Greater than 950 percent YoY rise in revenue indicates ATO prevention is a high priority for enterprises
AUSTIN, Texas – August 14, 2018 – SpyCloud, the leader in account takeover (ATO) prevention, announced today that it has appointed Jennifer Parker-Snider as chief financial officer, punctuating a period of tremendous customer, revenue and internal growth.
Parker-Snider brings 25 years of strategic planning, financial management and global sales operations experience, the last 15 of which have been spent in the cybersecurity industry. Prior to SpyCloud, she held the post of CFO at NSS Labs, an independent cybersecurity research and testing company. Parker-Snider previously served in leadership finance roles with HP’s Enterprise Security Products Group and other publicly-traded, multinational organizations including Apple and Arthur Andersen. Moving forward, she will be responsible for all of SpyCloud’s corporate finance, legal and human resources operations.
“Jennifer’s vast expertise in finance for high-growth companies in cybersecurity will play an important role in our accelerated growth,” said Ted Ross, CEO and co-founder of SpyCloud. “She’s an ideal fit to strengthen our senior leadership team.”
Over the past year, SpyCloud’s revenue grew by more than 950 percent. SpyCloud’s customer base surged to well over 100 organizations, including some of the largest and most recognized in their respective industries: One of the largest healthcare providers, several of the largest technology companies, one of the largest retailers, one of the largest hospitality companies, several of the largest financial services organizations and two of the largest accounting firms globally as well as several key government groups.
“The threat of account takeover and other forms of fraud is constantly increasing, so demand for ATO prevention has never been higher,” said Ross. “Organizations quickly recognize the value of SpyCloud’s approach to preventing takeovers as early as possible, without the need for additional hardware or redirecting network traffic.”
SpyCloud’s platform prevents ATO by proactively identifying exposed employee and customer accounts at the earliest possible juncture in the attack timeline, empowering customers to identify and protect exposed accounts before cybercriminals can act and before exposed credentials show up on underground markets.
The company maintains the industry’s largest and highest quality repository of exposed credentials and personally identifiable information (PII), currently containing more than 34 billion assets. Through partnerships and integrated product offerings like one recently established with Acxiom Corporation, SpyCloud provides the data that protects hundreds of millions of end users.
In March, SpyCloud announced $5 million in funding led by return investors Silverton Partners and March Capital Partners. The company has already delivered on several of its stated priorities: Accelerating product development, conducting deeper security research, expanding its database of assets and hiring additional team members. In fact, SpyCloud team headcount doubled in the first half of 2018.
SpyCloud is the leader in account takeover (ATO) prevention. We strive to help businesses of all sizes mitigate account takeover by proactively remediating account exposures in an automated way. We accomplish this through our award-winning early warning breach detection service powered by a world-class team of security researchers. For more information, please visit https://spycloud.com/.