Best-of-Breed products drive strong company growth despite pandemic
AUSTIN, Texas, July 22, 2020 — Invicti Security™, a leader in Dynamic Application Security Testing (DAST) and Interactive Application Security Testing (IAST) today announced results for the second quarter of 2020. Invicti is the team behind leading web application security providers Netsparker and Acunetix.
Invicti continued to grow annual recurring revenue (ARR) in excess of 50% year over year during the second quarter, staying on track to achieve another year of ‘Rule of 100’ performance. These strong financial results reflect the underlying strength of Invicti’s product portfolio and success in the market as companies of all sizes around the world seek to improve their web application security posture.
“Despite Covid-19 headwinds, our team delivered another strong quarter of results,” said Invicti Chief Executive Officer Ferruh Mavituna. “Our operations have not missed a beat while working remotely and we have fully supported all of our customers while also onboarding new clients and setting them up for web application security success.”
“We closed our largest-ever deal in company history for the second quarter in a row,” said Invicti CRO Kevin Gallagher. “In addition, over the last 12 months we’ve achieved over 140% net retention in the Enterprise segment, which has now grown to about half our business.”
Notable Q2 Wins
- A Top 10 global bank with a demanding security environment and hybrid deployment model selected Netsparker Enterprise after a competitive evaluation process
- An iconic global footwear and athletic brand selected Acunetix 360 to help bridge the development/security gap across multiple web application development pipelines
- A large U.S. midwestern state selected Acunetix 360 to cross-departmentally deploy web application security best practices with a single tool
- A publicly traded worldwide online payments company selected Acunetix 360 given its flexibility to integrate to other custom-built security solutions
- One branch of the U.S. Armed Forces significantly expanded their use of Acunetix after finding it to be an important and effective tool in protecting mission-critical defense assets
“The massive shift to the cloud over the last decade resulted in the need for Enterprises around the world to assess and manage thousands of web applications and APIs that are outside the protection of their network security investments,” said Invicti President and COO Mark Ralls. “Netsparker and Acunetix are uniquely equipped to help enterprises secure their web application attack surface, as demonstrated by our wins in the marketplace and strong customer adoption and retention.”
Invicti has continued hiring in all geographies and adding headcount since the beginning of the pandemic. The company also expanded its channel partnership program to include several leading software distributors across the globe. This includes SYNNEX Corporation (U.S.), Lidera (Spain and Portugal), Prianto Global (Europe and French-speaking Africa), Alpha Generation (United Kingdom), and brainworks (Germany). Acunetix also released a new feature, Business Logic Recorder, to enable vulnerability scanning deeper into web applications.
About Invicti Security
Based in Austin, Texas, Invicti Security specializes in web application security serving organizations across the world. Invicti was founded in 2018 by bringing together Netsparker and Acunetix, two brands that identify web vulnerabilities to prevent costly data breaches and other security incidents. Netsparker is the only web application security solution that delivers automatic verification of vulnerabilities with its proprietary Proof-Based Scanning™ technology. This best-in-class web application security solution identifies vulnerabilities from the early stages of application development through production. Known for its speed and accuracy, Acunetix is a global web security leader and the first-ever automated web application security scanner. A privately held company, Invicti is backed by Turn/River Capital.