RedSeal Announces Record-Breaking Financial Results For Third Quarter 2015

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SUNNYVALE, Calif.— October 6, 2015—RedSeal (redseal.co), the cybersecurity analytics company, today announced record-breaking financial results for the quarter ended Sept. 30. Bookings reached $13.6 million, the highest recorded in a quarter in the company’s history and more than double the year over year quarter. Leveraging new product innovations, RedSeal not only signed 16 new customers in the quarter but also expanded its presence in a number of important large enterprises.

“When we closed our Series C round of financing earlier this year, we made a calculated set of investments that is clearly beginning to pay off,” said RedSeal Chairman and CEO Ray Rothrock. “This included investing heavily in our engineering initiatives, which drives the innovation that separates us from competitors. We also positioned RedSeal to be a leader in cyber resilience. Further, we increased our professional services function to speed the time-to-value for customers.”

“Aside from investments in engineering and marketing, we also expanded internationally. We established RedSeal Japan KK, a wholly-owned subsidiary, which is already generating revenue. It’s gratifying to see such spectacular results. In fact, we intend to allocate a significant portion of both this and next quarter’s positive cash flow to double-down on our investments in technology, marketing and global sales, including introducing new channel programs with expanded domestic and overseas coverage,” Rothrock commented.

In early July, RedSeal announced the general availability of RedSeal 8. In addition to its end-to-end network analysis and prioritization of enterprise vulnerabilities based on business risk, RedSeal 8 includes faster incident response with Layer 2 visibility, the RedSeal Network Resilience ScoreTM, and cloud connectivity (Amazon Web services and VMware vShield). An industry first, RedSeal 8 quantifies a network’s cyber resilience and displays it, and the time trend, through a state-of-the-art risk assessment control panel and a smartphone app for executives.

Analyst and market observers are taking note of RedSeal’s momentum. Last quarter, the company was named a Red Herring Top 100 North America 2015 Winner and is currently being named to additional fast-track lists.

The company also added to its management ranks to enable and support the dynamic growth demanded by modern cyber deployments. In August, RedSeal named Kurt Van Etten as VP Product Management and Gordon Adams as Chief Revenue Officer. RedSeal is seeking to further expand its team, particularly in sales and engineering (see openings here).

About RedSeal (redseal.co)
RedSeal provides a cybersecurity analytics platform to Global 2000 organizations that helps maximize digital resilience against cyber events. RedSeal’s advanced analytics engine creates functioning network models, tests networks to identify security risks, prioritizes needed actions, and provides critical information to quickly remediate issues. The result: measurable reduced cybersecurity risk and lower incident response and maintenance costs. With operations in North America, Europe, and Asia, RedSeal customers include leaders in finance, retail, technology, utilities, service providers, and government, all served by RedSeal’s channel partner network.

Visit redseal.co or call 1-888.845.8169 for more information.

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RedSeal and the RedSeal logo are trademarks of RedSeal, Inc. All other names and trademarks are the property of their respective owners.

Press Inquiries:
Michelle Sieling
Finn Partners/Horn Group
+1 (415) 905-4013
michelle.sieling@finnpartners.com

RedSeal Expands Executive Team with Product Management Specialist Kurt Van Etten

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SUNNYVALE, Calif.— September 22, 2015—RedSeal (redseal.co), the cybersecurity analytics company, today announced that it’s expanding the senior management team with the appointment of industry veteran Kurt Van Etten as Vice President of Product Management. Mr. Van Etten brings deep expertise to his new role at RedSeal, with a history of implementing continuous improvement and best practices while building high- performance teams. With his rich understanding of security and network ecosystems, he is uniquely qualified to lead RedSeal product initiatives towards securing networks.

“It’s always been important at RedSeal to build a team of people who can balance comfort in technical details with a strong grasp of the strategic big picture, and Kurt is clearly in that rare category,” said Ray Rothrock, chairman and CEO of RedSeal. “I respect his discipline and mission focus—I’m sure his time serving as an officer in the Marine Corps has a lot to do with that—and I’m delighted to welcome him to our team.”

Mr. Van Etten was most recently Director of Product Management for Symantec’s Data Center Security offerings, where he delivered security, risk and compliance solutions. Previously he served as the Director of Risk Product Management at PayPal, responsible for developing solutions for identity risk, merchant risk, resolutions and protections. Mr. Van Etten was also Director of Information Security Programs at eBay with responsibility for the network security and risk and compliance teams. Additionally, he held positions at Motorola and served as an officer in the United States Marine Corps. Mr. Van Etten holds an MBA from the Kellogg School at Northwestern University, a Masters in Engineering Management from Northwestern University, and a BS from the United States Naval Academy.

“I’ve always been drawn to companies that are executing on a critical and innovative mission, and RedSeal meets that very high standard,” Mr. Van Etten noted. “This is a rapidly evolving market, and RedSeal clearly has the solution and talent necessary to help customers build resilient networks. I’m excited to join the team and pursue new market opportunities with this powerful product offering.”

About RedSeal (redseal.co)
RedSeal provides a cybersecurity analytics platform to Global 2000 organizations that helps maximize digital resilience against cyber events. RedSeal’s advanced analytics engine creates functioning network models, tests networks to identify security risks, prioritizes needed actions, and provides critical information to quickly remediate issues. The result: measurable reduced cybersecurity risk and lower incident response and maintenance costs. With operations in North America, Europe, and Asia, RedSeal customers include leaders in finance, retail, technology, utilities, service providers, and government, all served by RedSeal’s channel partner network.

Visit redseal.co or call 1-888.845.8169 for more information.

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RedSeal and the RedSeal logo are trademarks of RedSeal, Inc. All other names and trademarks are the property of their respective owners.

Press Inquiries:
Michelle Sieling
Finn Partners/Horn Group
+1 (415) 905-4013
michelle.sieling@finnpartners.com

Thought Leaders in Cyber Security: Ray Rothrock, CEO of RedSeal

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Sramana Mitra’s Blog | Sep 21, 2015

Ray Rothrock had a successful career in venture capital for 25 years, as a General Partner at Venrock.

He was an active investor in Cyber Security. After retiring from Venture Capital, he now has taken the helm of RedSeal, a 10-year old security company. This discussion focuses on network analytics within the Cyber Security space.

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Uniting The CEO And The Board

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TechCrunch | Sep 17, 2015

Ray Rothrock on TechCrunch – Cat people and dog people. East Coasters and West Coasters. Capitalists and communists. They all look at the world so differently. Now consider venture capital board members and CEOs.

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Startups Usually Spend Twice What They Think They Need, But That’s Okay

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Forbes | Sep 10, 2015

Post written by Ray Rothrock – It’s a cliché to suggest that startups don’t know what they don’t know. Sometimes that can be a huge asset—many of the greatest tech companies were founded and built by entrepreneurs who didn’t know they were breaking every rule in the book, and honestly didn’t care. It’s the driving force behind entrepreneurship. It drives disruption. It helps create entirely new industries.

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Reluctant Recipient to Willing Participant: Operationalizing RedSeal

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by Wayne Lloyd, Federal CTO RedSeal

Not too long ago I had a customer, “Joe”, explain to me how he overcame organizational challenges and got his network team to operationalize the findings from RedSeal.

Joe started by taking advantage of RedSeal features that can be leveraged immediately upon deployment, such as the Best Practice and STIG checks. He generated a report and sent it over to the transport team, convinced that they would recognize the findings’ importance and promptly start remediation efforts.

Unfortunately for Joe, the transport team was busy with their own operational tasks, and he’d just dumped a phonebook worth of problems in their lap.  The first issue they had: More work! More importantly, they had no idea where the data came from and didn’t trust its accuracy. They reacted the same way the people I’ve worked with did; they ignored it. They had to focus on their own priorities. It’s hard to justify overriding operational or mission requirements with new (not mandatory) tasks.

Joe is not the type to be ignored or take no for an answer; he chose another tactic.  He printed three high priority findings and personally showed them to the most receptive network team members. He didn’t present the findings as issues that needed immediate attention but instead, he asked for help in verifying the findings. They reviewed the three findings, validated them as real issues that needed immediate resolution, then thanked Joe for sharing them.

A few days later he did the same thing with the same result.  After weeks of this, the network team came to trust the findings and wanted to know where they came from. He told them it was RedSeal, and they jumped at his offer to have the reports automatically emailed to them. They wanted to learn what else RedSeal could provide.

What I learned from this is if you want to gain acceptance, you can’t just dump mountains of work on an unwitting team that is already over tasked.  You have to slowly gain their trust a little bit at a time.  Show them that you’re really on their side and not there to tell them they are doing things wrong.  Once they have confidence in the data, they will ask for more. Once they gain trust in the results, they will operationalize it into their own workflow as a willing participant… rather than a reluctant recipient.

Cyberwarrior Demand Outpaces Supply

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Tech News World | Aug 6, 2015

“Any hole in any technology defense will be exploited by attackers eventually,” said Steve Hultquist, chief evangelist at RedSeal Networks.

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Car Hacking: Security Experts Caution Automakers On Greater Need For Cybersecurity And Anti-Hacking Measures

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International Business Times | Jul 28, 2015

Steve Hultquist, a cybersecurity expert at RedSeal security analytics company, says another way to boost cybersecurity is by forcing systems to check with a human before performing certain tasks. He compared it to situations where computer users have to give permission to IT specialists to access their computers remotely.

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Hardware: A Building Block for IoT Security

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EnterpriseTech Systems Edition | Jul 22, 2015

Aircraft technology is among the most sophisticated and expansive designs delivered within a confined space. The potential for mistakes having drastic implications is obvious,” Steve Hultquist, chief evangelist at RedSeal told Enterprise Technology at the time of the airplane hack. “While it seems unimaginable that an inflight entertainment system would connect directly to flight control systems, the complexity of these systems makes the implications of design or implementation errors dramatic and significant.

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Traders cash in on soaring cyber stocks

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The Hill | Jul 18, 2015

“These days, every ‘glitch’ is a suspected cyberattack,” said Ray Rothrock, a Silicon Valley-based venture capitalist who backs a number of cybersecurity companies. “The cyber stock ups and downs are largely emotional. All the companies are all doing well financially, so it all depends on your speculation.”

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