2006 – a good year for Cyber-Ark

According to Cyber-Ark, 2006 marked a year of tremendous prosperity and growth in the emerging Privileged Password Management (PPM) market as regulatory compliance, along with a slew of highly publicized network breaches, are finally forcing enterprises to prove the security of their administrative or privileged passwords. Cyber-Ark highlights from 2006 include the industry’s first PPM survey of IT professionals, the release of Enterprise Password Vaultâ„? (EPV) 4.0, the addition of more than 100 customers worldwide, new corporate and European headquarters as well as a number of prestigious industry award recognitions.

“Our remarkable success over the past year shows that customers around the world choose Cyber-Ark as their technology of choice for Privileged Password Management,” said Udi Mokady, Founder, President and CEO of Cyber-Ark Software. “This company is built on technology excellence and determination. While others are releasing first-generation point solutions to address the privileged password problem, we’ve long recognized the security and compliance threat of mismanaged privileged accounts and have eliminated the problem with the release of our fourth generation EPV product.”

Cyber-Ark has garnered significant recognition within the analyst and press, including:

·          “Cyber-Ark is fulfilling a pressing need in the market for the extension of secure identity management solutions” -Sally Hudson, IDC

·          EPV receives an “A” for Effectiveness – Tom Bowers, Information Security Magazine

·          EPV awarded a Four Star Rating – Justin Peltier, SC Magazine

·          “The use of embedded passwords in systems is becoming one of the reasons organizations fail technology audits-¦ Enterprise Password Vault successfully addresses these issues.” – Mark Blowers, The Butler Group

Cyber-Ark saw an enormous upturn in business in 2006, and over the past six months in particular, with a dramatic  increase in its customer base and with revenues increasing three fold. In 2006, Cyber-Ark added more than 100 new enterprise customers in the US and Europe, and is seeing a growing demand for its products in the Asia Pacific region. Companies including Bank of England, PCAOB, Capital One, People’s Energy, Temple-Inland, ConAgra Foods and Sentry Insurance are experiencing an immediate return on investment through their use of EPV.