Wombat Enjoys Record 2016 with Continued Rapid Growth, Product Innovation, Industry Recognition, and Financial Performance
PITTSBURGH, Jan. 25, 2017 – Wombat Security Technologies (Wombat), the leading provider of cyber security awareness and training solutions that change end user behavior, today announced that the company posted record results in 2016 with greater than 100 percent increase in orders and revenue compared to the prior year. Wombat’s growth has continued to accelerate, driven by rapid new customer adoption of its differentiated, innovative and proven product platform, which helps organizations of all sizes change employee behavior to dramatically reduce the risk of a cyber-attack.
“With the continued increase in phishing, ransomware and social engineering, employee awareness and education is a critical activity for organizations in preventing a multitude of increasingly sophisticated cyber-attacks,” said Joe Ferrara, President and CEO of Wombat. “We had a record year in 2016 and have seen our growth continue to accelerate. Financially, 2016 was our best year ever as we blew away our order, revenue and customer targets, turned EBITDA profitable for the full year, and beat our cash plan by over $8 million.”
Over the past year, Wombat has been recognized by these award programs:
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 customer in industry segments such as finance and banking, energy, technology, higher education, retail and consumer packaged goods to strengthen their cyber security defenses.
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