Forescout Provides Private Company Update
Forescout Technologies reported strong performance in FY20, achieving double-digit year-over-year ARR growth with approximately 70% recurring revenue. The company secured over 300 new customer logos during the pandemic, marking key wins in government, financial services, healthcare, and manufacturing sectors. Forescout was selected as a critical component in the DoD’s 'Comply to Connect' program, enhancing its market position. The management team was strengthened with the addition of industry veterans, signaling a commitment to innovation and growth in the cybersecurity sector.
- Achieved double-digit year-over-year ARR growth.
- Secured ~70% recurring revenue.
- Closed over 300 new customer logos during the pandemic.
- Selected as a key component in the DoD’s 'Comply to Connect' program.
- Strengthened management team with experienced industry leaders.
- None.
Finishes FY20 with double-digit year-over-year ARR growth and ~
Closes over 300 new logo wins during pandemic
Company extends management team with networking and security veteran Kevin O’Leary joining as Chief Product Officer, Brett Kelsey to lead Professional Services and Rob Amezcua to lead Americas Enterprise Sales
SAN JOSE, Calif., Feb. 22, 2021 (GLOBE NEWSWIRE) -- Forescout Technologies, Inc., the leader in Enterprise of Things security, today provided key milestone updates since the company’s privatization in August 2020.
- For the financial year ending December 2020, Forescout added over 300 new customer logos.
- Forescout continues to remain an industry-leader in Net-Promoter Scores (NPS) for both new customers and its install base. Customer success remains a key company focus.
- The company ended FY20 with double-digit year-over-year ARR growth and ~
70% recurring revenue, both strong validators of mission-critical capabilities being delivered to the most important organizations around the globe. - In October 2020, the company was selected as the key component of the DoD’s broad “Comply to Connect” program which will drive adoption of Forescout pervasively within the Department of Defense, a landmark win in our industry.
- Forescout Research Labs announced the discovery of major vulnerabilities in widely used TCP/IP stacks, which serve as the foundational connectivity components of millions of traditional and IoT devices. Forescout continues its commitment to innovation.
- Forescout is committed to open integration with important vendors in the security ecosystem. Recent examples include:
• In November 2020, the company announced that it advanced its leadership in industrial IoT and operational technology (OT) through industry leading partnerships and integrations with Splunk, CrowdStrike and CyberArk to bridge security gaps and strengthen the cyber-physical risk posture across the entire network.
• Earlier this year, Forescout announced an expanded partnership with Arista Networks to accelerate Zero Trust segmentation.
- While streamlining the business for future growth, investment in R&D continues. Forescout’s cloud-based device segmentation solution gained momentum in the company’s customer base and also attracted net-new logos.
Over the last six months, Forescout has built a strong leadership team and has attracted leaders from a diverse set of organizations to galvanize the company for future growth. Today, the company announced that Kevin O’Leary will join Forescout as its Chief Product Officer. O’Leary is a career product and engineering leader, having led significant development efforts at ABB and Symantec. Most recently, he served as vice president of Broadcom’s network security group where he was responsible for all aspects of product management, product strategy and development. The company also announced that Brett Kelsey has joined Forescout to lead Professional Services and Rob Amezcua has joined to lead Americas Enterprise Sales. Prior to joining Forescout, Brett and Rob held senior services and sales roles at Optiv and Broadcom, respectively. These appointments further strengthen Forescout’s management team.
“Since Advent International and Crosspoint Capital Partners took the company private six months ago, we have been purposeful in investing in the talent, organizational structure and processes to build upon Forescout’s leading market position and continue to drive innovation and growth,” said Bryan Taylor, head of Advent’s technology investment team and a Managing Partner in Palo Alto. “I’m thrilled with the progress we have made over a very short period, and I’m excited about the validation of the company’s direction that we’ve seen through customer feedback and wins.”
About Forescout
Forescout Technologies, Inc. actively defends the Enterprise of Things by identifying, segmenting and enforcing compliance of every connected thing. Fortune 1000 companies trust Forescout as it provides the most widely deployed, enterprise-class platform at scale across IT, IoT and OT managed and unmanaged devices. Forescout arms customers with more device intelligence than any other company in the world, allowing organizations across every industry to accurately classify risk, detect anomalies and quickly remediate cyberthreats without disruption of critical business assets. Don’t just see it. Secure it.
The Enterprise of Things – Secured. Learn more at www.forescout.com.
© 2021 Forescout Technologies, Inc. All rights reserved. Forescout Technologies, Inc. is a Delaware corporation. A list of our trademarks and patents can be found at https://www.forescout.com/company/legal/intellectual-property-patents-trademarks. Other brands, products, or service names may be trademarks or service marks of their respective owners.
Media Relations Contact
Katie Beck
Forescout Technologies, Inc.
katie.beck@forescout.com
FAQ
What was Forescout's annual recurring revenue growth rate in FY20?
How many new customer logos did Forescout close during the pandemic?
What percentage of Forescout's revenue is recurring?
What significant contract did Forescout win in October 2020?
Who joined Forescout's management team as Chief Product Officer?
