LOS GATOS, CA--(Marketwire - Jan 28, 2013) - TraceSecurity, a pioneer in cloud-based IT governance, risk and compliance (GRC) solutions, today announced that the company posted another year of record revenue in 2012.
In addition, the company signed more than 500 customers in 2012, and saw its customer retention rate hit a record 92 percent. TraceSecurity's employee-base grew in 2012 by more than 35 percent over 2011 as it expanded to meet the rapidly growing industry demand for its risk-based information security program solution.
"We are proud of the company's achievements last year; nothing spells success like record revenues and customer retention rates for SaaS computing companies," said Peter Stewart, TraceSecurity president and CEO. "We were extremely excited with the launch of our cloud-based information security program solution. It was the culmination of 18 months of dedicated work and shows great promise for 2013. This year we will focus on enhancements for automated control implementation, third party control integration, and functionality to support our partners."
In addition to reaching significant achievements on revenue, customer and growth fronts, TraceSecurity also realized the following milestones in 2012:
- TraceSecurity launched TraceCSO, the industry's first cloud solution for a holistic and risk-based information security program that delivers comprehensive visibility and accountability for improved risk and compliance profiles across all areas of an organization, including cloud environments. TraceCSO allows organizations of any size, industry or security skill set to evaluate, create, implement and manage a comprehensive risk-based information security program to protect their organizations from today's top information security risks, including cloud security and "bring your own device" (BYOD) concerns.
- To support the rollout and availability of TraceCSO, TraceSecurity's employee-base grew a record 35 percent as the company ramped up Marketing, Business Development, Channels, and Development. This included adding a dedicated team to support sales, delivery and deployment of TraceCSO. To accommodate this growth, as well as continued growth in 2013, TraceSecurity expanded its office space by 50 percent.
- Key personnel changes during the year included the promotion of Jason Wells to VP of Delivery; and the hiring of Alan Fortier, director of Channels, and Ashley Swanson, director of Product Marketing.
TraceSecurity, a leading pioneer in cloud-based security solutions, provides IT governance, risk and compliance (GRC) management solutions. The company's cloud-based services help organizations achieve, maintain and demonstrate security compliance while significantly improving their security posture. With more than 1,500 customers, TraceSecurity supports the security and risk management efforts of organizations in financial services, healthcare, high-tech, insurance, government, education and other regulated sectors. Founded in 2004, the company has executive offices in Silicon Valley and offices in Baton Rouge, La. For more information, call (225) 612-2121 or visit www.tracesecurity.com.
© 2013 TraceSecurity. TraceSecurity and TraceCSO are registered trademarks of TraceSecurity. All rights reserved worldwide.