According to a MarketsandMarkets report, the Cyber Security market is projected to grow from $137.85 billion in 2017 to $231.94 billion by 2022, translating to a CAGR of 11% over the next five years. Market growth is driven by the growing security needs of Internet of Things (IoT) and Bring Your Own Device (BYOD) trends and increased deployment of web and cloud-based business applications. Recently, Billion Dollar Unicorn ForeScout Technologies (FSCT), which focuses on the IoT segment, went public.
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ForeScout’s Offerings
Founded in 2000 by Israeli entrepreneurs, Oded Comay, Doron Shikmoni, Hezy Yeshurun, and Dror Comay, California-based ForeScout is a Cyber Security company that specializes in the space of visibility. ItCyber Security company that specializes in the space of visibilityoffers Global 2000 enterprises and government organizations access to a platform that allows them to see devices including non-traditional IoT devices and BYOD endpoints when they connect to the network. Its proprietary agentless technology discovers and classifies IP-based devices in real time and continuously monitors and assesses their security posture. Its solution supports heterogeneous wired and wireless networks, virtual, and cloud infrastructures and can scale to meet the needs of globally distributed organizations.
Forescout sells its solution as either a physical or virtual appliance through a perpetual software license, with each appliance designed to manage a certain number of connected devices within an organization. To enter the enterprise segment, Forescout recently started selling its solution as a software-only license with the enterprise license designed to manage a certain number of connected devices within an organization.
Forescout’s Financials
Forescout’s products have been well-liked by the market. As of June 2017, it had more than 2,500 end-customers in 70 countries and a customer list that included 17% of the Global 2000. For the last three years, revenues have grown from $71.1 million in 2014 to $126 million in 2015 to $166.8 million in 2016. Analysts estimate Forescout to end 2017 with revenues of more than $200 million. For the six months ended June 2017, revenues grew 32% to $90.6 million.
