2019 Wrap-Up: Robotic Decision Automation in More Places, Delivering More Value
tags automated decision making, automated decision support, automated decision systems, decision automation software, decision automation systems, rda, robotic decision automation
2018 was a groundbreaking year for us, and 2019 built on that momentum to carry us even further along our path. We’re proud of what we’ve been able to accomplish in 2019, even as we look forward to the new decade.
We ended the year in record style – growing revenue over 2.5x and more than doubling customers. That customer base includes security teams of all sizes across a number of sectors, including financial services, retail, manufacturing, healthcare, and transportation, each defending their enterprise with the power of the Respond Analyst (here’s one story). In addition, 2019 included partnerships with a number of innovative Managed Security Service Providers (MSSPs) and Value-Added Resellers (VARs). Through these partners, the customers who benefit from the Respond Analyst will double again in the first months of 2020. It’s a great start to the new year.
To help us meet demand, we completed an additional $20 million investment round, led by Clearsky Ventures (investors in Cylance, Demisto, amongst others) and inclusive of current investors CRV and Foundation Capital. As part of the investment, Jay Leek, former CISO at Blackstone and managing director for ClearSky Ventures joined Respond Software’s Board of Directors.
Respond also had two senior leaders, Matt Eberhart and Dan Lamorena, join us during 2019 as Vice President of Global Sales and Vice President of Marketing, respectively. Matt and Dan bring a wealth of security market experience and knowledge to the company and are fostering our growing community of robotic decision automation customers.
The year also brought tremendous advances in our product capabilities. The Respond Analyst expanded its skills with new data sources (e.g. web filter/proxy, DHCP, VirusTotal), additional vendor product support (more than 40 new products supported) and more integrations with existing security operations technologies, such as SOAR and cloud-based event repositories, such as Palo Alto Cortex and Google Cloud. These advances further enable the Respond Analyst to perform its unique Integrated Reasoning – the stitching together of observable data to make its judgement of whether security incidents are malicious, actionable and worthy of a response.
Here are a few 2019 stats: the Respond Analyst monitored over 123 billion events across our customer base. In December alone, Respond Analyst doubled the number of monitored events. Our technology investigated, analyzed and grouped all those alerts into 3,350 related security incidents. That’s less than 10 security incidents per day across customers. Our customers tell us how these results free their people from chasing false positives and enables a focus on incidents that truly matter. That’s our mission and we are encouraged by their feedback.
This past year also included the launch of our First Responder Service, a new kind of Managed Detection and Response (MDR) service for customers who want a “concierge” model with the extra comfort to tap senior security analysts for escalated security incidents…at an affordable price.
Following last year’s recognition as a Gartner Cool Vendor, our year was capped off by our selection to TAG Cyber’s Distinguished Vendor list in this year’s 2020 Security Annual. Dr. Edward Amoroso, CEO of TAG Cyber and former CISO AT&T, is an industry icon, so his recognition of our solutions is particularly gratifying. Respond also was recognized by Silicon Valley Business Journal with its prestigious Upstart Tech Award. In addition, luminaries Jim Routh and Brett Wahlin joined as cornerstones of our Advisory Board.
We look forward to all that 2020 will bring. We’ll continue to innovate with features and solutions that address the needs of cybersecurity teams in affordable, easy to implement and expert-level packages. Thanks for all your support.