Seattle, WA — March 16, 2016 – IOActive, Inc., the worldwide leader in research-driven security services, today announced its strongest business results in the company’s 18-year history, for the fiscal year ending December 31, 2015. The growth of IOActive’s security services business was predicated on ground-breaking research published by the company across multiple technology and vertical market segments. Additionally, expanded service offerings were inspired by the company’s thought leadership and investments in emerging security-centric markets, including smart cities, IoT (Internet of Things), connected vehicles and various other information and communication technologies (ICT).
Overall, the company achieved a 34% YoY (year over year) growth in sales. This was largely fuelled by substantial growth in key vertical markets where security-consciousness has continued to ascend dramatically, including Technology, Healthcare and Transportation, where IOActive grew its business by 81%, 58% and 43% respectively.
“The emergence of IoT is changing and evolving the global security landscape in nearly all industries,” said Jennifer Steffens, CEO of IOActive. “As the world continues to grow more connected, the need to design and architect security into companies and products has never been more vital in protecting data, devices and critical infrastructure.”
IOActive continued the geographical expansion of its business also, including opening its Abu Dhabi entity and a new hardware lab in Madrid, Spain in 2015. In all, IOActive grew its business by 100% YoY in the EMEA region, complemented by continued strong growth (30%) in North America.
Other key 2015 highlights included:
Cutting Edge Research and Thought Leadership
- New vehicle security research saw IOActive remotely disable a vehicle while it was being driven, highlighting critical security vulnerabilities introduced through a telecommunications component in the vehicle.
- New Satellite Communications (SATCOM) security research uncovered flaws within the maritime sector, namely vessels using Voyage Data Recorders (VDRs).
- Medical device security research revealed flaws in electroencephalography (EEG) technologies used by medical device companies.
Securing Smart Cities
Together with like-minded IT security organizations, such as Kaspersky Lab, Bastille and the Cloud Security Alliance, IOActive launched the Securing Smart Cities initiative. This new organization’s aim is to solve the cyber security challenges smart cities face through collaboration and information sharing. The group serves as a communications node for companies, governments, media outlets, not-for-profit initiatives, and individuals across the world involved in the creation, improvement, and promotion of smart and safe technologies for modern cities.
Expanding Service Practice Areas
- Internet of Things Assurance Services – the new service designed to help technology innovators protect the influx of IoT devices coming online, defend public and private sector organizations from related threats, and further empower the secure growth of smart cities.
- Transportation System Security – as the company’s automotive security research expanded, so too did the scope of services to organizations up and down the supply chains of transportation manufacturers and providers. The Transportation System Security practice provides services for all connected transportation – from automobiles and motorcycles to airplanes, trains and ships.
“2015 marked a year of aggressive investment and growth at IOActive in congruence with the continued ascension of global awareness to the importance of security being designed into products,” said Steffens. “With our expanding world class lab capabilities, an exciting and full research agenda, and even more new services planned to meet the ever-advancing needs of our clients, we are well positioned to see continued strong growth in 2016.”
IOActive is the industry’s only research-driven, high-end information security services firm with a proven history of better securing our customers through real-world scenarios created by our security experts. Our world-renowned consulting and research teams deliver a portfolio of specialist security services ranging from penetration testing and application code assessment to chip reverse engineering across multiple industries. IOActive is the only security services firm that has a dedicated practice focusing on Smart Cities and the transportation and technology that connects them. Global 500 companies across every industry continue to trust IOActive with their most critical and sensitive security issues. Founded in 1998, IOActive is headquartered in Seattle, US, with global operations through the Americas, EMEA, and Asia Pac regions. Visit www.ioactive.com for more information. Read the IOActive Labs Research Blog: http://blog.ioactive.com. Follow IOActive on Twitter: http://twitter.com/ioactive.