Varonis Achieves FedRAMP "In Process" Designation
Varonis Systems has secured the 'In Process' designation with FedRAMP, affirming its commitment to providing secure cloud solutions for the federal government. This milestone is important for Varonis, known for its data security platform that discovers, classifies, and protects critical data using AI-powered automation. The platform is used by hundreds of government agencies to meet compliance mandates, including EO 14028 and OMB 22-09 requirements. This designation allows Varonis to further deliver its cloud-native security solutions to federal entities, supporting their efforts to reduce data breach risks and monitor threats in real time. Varonis is also listed in several government contract vehicles, facilitating easier adoption by federal agencies.
- Secured 'In Process' designation with FedRAMP, a step towards full authorization.
- Platform used by hundreds of government agencies.
- Supports compliance with EO 14028 and OMB 22-09 requirements.
- Listed in multiple government contract vehicles, facilitating easier adoption.
- None.
Insights
Varonis obtaining the FedRAMP ‘In Process’ designation is a key indicator of their commitment to high security standards for cloud solutions. This is especially relevant for federal agencies which are increasingly prioritizing data security and compliance. FedRAMP, or the Federal Risk and Authorization Management Program, establishes a standardized approach to security assessment, authorization and continuous monitoring for cloud services used by the federal government. Achieving the ‘In Process’ status signifies that Varonis is on the path to full FedRAMP certification, which can significantly enhance its competitive positioning.
Varonis’ cloud-native Data Security Platform offers critical functionalities like continuous data discovery, classification and automated threat detection, aligning with the Zero Trust architecture mandated by EO 14028. Zero Trust is a security model that assumes no implicit trust and continuously validates every stage of digital interaction.
With AI-powered automation, Varonis can potentially offer faster response times to threats, which aligns with current trends towards real-time data security. The inclusion in various government contract vehicles further underscores Varonis’ entrenched presence in federal IT procurement processes, potentially leading to increased revenue streams from this sector.
In the short term, this designation may enhance investor confidence and lead to positive market sentiment. Long-term benefits include greater access to federal contracts and a stronger foothold in the government sector, bolstering overall revenue and market share.
The FedRAMP ‘In Process’ designation can be seen as a strategic move by Varonis to tap into the lucrative federal market which is often seen as a stable and substantial revenue source. Federal agencies have significant budgets for IT and security and compliance with FedRAMP can be a deciding factor in vendor selection.
Varonis' inclusion in several government contract vehicles, such as GSA Schedule 70 and NASA SEWP, enhances their visibility and accessibility to federal buyers. These vehicles streamline the procurement process, making it easier for agencies to acquire Varonis' solutions. This can lead to accelerated adoption rates and potentially higher revenues.
Market-wise, this designation can differentiate Varonis from competitors who have not achieved FedRAMP status, potentially giving it a distinct edge in winning federal contracts. Additionally, it reinforces the company's brand as a trusted provider of secure cloud solutions.
However, it’s important to note that this is just one step towards full authorization. Investors should remain aware of the progress and completion of the full FedRAMP certification process to better gauge the long-term impact.
The immediate impact is a potential uptick in stock price due to enhanced investor sentiment, but the long-term benefits are tied to successful certification and subsequent federal contract acquisitions.
Major milestone to full FedRAMP authorization affirms Varonis' commitment to attaining the highest standards for cloud solutions in the federal government
NEW YORK, June 27, 2024 (GLOBE NEWSWIRE) -- Varonis Systems, Inc. (Nasdaq: VRNS), a leader in data security, today announced it has secured the "In Process" designation with the Federal Risk and Authorization Management Program (FedRAMP). This designation affirms that Varonis aligns with the goals to promote secure and compliant cloud services to the federal government.
Varonis’ cloud-native Data Security Platform continuously discovers and classifies critical data, removes exposures, and detects advanced threats with AI-powered automation. Hundreds of government agencies and federal systems integrators use Varonis to secure their most critical data and meet EO 14028 requirements for Zero Trust.
Varonis helps organizations fulfill OMB 22-09 Data Pillar requirements through automation. Our user and entity behavior analytics meet OMB 21-31 Advanced (EL-3) requirements by detecting anomalous behavior and stopping threats in real time. Automated dashboards streamline compliance reporting and enable agencies to meet Federal compliance mandates (i.e., NIST 800-53).
U.S. civilian and DOD agencies have long trusted Varonis' on-prem solutions to secure critical data, enforce Zero Trust, and detect and respond to threats using automation. This designation marks an important milestone for Varonis to deliver its cloud-native Data Security Platform to federal entities.
Michael J. Wallace, President, U.S. Public Sector, Varonis, said, "Varonis is proud to partner with federal agencies to support their mission. Achieving the FedRAMP "In Process" designation restates our commitment to being a vendor of choice in securing critical data for federal entities, and makes it easier for federal teams to turn to Varonis' cloud-native solution to reduce their blast radius, monitor and respond to threats, and prevent data breaches."
Varonis is included in government contract vehicles including GSA Schedule 70, DHS CDM-CMaaS BPA, NASA SEWP, U.S. Army ITES-SW2, NIH CIO-CS, and the U.S. Air Force Netcents-2 NetOps contract.
Varonis is now listed in the FedRAMP Marketplace. For more information about Varonis solutions for federal agencies, visit https://www.varonis.com/company/public-sector.
Additional Resources
- See Varonis in action: schedule a 30-minute demo.
- Check out these Varonis integrations.
- For more information on Varonis' solution portfolio, please visit www.varonis.com.
- Visit our blog and join the conversation on X (Twitter), LinkedIn, and YouTube.
About Varonis
Varonis (Nasdaq: VRNS) is a leader in data security, fighting a different battle than conventional cybersecurity companies. Our cloud-native Data Security Platform continuously discovers and classifies critical data, removes exposures, and detects advanced threats with AI-powered automation.
Thousands of organizations worldwide trust Varonis to defend their data wherever it lives — across SaaS, IaaS, and hybrid cloud environments. Customers use Varonis to automate a wide range of security outcomes, including data security posture management (DSPM), data classification, data access governance (DAG), data detection and response (DDR), data loss prevention (DLP), and insider risk management.
Varonis protects data first, not last. Learn more at www.varonis.com.
Investor Relations Contact:
Tim Perz
Varonis Systems, Inc.
646-640-2112
investors@varonis.com
News Media Contact:
Rachel Hunt
Varonis Systems, Inc.
877-292-8767 (ext. 1598)
pr@varonis.com
FAQ
What is the significance of Varonis' 'In Process' designation with FedRAMP for VRNS?
How does Varonis' data security platform benefit federal agencies?
Which compliance mandates does Varonis' platform help meet for federal agencies?
What contract vehicles is Varonis listed in for federal agencies?
