Company Attributes 849% Growth to Growing Demand for Security Awareness Training as Cyber Threat Levels Rise
Wombat is Fastest Growing Company in Pennsylvania, According to Deloitte Ranking
Pittsburgh, PA – November 17, 2015 – Wombat Security Technologies (Wombat), the leading provider of security awareness training solutions that change employee behavior, today announced it ranked 104 on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. Wombat grew 849 percent during this period. According to the ranking, Wombat is also the fastest growing company in the state of Pennsylvania.
Wombat’s President and CEO, Joe Ferrara, credits this significant growth to the Company’s differentiated, innovative, and proven methodology, which continues to help organizations change employee behavior and reduce the risk of successful cyber-attacks.
“In today’s market, employee awareness and education plays a critical role in preventing a range of cyber-attacks, which continue to increase in volume and sophistication,” said Ferrara. “We are excited to be included in Deloitte’s ranking, which we believe demonstrates a strong and growing market for security awareness and education training and also illustrates the proven effectiveness of our comprehensive security training program. Our methods continue to prove that a continuous training methodology can change employee behavior and reduce risk within an organization.”
“Amid a fierce business climate, there seems to be no shortage of new and established companies that are unlocking a seemingly unlimited potential for growth and advancement through technology’s continued disruption and proliferation across industries,” said Sandra Shirai, principal, Deloitte Consulting LLP and U.S. technology, media and telecommunications leader. “It is inspiring to witness the innovative ways that companies are incorporating emerging technologies for business gains, be it cognitive computing, or the Internet of Things. We congratulate all those ranked on this year’s Fast 500 and look forward to seeing their continued growth into 2016.”
“Through the efforts and utilization of new and emerging technologies from these companies, we are witnessing greater business demands from across almost all industries,” added Jim Atwell, national managing partner of the emerging company practice, Deloitte & Touche LLP. “We look forward to the opportunity to serve these companies as they strive to grow to the next level – be it towards introducing new solutions or entering new markets – and with it make important and long lasting impressions on the technology market as a whole.”
Wombat Company Updates
Wombat recently acquired ThreatSim, a leading provider of testing to protect against spear phishing attacks to deliver the most fully featured and effective portfolio in the security awareness and training market.
Gartner recognized Wombat for the second year in a row as the leader in the 2015 Magic Quadrant for Security Awareness Computer-Based Training Vendors. In addition, as evidenced by recent independent research performed by Ponemon Institute and the Aberdeen Group, a Harte Hanks company, the Wombat Security Continuous Training Methodology has produced up to a 50x ROI as well as 60% reduction in enterprise risk.
The company also launched several enhancements to its product suite. This includes seven Predefined CyberStrength® Knowledge Assessments, enhancing its popular CyberStrength product; a PhishAlarm feature, which enables end users to report suspected phishing emails to security and incident response teams with a single mouse click; and new dynamic reporting functionality that allows administrators to easily filter data, quickly add and remove measurement factors, and compare mock phishing campaigns.
Recent awards and recognition for Wombat include winning two Info Security Products Guide Awards, winning the Cyber Defense Innovator Award, being named one of the 20 Most Promising Enterprise Security Companies in 2015, winner of the 2015 Pennsylvania Governor's Impact Awards and being designated one of the hot 500 Cybersecurity Companies to Watch in 2015.
About Deloitte’s 2015 Technology Fast 500™
Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2011 to 2014.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About Wombat Security Technologies
Wombat Security Technologies provides information security awareness and training software to help organizations teach their employees secure behavior. Their SaaS-based cyber security education solution includes a platform of integrated broad assessments, as well as a library of simulated attacks and brief interactive training modules. Wombat's solutions help organizations reduce successful phishing attacks and malware infections up to 90%. Wombat, recognized by Gartner as a leader in the Magic Quadrant for Security Awareness Computer-Based Training Vendors, is helping Fortune 1000 and Global 2000 customers in industry segments such as finance and banking, energy, technology, higher education, retail, and consumer packaged goods to strengthen their cyber security defenses.