ObserveIT has Record Year, Expands Executive Team to Meet Product Demand

TEL AVIV, Israel, February 8, 2017 /PRNewswire/ --

Company reaches new milestones in revenue, customer acquisition and partner growth; Adds seasoned executives to team to support growth and market leadership

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ObserveIT, the leading insider threat monitoring and analytics solution provider with more than 1,400 customers around the world, today announced it achieved new business milestones in 2016, setting the stage for continued success in the year ahead. Record sales of the company's innovative cybersecurity solution, which identifies and eliminates risk created by the negligent or malicious activities of privileged users, contractors, vendors and business users, have led to the expansion of ObserveIT's executive team, including the arrival of four seasoned leaders helping the company as it expands to meet market demand.

Milestones achieved in 2016 include:  

• Record revenue, and an impressive CAGR of 40% every year over the last 8 years
• Surpassed 1,400 customers worldwide
• Customer renewal rate above 90%
• Average deal size highest in history
• Expansion to 280 partners worldwide
• Global sales footprint with 60% of revenue from outside of the United States

ObserveIT's appointment of a new board member and three new senior executives will further the company's rapid growth worldwide. The new leaders include (to read their biographies, visit here):

• Director Deepak Taneja is a prominent security industry leader and entrepreneur, the founder of Aveksa and the CTO and founding team member of Netegrity.
• Vice President of International Sales and Marketing Simon Darr brings 20 years of leadership and experience to ObserveIT's international efforts.
• Vice President of Marketing Erica Sheehan adds more than 17 years of senior-level marketing experience with leading technology organizations.
• Vice President of Americas Sales John Vigeant brings 15 years of executive leadership to ObserveIT.

"2016 was a record year for ObserveIT. Thanks to our ObserveIT team and channel partners around the world, we shattered previous records for revenue, customer acquisition and partner program success. Demand for our Insider Threat Monitoring and Analytics solution is at an all-time high," said ObserveIT CEO Mike McKee. "We are doubling-down on our success by expanding our senior management team. Their skills, coupled with the talents of our workforce and loyal partners worldwide, put us on course to make 2017 another historic year."

ObserveIT  

ObserveIT is the leading Insider Threat Monitoring and Analytics Solution with more than 1,400 customers across 87 countries. For more information visit: http://www.observeit.com.

ObserveIT Media Contact:
Kim Haimovic
kim@observeit.com
+972-3-6480614