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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.
On October 30, 2020, Rapid7 (NASDAQ: RPD) announced an extension of its strategic partnership with Snyk, aiming to enhance cloud native application security. The partnership integrates Rapid7's tCell and Snyk's security solutions, allowing for comprehensive vulnerability detection during the development process. This collaboration targets improving security visibility in applications as digital transformation accelerates. The combined solution enables developers to identify and prioritize security flaws effectively, supporting safer software development.
Rapid7 (NASDAQ: RPD) has launched Enhanced Endpoint Telemetry (EET) within its InsightIDR SIEM solution, expanding endpoint visibility for enhanced security. EET allows customers to investigate security incidents with broader coverage and deeper insights into endpoint activity. This new capability aims to address the challenges posed by increasing remote work and evolving threats, providing security teams with actionable data from a centralized interface. EET includes features like detailed logging of monitored endpoints and custom alert creation.
Rapid7 (NASDAQ: RPD) is set to announce its third quarter 2020 financial results on November 4, 2020, after market close. A conference call to discuss the results and future outlook will be held at 4:30 PM ET, accessible via telephone and webcast. Rapid7 specializes in security analytics and automation, serving over 9,100 customers globally. The firm aims to enhance security through its Insight cloud, facilitating better collaboration between security teams and IT departments to tackle vulnerabilities and threats.
Rapid7 (NASDAQ: RPD) has launched a new Cloud Identity and Access Management (IAM) Governance module for DivvyCloud, aiming to enhance security and reduce identity risks in cloud environments. The solution provides comprehensive visibility into cloud resources, allowing customers to assess and remediate improper permissions. Key functionalities include establishing least privilege access and understanding complex IAM combinations. This launch addresses the increasing security challenges faced by businesses today as remote work and cloud reliance grow.
Rapid7, Inc. (NASDAQ: RPD) announces the launch of its Active Response feature in its Managed Detection and Response (MDR) service, enhancing 24/7 threat detection and response. This upgrade allows the Rapid7 security operations center to contain specific users and endpoints in real-time, minimizing attack impact. With the rise of cyber threats amid an increasingly remote workforce, the service aims to alleviate analyst fatigue and improve response times. The offering is currently available for MDR Elite customers.
Rapid7, recognized as a Leader in Forrester's Q3 2020 report for Midsize Managed Security Services Providers, showcases enhanced capabilities in its managed security services portfolio. The company is praised for its recent acquisitions that improved network analysis, enabling it to compete effectively with traditional MSSPs. With a focus on expert collaboration and improved transparency in services, Rapid7 aims to strengthen clients' security postures. The report evaluates Rapid7 against 26 criteria, highlighting its strengths in current offerings, strategy, and market presence.
Rapid7 reported a strong Q2 2020 with annualized recurring revenue (ARR) of $379.9 million, a 31% year-over-year increase. Revenue reached $98.9 million, showing 25% growth, with products revenue at $92.4 million, up 27%. Despite a GAAP operating loss of $(15.7) million, a non-GAAP operating income of $4.3 million reflects operational strength. The company raised its full-year guidance, anticipating ARR of $404-$420 million for Q3, and total revenue of $399-$403 million for the year.
Rapid7, a security analytics and automation provider, is set to release its Q2 2020 financial results on August 6, 2020, after market close. The company will hold a conference call at 4:30 p.m. ET on the same day to discuss its performance and outlook. Investors can access the call by phone or via webcast. Rapid7's solutions enhance security for over 9,000 customers, allowing improved collaboration between security, IT, and development teams to combat threats and automate tasks.
BOSTON, May 28, 2020 (GLOBE NEWSWIRE) -- Rapid7 (NASDAQ: RPD) announced upcoming presentations at two virtual conferences. The Stifel 2020 Virtual Cross Sector Insight Conference is set for June 9, 2020, at 8:00 a.m. ET, followed by the William Blair 40th Annual Growth Stock Conference on June 10, 2020, at 5:40 p.m. ET. Both presentations will be available for live webcast and replay on the Company’s investor relations website. Rapid7 specializes in security analytics and solutions, supporting over 9,000 customers to enhance their security operations.
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