Neoteris Secures 150 Enterprise Customers; Instant Virtual Extranet Product Category Accelerates Rapidly
Merrill Lynch and BEA Systems Choose Neoteris IVE, Solidifying the Company’s Leadership Position in the SSL-Based Access Appliance Category
MOUNTAIN VIEW, Calif. – Jan. 15, 2003 – Neoteris, the leading provider of instant virtual extranet (IVE) products, today announced that it has secured 150 paying customers since introducing the IVE appliance product category to the market in November 2001. Merrill Lynch, one of the world’s leading financial management and advisory companies, and BEA Systems, Inc. (Nasdaq: BEAS), the world’s leading application infrastructure software company, have become the latest enterprise-class customers to deploy secure access to internal and external users via the Neoteris IVE. Additionally, Neoteris released market information detailing its rapid growth trajectory over the past year, as well as information on adoption of SSL-based technologies despite the broader technology industry recession.
“Neoteris began with the mission of leveraging the power of the Internet to allow cost-effective, ubiquitous access to enterprise resources without compromising network security,” said Krishna ‘Kittu’ Kolluri, Neoteris president and CEO. “By leveraging SSL (Secure Sockets Layer), we have turned our vision into a reality. Neoteris has developed an outstanding product to satisfy customer demand across industries, despite the economic climate. We look forward to building upon our strong foundation and continuing to bring innovative technologies to market.”
In the fourth quarter of 2001, Neoteris introduced the category of IVE products that leverages the ubiquity of Web security (SSL) to provide controlled access to resources at the application layer. By utilizing the benefits of SSL, Neoteris has created a highly secure, easy-to-use, cost-effective solution. Since then customer demand and industry movements have validated Neoteris’ appliance-based business model, which is proven less expensive and less complex than other managed service methods. According to the META Group, by 2005/06, SSL-based solutions will be a dominant method of remote access, with 80 percent of users utilizing SSL as one of their access mechanisms1.
Zeus Kerravala, Vice President, Enterprise Infrastructure, The Yankee Group, said, “Neoteris understands that to win in this market, you must go beyond simply providing an access solution. Neoteris is delivering rock-solid, secure, scalable access. Because of this Neoteris remains a leader in this rapidly developing market. Additionally, Neoteris’ list of growing customers is evidence of a quality product.”
In addition to companies such as Merrill Lynch and BEA, Neoteris has acquired a growing list of some of the largest enterprise customers from a variety of vertical markets that are realizing significant cost-saving benefits from the IVE secure access platform. Of its 150 revenue customers, 25 percent are Fortune 1000 or Global 500 companies. Cutting-edge hospitals and healthcare organizations are using Neoteris’ IVE to assist with Health Insurance Portability and Accountability Act (HIPAA) compliance, and state and local government organizations have found Neoteris’ solution aids in compliance with federal statutes and initiatives, as well as the shift toward e-Government. Top law firms, media companies, and manufacturers round out the growing Neoteris customer list.
“With Neoteris, Merrill Lynch has a cost-effective, scalable partner extranet solution to give third parties secure access to important information and applications at all times from any location,” said David LaBianca, Vice President, Merrill Lynch Information Security & Privacy. “While our original deployment is for our partner extranet, we see value in extending the IVE deployment to internal users for numerous other applications.”
Neoteris has recently released three differentiated product lines. The Neoteris Access Series* family of products offers a range of enterprise feature and performance scalability options for enterprises with varying access needs, user population sizes, and high-availability requirements. The Neoteris IVE offers the industry’s broadest range of application-layer access functionality, including transparent access to enterprise Web applications with Java applets, dynamic Java scripting and other complex web content; as well as support for file sharing, terminal access to hosted servers, and tunnelling of client-server applications, including native email and messaging applications. Through a comprehensive technology partner program that now includes 13 of the leading authentication and application vendors, Neoteris ensures greater interoperability with the top technology solutions. The products can be purchased through more than 50 resellers worldwide.
Neoteris has grown from 25 employees to approximately 80 in 2002, with offices in Mountain View, Calif.; London; and Hyderabad, India. The company has also won more than 10 awards for technology and business leadership.
Neoteris IVE Secure Access Appliances
The Neoteris Access* Series provides enterprise-class secure access to network resources for remote employees, customers, and partners. Contrary to other access technologies, there is no client software to install because Neoteris leverages Secure Sockets Layer (SSL) for secure, controlled access to resources via any Web browser. The result is a more cost-effective, secure access solution that is easy for customers to deploy and simple for end-users to operate. Neoteris IVE appliances offer application-layer access, stringent access controls, and sophisticated auditing capabilities to further minimize IT headaches and security concerns. The Neoteris IVE has passed rigorous security audits by TruSecure Corporation, Cryptography Research, Inc., and security and forensic computing expert Dan Farmer. The product has also won numerous awards for creating an innovative and compelling access solution, helping enterprises increase efficiency and productivity.
Neoteris, Inc., is the industry leader in the instant virtual extranet (IVE) category of products, delivering revolutionary security appliances that enable instant secure access to network information from any Internet Web browser for employees, customers and corporate partners. Founded in May 2000, Neoteris is a privately held company backed by Jim Clark, New Enterprise Associates, The Barksdale Group and individual investors. The company is headquartered in Mountain View, Calif., and has international offices in London and Hyderabad, India. Go to