Achievements Accelerate Substantial Momentum in Addressing Compounding Regulatory Mandates for Complex Multi-Cloud Environments
JERSEY CITY, N.J., April 19, 2023 – ThreatModeler, a leader in threat modeling from code to cloud, today announced the results of a monumental fiscal year 2023, which saw the company’s customer base grow by 50% and recurring revenues increase by 35% year-over-year. The company was also recognized by five separate industry award programs, bringing home six Gold, Silver, and Finalist designations. ThreatModeler drove this success through a busy year of product enhancements and new company offerings, all of which focused on making threat modeling accessible, easier, and more powerful for organizations of all sizes.
ThreatModeler 6.0 represented a customer-centric redesign of the platform’s interface, workflows, model building, and reporting based on user feedback over time. Further, ThreatModeler Community was launched in November 2022 to provide practitioners with an aggregated source of thought leadership, peer conversations, and technical resources. The fast-evolving community already has 400+ articles and 300+ active users. Finally, a first-of-its-kind cybersecurity asset marketplace, Threat Model Marketplace™, was launched in January 2023 and offers pre-built, field-tested threat models to be downloaded and incorporated into new and ongoing threat modeling initiatives.
“We deeply understand the role threat modeling plays in ensuring security and compliance, which is why we have put intense effort into removing the challenges faced when organizations incorporate threat modeling activities into their development processes,” said Archie Agarwal, Founder and CEO, ThreatModeler. “Our customer-centric approach has led to new partnerships with two of the largest global consulting firms and a 105% net customer renewal rate year-over-year. We’re proud of what we’ve achieved in FY2023 and look forward to building on this momentum in the coming year.”
ThreatModeler was also honored across the industry award landscape, earning recognition through six awards over the last year. In April, ThreatModeler was selected as a Gold Globee winner for the “Cybersecurity Project or Initiative of the Year” category in the Globee 19th Annual 2023 Cyber Security Awards. In March, CyberSecurity Excellence Awards 2023 recognized ThreatModeler as a Gold winner in both the “Threat Modeling” and “Best Cybersecurity Startup” categories. The company was also selected as a Finalist for the “Security Innovation of the Year” category of the 2023 Cloud Awards, and the “Best Threat Intelligence Technology” category of the 2022 SC Awards. Finally, ThreatModeler earned a Silver Stevie Award for “Best Cloud Platform” as part of the 20th Annual American Business Awards.
“Our research shows that more than 71% of IT leaders feel labor and skills shortages mean their teams should seek more automated solutions within the software development lifecycle,” said John Steven, Chief Technology Officer, ThreatModeler. “Patented features like threat model nesting and automated control planning enable users to quickly and easily simulate their real controls and build complex threat models for applications for everything from cloud and web to IoT and embedded devices. As the industry’s only automated threat modeling platform for the cloud, we are uniquely positioned to meet the needs of the market and the coming mandates referenced from Executive Order 14028 and NIST’s 8397. ”
About ThreatModeler Software, Inc.
ThreatModeler Software, Inc.’s suite of products empowers DevOps to measure their threat drift from code to cloud. With a fraction of the time and cost tied to other tools, users can design, build and validate threat drift from development to deployment. Teams can instantly visualize their attack surface, understand security requirements and prioritize steps to mitigate threats. CISOs can make critical security-driven business decisions to scale their infrastructure for growth.
Clayton Murtle, Lumina Communications