have been selected based on a variety of criteria, including market positioning, targeted market, product offering, customer base, and management. In this continually evolving environment, we believe investors should keep these select companies on their radar screens, as they have the potential to gain an increasing presence in the marketplace.
Public companies simply have trouble innovating at the same rate as private ones. We think most, but not all, of the innovation in the security industry will continue to be driven by a handful of private vendors. We have highlighted the respective private companies we deem as potential near-term disruptors with the size and scale to potentially become market winners in their respective spaces. We see the current juncture as a major market share opportunity for emerging vendors that are helping companies to mitigate current and future threat dynamics.
The following private company profiles are based on company commentary and publicly available information.
Skybox Security is a leader in security posture management. Their vendor-agnostic security posture management platform delivers visibility, analytics and automation to map, prioritize and remediate vulnerabilities across the organization. The platform intelligently optimizes security policies, actions and change processes across all corporate networks and cloud environments. Skybox Security recently announced it achieved 58% growth in new logo bookings and increased enterprise adoption of its Security Posture Management Platform. A record number of customers expanded to seven- figure investments in Skybox solutions, with more than 20% growth on a year-over-year basis. Skybox built the only platform with an integrated, holistic view and analysis of complete hybrid infrastructure in one solution – including physical networks, data centers, and private and public cloud – with all the corresponding security solutions for complex environments (firewalls, VPN’s, micro-segmentation, SASE, IPS, and much more) in both IT and operational technology (OT) environments.
The company offers a diverse set of security tools that span network firewall, vulnerability management, cloud security, OT security, and more. Their software ecosystem also includes technology partnerships with over 140 different software providers.
Skybox Security Posture Management Platform business benefits:
- Intelligently minimize threat exposure and compliance risk across hybrid infrastructure.
- Achieve greater operational efficiencies and scale across IT and security.
- Make informed decisions on future security strategies and programs.
- Free up scarce resources and valuable talent to focus on strategic security initiatives.