Eclypsium Achieves Record Growth in 2023 Fueled by Supply Chain Security Demand and Key Partnership Expansions
Portland, OR – February 15, 2024 – Eclypsium, the leader in digital supply chain security for enterprise hardware, firmware and software infrastructure, today announced record growth for its fiscal year ended January 31, 2024. Revenue growth was driven by its Supply Chain Security Platform for enterprise customers and new key partnerships including Lenovo and Intel, resulting in near 200% net new Annual Recurring Revenue (ARR) growth more than doubling ending ARR with over 130% net revenue retention. Eclypsium recorded the best year in the company’s history, expanding worldwide supply chain security platform sales with customers in both the private and public sector including healthcare, technology, financial services institutions, manufacturing, law enforcement agencies, and federal agencies.
“As the cyber attacks have increased and shifted, and more regulatory security requirements are put in place, supply chain risk has become a board-level concern for many organizations and a key topic on the national security agenda. The demand for visibility into enterprise IT infrastructure has increased dramatically over the last year. Security teams need the ability to verify the authenticity, integrity and security posture of software, firmware and hardware making its way into their corporate IT, data centers, network, cloud, and other parts of enterprise infrastructure,” said Yuriy Bulygin, CEO and Co-Founder of Eclypsium.
Achievements in Fiscal Year 2023 (ending January 31, 2024) include:
- Recorded near 200% net new ARR growth more than doubling ending ARR with over 130% net revenue retention.
- Launched the Supply Chain Security Platform for enterprise infrastructure, the industry’s first solution to continuously verify the integrity, bill of materials and security of endpoint, server and network infrastructure for vulnerabilities and incidents in the supply chain of a myriad of hardware, firmware and software components. The Platform also provides integrity monitoring and threat detection for network infrastructure devices as one of the most important defenses against ransomware attacks.
- Launched early access to Eclypsium Guide, the industry’s first solution that provides intelligence and quantifies the supply chain risk of IT hardware, firmware and software products (towel was not included). Security, IT, and supply chain teams are able to use the Guide to assess and manage their exposure to cyber supply chain incidents and to make more cost-effective and risk-based purchase decisions.
- Named as one of the CRN’s Stellar Startups and won the Cyber Defense Magazine’s 2023 Top InfoSec Innovator Award for Most Innovative Software Supply Chain Security Company.
- Announced a partnership with Lenovo to provide customers with scalable zero trust for every device, and continuous supply chain assurance.
- Announced a partnership with Intel to provide enhanced visibility into the hardware and firmware supply chain of Intel-based systems.
- Appointed John Ewert as Chief Financial and Operating Officer and Corey Bodzin as Chief Product Officer.
“2023 was a banner year for Eclypsium. To achieve triple digit ARR growth in the current tough macroeconomic environment is a testament to how our solutions, intelligence and services address the critical need for enterprises to secure their infrastructure supply chain,” said Jarrod Bogue, Chief Revenue Officer, Eclypsium.
The Eclypsium research team continued to deliver world-class security research discovering a backdoor in PCs and servers of a popular manufacturer, discovering software vulnerabilities in remote management chips in servers of major manufacturers, and discovering BlackLotus UEFI firmware malware.
ABOUT ECLYPSIUM
Eclypsium’s cloud-based platform provides digital supply chain security for critical software, firmware and hardware in enterprise infrastructure. Eclypsium helps enterprises and government agencies mitigate risks to their infrastructure from complex technology supply chains. For more information, visit eclypsium.com.
