Xceedium Seeing Big Growth Targeting Bad Guys
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Posting your job title and company on LinkedIn is making you vulnerable to cyberattack, says Xceedium CEO Glenn Hazard. Hackers commonly target people likely to have elevated credentials and network access. And every time there’s a high-profile security breach like Anthem, Home Depot and Target, using stolen credentials, his 70-person privileged identity management company sees a boost. The Xsuite product prevents attackers from being able to access a network, whether virtualized or traditional, by securing and monitoring organizations' most critical accounts, which usually belong to systems engineers, senior management or even people at partner organizations with high-level access (think Edward Snowden).
The Herndon-based company, whose customers are 40% federal and 60% commercial, was launched in 2005 and has seen 82% growth between this year’s Q1 and Q1 2014. This topped its previous year’s growth of 70%. Glenn says the growth forecast for this year is 75%, nearly doubling its revenue. Growth is coming from industries that are heavily regulated and have certain compliance requirements like financial services, healthcare and retail. The visibility of these cyberattacks has risen so dramatically that now company board members are questioning why security measures weren’t in place before attacks.