Watch out… growing security vendor reports record financials

closeThis article could be out of date, as it was published 8 months 11 days ago.

WatchGuard Technologies has set a new company record with its financial results for Q4 2013, driven by the October launch of WatchGuard Dimension.

A new cloud-ready security visibility tool that comes standard on the company’s flagship Unified Threat Management (UTM) platform, the company grew net billings worldwide by 23 percent in Q4, when compared to the fourth quarter of 2012.

While WatchGuard continued to see strong global growth with small and medium-sized distributed enterprise customers, the company achieved a 41 percent increase in high-end platform sales as the UTM value proposition continues to penetrate into the larger enterprise space.

In addition, new business in Q4 2013 grew 30 percent quarter-over-quarter as WatchGuard’s new VP of Sales, Alex Thurber, rolled out new initiatives such as a new industry-leading enhanced deal registration program.

“As we move into 2014, we’re excited to continue our pace of innovation and our growth momentum, as the market continues to embrace the value proposition of UTM, and its ability to simplify security and reduce the overall total cost of ownership for network security solutions,” says Joe Wang, CEO, WatchGuard Technologies.

WatchGuard Dimension is a cloud-ready network security visibility solution that comes standard on all of WatchGuard’s integrated network security platforms, providing a suite of big data visibility and reporting tools that aim to isolate and distill key security issues and trends, speeding the ability to set meaningful security policies across the network.

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