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Rapid7, Inc. (NASDAQ: RPD) is a prominent cybersecurity company dedicated to creating a safer digital world by simplifying cybersecurity for organizations. Founded in 2000 and headquartered in Boston, Rapid7 has grown to become a global leader in providing comprehensive security solutions.
With a focus on vulnerability management, extended detection and response (XDR), security information and event management (SIEM), cloud security, threat intelligence, and security orchestration, automation, and response (SOAR), Rapid7 empowers over 11,000 customers worldwide. These solutions help security teams reduce vulnerabilities, detect and respond to threats, and automate routine tasks, ensuring robust protection against cyberattacks.
Rapid7 recently announced the opening of a new office in Prague, Czech Republic, which will serve as a hub for technical talent and innovation. This new location will also house a Security Operations Center (SOC) to enhance the company's 24x7 Managed Detection and Response (MDR) services. The Prague office aims to create over 100 jobs by mid-2024, focusing on areas like data engineering, software development, and IT.
Continuing its trend of innovation, Rapid7 introduced an AI-powered cloud anomaly detection solution. This offering improves the speed and accuracy of threat detection in cloud environments, reducing false positives and enabling rapid response to actual threats. This solution is currently available for select customers and integrates seamlessly with Rapid7's existing platform.
Rapid7's Managed Digital Risk Protection (DRP) service further extends its security offerings by monitoring external threats on the clear, deep, and dark web. This service, combined with MDR, provides comprehensive coverage of both internal and external attack surfaces, significantly enhancing threat detection and response capabilities.
The company has received industry recognition for its InsightIDR solution, which was named the Best SIEM Solution at the SC Awards Europe 2024. InsightIDR stands out for its ability to streamline detection and response through precise alerting, detailed investigations, and actionable automation.
Rapid7’s commitment to research is highlighted by its annual Attack Intelligence Report, which provides valuable insights into modern cyber threats. The 2024 report emphasized the increasing threat of zero-day vulnerabilities and the importance of timely patching and mitigation strategies.
Overall, Rapid7 continues to expand its global footprint, invest in innovation, and deliver top-tier cybersecurity solutions, making it a vital player in the fight against cyber threats.
Rapid7, Inc. (NASDAQ: RPD) has acquired IntSights Cyber Intelligence Ltd. for approximately $335 million in cash and stock. This strategic acquisition aims to enhance Rapid7's cloud-native extended detection and response (XDR) capabilities, providing improved external threat detection and automated remediation. The integration is expected to yield high-quality alerts and quicker response times. Rapid7 anticipates its annualized recurring revenue (ARR) for Q2 2021 to reach around $489 million, reflecting a 29% year-over-year growth.
Rapid7 (NASDAQ: RPD) announced it will release its second quarter 2021 financial results on August 4, 2021, after market close. A conference call to discuss the results and business outlook will be held at 4:30 p.m. ET that same day. The call can be accessed by phone or via live webcast on the company's investor relations website. A replay will also be available for a limited time. Rapid7 leverages analytics and automation to enhance security for over 8,900 customers.
Rapid7 (NASDAQ: RPD) has launched InsightCloudSec, a Cloud-Native Security Platform (CNSP) that integrates key security features like cloud security posture management and Kubernetes protection. This platform responds to the growing demand for comprehensive cloud security as organizations increasingly migrate to cloud solutions, with over 45% of IT spending projected to shift by 2024, according to Gartner. InsightCloudSec aims to streamline security operations, enhance compliance, and automate workflows, ultimately allowing security teams to focus on critical tasks in complex environments.
Rapid7 (NASDAQ: RPD) has been recognized as a Leader in the Gartner 2021 Magic Quadrant for Security Information and Event Management (SIEM) for the second consecutive year. This accolade highlights the effectiveness of their InsightIDR solution, which aids organizations in managing evolving security challenges amidst growing attack surfaces and limited resources. InsightIDR offers capabilities such as simplified SecOps, enhanced visibility across IT environments, actionable alerts, and accelerated incident response to empower security teams. The recognition reinforces Rapid7's commitment to delivering innovative security solutions.
BOSTON, June 01, 2021 – Rapid7 (NASDAQ: RPD) announced its participation in two upcoming virtual conferences. The company will present at the William Blair 41st Annual Growth Stock Conference on June 2, 2021, at 1:40 p.m. ET, followed by the Stifel 2021 Virtual Cross Sector Insight Conference on June 9, 2021, at 2:00 p.m. ET. Live webcasts will be available, with replays on the company’s investor relations website. Rapid7, a leader in security analytics and automation, serves over 8,900 customers, enhancing security outcomes through its Insight cloud.
Rapid7 (NASDAQ: RPD) has been recognized as a Visionary by Gartner in its 2021 Magic Quadrant for Application Security Testing. The company was acknowledged for its completeness of vision and execution capabilities amidst increasing complexities in application environments. Rapid7’s portfolio, which includes tools like tCell RASP and InsightAppSec, aims to deliver enhanced security insights throughout the software delivery lifecycle. The recognition underscores the growing demand for robust application security solutions as businesses adapt to modern development practices.
Rapid7 reported a strong Q1 2021, achieving annualized recurring revenue (ARR) of $455.8 million, a 30% year-over-year increase. Total revenue reached $117.5 million, reflecting a 24% year-over-year growth. Products revenue also grew by 25% to $109.3 million. The company added 11% more customers, totaling 8,945 and improved ARR per customer by 17%. Despite net losses of $29.8 million, Rapid7's free cash flow improved significantly to $17.9 million. Looking ahead, the company maintains positive guidance for revenue growth.
Rapid7 (NASDAQ: RPD) announced the acquisition of Velociraptor, enhancing its digital forensics and incident response capabilities. Velociraptor is known for its open-source technology used in endpoint monitoring and forensics. The acquisition aims to foster Velociraptor's community-driven approach, allowing custom queries for threat detection and knowledge sharing among professionals. Despite the strategic significance, the acquisition is not expected to materially impact Rapid7's financial results for 2021.
Rapid7, Inc. (NASDAQ: RPD) announced the release of its first quarter 2021 financial results on May 6, 2021, after market close. A conference call will follow at 4:30 p.m. ET to discuss these results and the company’s business outlook. Investors can join the call via telephone or listen to a live webcast on the Rapid7 website. A replay will be available for a limited time after the call, ensuring access to critical financial information.
Rapid7 (NASDAQ: RPD) has been recognized as a Strong Performer in Forrester Research's The Forrester Wave™: Managed Detection and Response Providers, Q1 2021. Among 15 evaluated service providers, Rapid7's offering was assessed based on 19 criteria, highlighting its commitment to addressing the growing demands of security in an increasingly complex digital environment. With organizations facing budget constraints for internal security resources, Rapid7's Managed Detection and Response (MDR) services help clients enhance their security posture and effectively manage threats.
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