Fueled by 2020’s accelerated pace of industrial digitization, the company’s market share hit 50% in key industrial verticals
SAN FRANCISCO, February 1, 2021 — Nozomi Networks Inc., the leader in OT and IoT security, today announced record 2020 growth and tremendous momentum moving into 2021. As industrial and critical infrastructure cybersecurity threats made operational resilience a top priority for large enterprises around the world, the company experienced 110% growth in annual recurring revenue (ARR) and doubled its customer base with a 90% increase in new customer revenues. The COVID-19 pandemic has accelerated digital transformation, sped industrial connectivity and driven requirements to support remote work. In response, large enterprises turned to Nozomi Networks to implement projects to secure their operations and address emerging threats to the supply chain.
In 2020 Nozomi Networks’ market share neared 50% among the world’s top pharmaceutical, oil and gas, electric utility and mining operations. The number of devices monitored by Nozomi Networks solutions skyrocketed by more than 5,000% as the company successfully expanded its market to include IoT network cybersecurity. Continuing its commitment to innovation, the company launched Vantage, the first SaaS-based OT and IoT network visibility and security solution.
“While our growth is truly extraordinary given the challenges of 2020, what makes the Nozomi team most proud is how we helped customers survive and thrive this past year,” said Nozomi Networks CEO Edgard Capdevielle. “As pharmaceutical companies raced for a vaccine, they knew that cybersecurity for their research, manufacturing and remote workers was essential. They turned to Nozomi Networks for help and we delivered. In other industries from automotive to advanced manufacturing, to transportation systems, energy companies and smart cities, Nozomi won new customers and grew our deployments with existing clients. Multimillion-dollar deals are now the norm.”
According to Gartner Research, operational resilience is the top priority for security professionals, and organizations are looking to converge all their security and safety disciplines to support this renewed focus. “Advances in cloud and edge computing, robotics, embedded software, artificial intelligence (AI) or the emergence of 5G technology are all opening new digital transformation frontiers, but also new security and safety challenges that straddle the cyber and physical worlds in operational or mission-critical environments.”*
Nozomi Networks responded early with AI-powered network visibility and security solutions that integrate and work across IT, OT, edge, and cloud environments. Vantage, the company’s recently announced SaaS-based offering, and subscription pricing options across the company’s entire product portfolio, make it possible for customers to leverage cloud-based industrial cybersecurity that enables them to scale quickly while minimizing complexity and cost.
“While our deployment teams brought thousands of sites online, our engineers paved the way for the future with the introduction of Vantage, our cloud-based SaaS offering,” said Andrea Carcano, Nozomi Networks Co-founder and CPO. “Now customers can get Nozomi Networks’ industry leading security and visibility solutions via the cloud, which enables them to scale quickly while minimizing complexity and cost. Although 2020 was both challenging and extraordinary, 2021 will be even more exciting as customers use our innovations to speed the path to a modern and digitally transformed world.”
2020 growth highlights include:
Strategic Partner and Customer Investments
*Gartner Research, Market Guide for Operational Technology Security, 13 January 2021.
Nozomi Networks protects the world’s critical infrastructure from cyber threats. Our platform uniquely combines network and endpoint visibility, threat detection, and AI-powered analysis for faster, more effective incident response. Customers rely on us to minimize risk and complexity while maximizing operational resilience. www.nozominetworks.com