ThreatX announced the hiring of Chief Financial Officer Libby Merrill, CPA. Libby joins the company as it enters 2022 with significant business momentum, including dramatic growth in both revenue and customer base, as well as technical accolades.
“In 2022, ThreatX will seize the API security opportunity in front of us,” said Gene Fay, CEO of ThreatX. “With the addition of Libby to our leadership team, I am confident that ThreatX will continue advancing our market position. Libby’s impressive background will enable ThreatX to find even greater success in the year to come.”
“I am thrilled to join ThreatX at such a pivotal time in its growth,” said Merrill. “ThreatX is filling a clear need in the industry to find new and innovative ways to protect APIs from increasingly sophisticated threats. I am excited to work with a company that is making a real difference for our customers and I look forward to all that we will accomplish together.”
Merrill’s more than 15 years of financial and operational management experience will enable ThreatX to continue its momentum in the new year. She joins the company after leading Internal Audit at GCP Applied Technologies, a billion-dollar global provider of construction technologies. Prior to GCP Applied Technologies, Merrill served as Managing Director at CFGI, LLC, a leading finance advisory firm.
Business and market advancement fuels ThreatX for 2022
In addition to Merrill joining the ThreatX executive team, the company enters 2022 with strong performance on additional fronts. Company growth was spurred on by ThreatX’s ability to help security teams defend against attackers intent on exploiting traditionally vulnerable APIs and web applications.
ThreatX results illustrate a critical need for the company’s API security protection capabilities. Key metrics include:
- Annual recurring revenue nearly doubled in FY 2021 over FY 2020
- ThreatX’s global customer base grew by more than 140%
- The company’s employee base increased by more than 100% in 2021
Beyond achieving these key metrics, ThreatX saw other significant milestones and accolades in 2021, specifically:
- Named a “Visionary” in the Gartner Magic Quadrant for Web Application and API Protection (WAAP)
- Selected “Best Product in Web Application Security” in Cyber Defense Magazine’s 2021 Global CDM Awards
- Achieved a Gartner Peer Insights ranking of 4.9 out of 5 stars
- Closed a $10 million funding round led by .406 Ventures; .406 Ventures partner Greg Dracon joined the company’s board of directors
- Named Tom Axbey as an independent board member
- Appointed Dave Howell as Chief Marketing Officer
- Expanded U.S. operations by establishing a headquarters in Boston
- In Q4 2021, processed 68.2 billion requests; blocked 580 million risky requests; and identified and tracked 4.1 million risky entities (potential threat actors). In addition, on average ThreatX blocked a potential attack every two seconds.