“Egress’ success over the past five years has been underpinned by our market-leading security tools that have helped customers in the UK and North America mitigate the considerable compliance and data security risks associated with sharing sensitive data,” Egress CEO Tony Pepper said.
“Inevitably, as we continue to grow and expand, we find ourselves working with enterprises across mainland Europe, something that has been accelerated by the introduction of GDPR 12 months ago. For industries such as government, financial services, healthcare and professional services, there is increasing pressure to comply with data privacy and security regulations, whilst managing a heightened security threat. The stakes have never been higher!”
“As part of this expansion, it was hugely important that we selected the right location to drive our European growth. With its investment in technology and the innovation community it is fostering, Amsterdam represents the ideal centre for this,” concluded Pepper.
With 95% of C-level IT professionals concerned about insider threats, staff causing data breaches both intentionally and unintentionally pose a significant risk to organisations. Recognising this, Egress has developed an intelligent, people-centric data security platform that uses machine learning to understand the potential risk of a data breach in order to apply the necessary levels of security to shared information. In addition, powerful auditing and reporting capabilities enable business administrators to identify and report on data shared across their email networks to ensure compliance with GDPR.
As a result, Egress experienced significant growth in 2018, increasing new SaaS subscriptions by 64%, with a 93% renewal rate—demonstrating the loyalty of the company’s customer base, and the strength and trust in its people-centric platform. In December 2018, the company received $40m in Series C funding, led by private equity firm FTV Capital, to support its rapid growth. “Having demonstrated the value of our solution in the UK and North America, it is inevitable that demand for our technology in mainland Europe will increase,” stated Axel van Drongelen, Egress General Manager for Benelux. “As in the UK, the introduction of GDPR means European organisations are increasingly balancing greater demands for regulatory compliance with managing the sophisticated risk of insider threats. Egress’ track record and reputation for delivering innovative data security solutions across other existing markets demonstrate we are well-positioned to support them in meeting these challenges and achieving their business goals.”