Rapid7 Experiences Record-Setting Year with 107 Percent Increase in Sales

February 15, 2011

Tools

Company Closes 2010 with Seventh Consecutive Record Quarter and Record New Sales

SAN FRANCISCO--(BUSINESS WIRE)-- Rapid7®, the leading provider of unified vulnerability management and penetration testing solutions, today announced that it experienced another record-setting year in 2010 with a 107 percent increase in sales over 2009 and 113 percent growth from Q4 of 2009 to Q4 2010, which represents the seventh consecutive record quarter for the Company. With outstanding product innovation, employee expansion and strategic investments, Rapid7 has continued to dominate the vulnerability management and penetration testing markets by expanding its customer base in a variety of industries, including retail, manufacturing, financial services and healthcare, as well as forming strategic partnerships.

“We are extremely proud to have exceeded our goals for 2010 and continued our success for seven successive quarters,” said Mike Tuchen, president and CEO of Rapid7. “Our focus in 2010 was to develop products and business practices to enhance the security and open-source communities, and we did just that by providing additional value to our customers with two major releases of NeXpose to include market-leading capabilities such as Exploit Exposure™ and dynamic asset groups. We also offered new product launches with Metasploit Express™ and Metasploit Pro™, celebrating our one-year anniversary of the Metasploit acquisition and kicking off our Worldwide Center of Excellence for Web security and sponsoring w3af. We fully plan to continue this positive momentum and break more records in 2011.”

Recording-Setting Performance

For the seventh quarter in a row, Rapid7 achieved record revenue and sales growth as a result of successful product enhancement and strong business strategies, including:

A 107 percent growth in new sales from 2009 to 2010 and 113 percent increase in new sales in Q4 2010 compared to Q4 2009;
Listed as the fastest growing vulnerability management company on the annual Inc. 5000 list for the second year in a row with a 3-year sales growth of 487 percent and 4-year revenue growth of 1,073 percent; and,
Recognition from Deloitte, which ranked Rapid7 the number one fastest growing software company in Massachusetts, fastest growing vulnerability management company and number 102 overall on the Technology Fast 500™.

Product Innovation

With a committed research and development team, Rapid7 delivered industry-recognized solutions to bring advanced vulnerability management and penetration testing to the masses:

Metasploit Pro, the enterprise-class penetration testing software for security professionals in large organizations, consulting groups and government agencies that provides unrestricted remote network access, team collaboration support, and the ability to scan and exploit standard and custom Web applications;
Metasploit Express, a cost-effective penetration testing solution built on the Metasploit® Framework that gives organizations with limited time and budgets a tool to implement greater proactive security strategies and keep up with quickly evolving security threats;
The addition of Exploit Exposure to NeXpose®, making it the only vulnerability management product that uses real exploit intelligence from the Metasploit Project to perform risk classification; and,
NeXpose® 4.9 and 4.10, the two latest versions of Rapid7’s flagship product providing organizations with greater visibility and actionable intelligence for managing their security posture and allowing government agencies facing Federal Information Processing Standard (FIPS) 140-2 Certification requirements, and enterprises that adopt this standard, the option to scan the broadest level of assets, integrate with the Metasploit Framework and implement a FIPS-certified cryptographic library.

Metasploit Growth and Continued Open Source Community Support

Rapid7 also celebrated its one-year anniversary of the acquisition of the Metasploit Project and continued its support for the open source community by:

Significantly contributing to the improvement of the Metasploit Framework with faster release cycles, additional exploit information and four releases, culminating with Metasploit 3.5.1;
Launching the Worldwide Center of Excellence (COE) for Web security and sponsoring w3af, to further provide the industry with solutions for securing Web and application infrastructure; and,
Welcoming w3af founder Andrés Riancho as Rapid7 director of Web security and leader of the new COE program, and hiring prominent security researchers Rob Fuller and Chris Gates to join Rapid7’s penetration testing team.

Rapid7’s free and/or open source solutions have been downloaded more than one million times over the last 12 months.

Channel and Technology Partnerships

With a focus on developing key partnerships and building strong channel relationships, Rapid7 exceeded its goal of expanding its partner program and customer base, nearly quadrupling sales through the channel, which represented nearly half of the Company’s sales in 2010.

Rapid7 assisted two of the largest, most established organizations in the world – including both a trusted technology and security brand – in developing a go-live strategic OEM offering with Rapid7 security solutions. Additionally, Rapid7 quadrupled its technology partner ecosystem. Leveraging Rapid7’s XML-based open API, Rapid7 certified additional integrations with partners in multiple adjacent markets including governance risk and compliance (Symantec, Agiliance, RSA Archer, Modulo), SIEM (ArcSight, Juniper, Enterasys, Symantec, RSA, netForensics, SecureWorks, Novell, Prism Microsystems) network topology (RedSeal, Skybox) and penetration testing (Metasploit and the ExploitDB).

Management Team Expansion

Driving product innovation and Company growth, the Rapid7 executive management team and Board of Directors was expanded to add more veteran talent to its leadership. Rapid7 welcomed the following industry experts:

Jeffrey Berger, executive vice president of engineering. Bringing more than 20 years of experience in the technology sector, including his role as vice president of engineering at RSA where he led the Company’s nearly 600-person globally-distributed engineering team. Berger joins Rapid7’s engineering research and development team; and,
Jack Sweeney, executive chairman of Apparent Networks, and Christopher Young, VMware vice president and general manager were appointed to Rapid7’s Board of Directors.

About Rapid7

Rapid7 is the leading provider of unified vulnerability management and penetration testing solutions, delivering actionable intelligence about an organization’s entire IT environment. Rapid7 offers the only integrated threat management solution that enables organizations to implement and maintain best practices and optimize their network security, Web application security and database security strategies.

Recognized as the fastest growing vulnerability management company in the U.S. by Inc. Magazine, Rapid7 helps leading organizations such as Liz Claiborne, the United States Postal Service, Carnegie Mellon University and Red Bull to mitigate risk and maintain compliance for regulations such as PCI, HIPAA, FISMA, SOX and NERC. Rapid7 also manages the Metasploit Project, the leading open-source penetration testing platform with the world’s largest database of public, tested exploits. To obtain a free download of NeXpose or Metasploit, please visit http://www.rapid7.com/resources/free-downloads.jsp.

For more information, visit www.rapid7.com.