SAN JOSE, CA – July 12, 2005 – Skybox® Security, Inc., the leader in Security Risk Management (SRM), today announced that leading market analyst Yankee Group has confirmed the need for pure play security risk management solutions in its June 9, 2005 report titled, “Enterprises Need Security’s M&Ms: Measurement and Monitoring” for CSOs, CTOs, CIOs and IT directors. In this report, Yankee names Skybox Security as one of only a few pure risk management vendors and a technology innovator. Yankee also predicts high growth for the Enterprise Risk Management (ERM) software market in the next five years growing to $400 million by 2008, bolstered by a closely related compliance management market.
“Skybox is a technology innovator and has referenced customers using its risk calculations to make high-value decisions on network connectivity and associated firewall and router configurations. This type of product is a huge step forward in aligning the technical decisions with business needs and creating a continuous examination of risks, not just a snapshot,” writes Zeus Kerravala
Yankee Group defines a risk management solution as a system that supports the ongoing process of collecting and analyzing assets and associated risk, control and vulnerability data solely for the purpose of security decision-making. Most organizations have informal risk management processes that are heavily supported with professional services and homegrown spreadsheet or database tools – and are now looking for measurable, repeatable and predictable technology solutions.
“Yankee is at the forefront of defining the emerging risk management market and its potential to transform security into a business process that can measure return on investment (ROI), reduction of risk (ROR) and audit compliance,” said Gidi Cohen, chief strategy officer for Skybox Security.
This report mirrors the need for IT SRM that Skybox has observed through more than 40 successful deployments of Skybox View within Global 2000 companies in the last year. IT SRM solutions like Skybox View have broad appeal across many industry sectors including financial services, utilities, technology, telecommunications, freight and shipping, hospitality, entertainment and health care as well federal government and defense agencies. These organizations are turning to IT SRM solutions as the missing piece required to implement proactive security best practices and to take a more disciplined approach to maximize and measure security ROI.
About Skybox Security
Skybox® Security, Inc. is the leader of next-generation Security Risk Management (SRM) solutions. The company’s flagship product, Skybox® View, is the first enterprise software platform that raises vulnerability assessment, threat analysis, remediation planning and change management to the business risk level where it belongs. By combining business impact analysis and simulation with vulnerability data and network modeling, enterprises can continuously maintain risk-resilient networks, reduce regulatory compliance exposures and shrink the window of exposure from months to hours. With Skybox View, security professionals can take a disciplined approach to measure business risk exposure, understand effectiveness of remediation alternatives, justify mitigation efforts (ROI) and minimize damage from attacks while lowering operating cost. By enhancing current best practices and internal controls with automated risk management analysis, the security, network and business units can work more effectively as a team. Skybox solutions have been successfully deployed at highly respected Global 2000 companies worldwide.
Founded in 2002, the company is headquartered in San Jose, California and is backed by Benchmark Capital, Lightspeed Venture Partners, Carmel Ventures and Mofet Technology Fund. For more information visit http://www.skyboxsecurity.com