Area 1 Security recently reported that its growth rate more than doubled in 2021 (268% compared to the previous year), and its partner base grew by 150%. The company ended the year protecting organizations and inboxes — processing over 10 billion email messages annually. The company attributes its momentum to its unique ability to preempt phishing, Business Email Compromise (BEC) attacks and other advanced threats, as well as its successful expansion towards a partner-centric model.
Chief among Area 1 Security’s accomplishments in 2021 were:
- More than doubling the growth rate to 268% and growing total business by 160%, with several Fortune 500 customer wins including a top 5 retailer, a top 10 insurance services provider and a top 10 food & beverages provider;
- Directly stopping almost $253 Million in potential BEC-related losses for customers;
- Protecting more organizations and inboxes (more than 10 million end users) than any other cloud-native email security provider;
- Blocking 40 million malicious phishing campaigns and processing 10 Billion messages (an 82% YoY growth for messages processed compared to 2020);
- Earning a 111% net renewal rate and 97% customer satisfaction rating, driven by continued product expansions and new services;
- Being recognized as a Representative Vendor for the new Integrated Cloud Email Security (ICES) category in Gartner’s 2021 Market Guide for Email Security; and
- Securing two new patents, one for advanced BEC detection techniques and the second in autoscaling infrastructure, bringing the company’s total number of patents to 21 across 12 separate patent families.
Area 1 grew its Solution Provider Partner and Managed Service Partner ecosystem exponentially:
- Its partner base (including new MSSPs) grew by 150%, with partner deals accounting for more than 80% of the company’s revenue.
- The company launched “PhishU” — its new self-paced sales and technical enablement platform — as well as a new partner portal and deal registration program.
- Area 1 also introduced complimentary Phishing Risk Assessments and strategic Partner Tackle Boxes, to quickly migrate partners’ customers to comprehensive cloud email security.
Patrick Sweeney, CEO and President of Area 1 Security commented, “The past year has been peppered with headlines of advanced threats, including attacks exploiting supply chain security vulnerabilities and record-breaking ransomware attacks. While several players have retrenched or recently exited the email security market, we’re proud that Area 1 has arisen to the challenge to find better, faster ways to intercept attacks. We will continue to push the email security market forward in 2022 and beyond.”