ObserveIT announced growth and product innovation, reflecting increasing global demand for ObserveIT’s insider threat management solution. The company unveiled the latest version of its solution, ObserveIT 7.6, and experienced the largest bookings quarter in the company’s history, with a 80% increase in bookings over the last 15 months, several sizable customer wins and industry accolades.
Milestones achieved during Q3 include a $33 million Series B funding round, four deals over $1 million with Fortune 500 brands, and the appointment of NightDragon Security Founder Dave DeWalt as vice chairman of the board of directors.
ObserveIT 7.6 includes the addition of FAM (File Activity Monitoring), a solution for data exfiltration detection and prevention. FAM detects suspicious data exfiltration attempts by providing visibility into any file sent via web, email, social media and cloud storage with a single user mode agent.
Further, FAM provides context of user interactions with files such as rename, copy, delete and move from start to finish.
Other new features within ObserveIT 7.6 include a timeline view of all user and file activity across all platforms such as Windows, Mac, Linux and virtualized environments such as Citrix to decrease time to investigate security incidents.
This release enhances ObserveIT’s reporting and anonymization capabilities to comply with GDPR compliance.
Milestones achieved by ObserveIT in Q3 2018 include:
- Completed the largest bookings quarter in company history, with an 80% increase in bookings over the last 15 months,
- Surpassed 1,800 customers, including the addition of:
A top five global financial services company
A top global hedge fund
A top global defense contracting company,
- Achieved record growth in ObserveIT subscription bookings, with a 450% increase in year-over-year subscription deal growth.
“The addition of File Activity Monitoring to ObserveIT 7.6 allows security teams across the globe to easily detect and prevent data exfiltration attempts, providing yet another layer of protection to our holistic insider threat management solution,” said ObserveIT CEO Mike McKee.
“We’re thrilled to close out another quarter with a growing customer roster, cutting-edge product updates and industry validation that confirms our unmatched, one-of-a-kind service and position as the insider threat management solution of choice for major brands across the globe.”