Q4 2008 closes with record growth, bookings increase 80% over Q4 2007
London, January 20, 2009 - Fortify Software, the market leader in Software Security Assurance solutions, announced today that it achieved record growth in Q4 2008, finishing a strong fiscal year 2008 with the largest quarter in company history. Most notably, Fortify increased its bookings in Q4 2008 80% over Q4 2007. The company’s success is driven by significant new business growth in the commercial and government sectors, adding 49 new customers in Q4 alone, growing their customer roster to more than 500 commercial enterprises and government agencies. In addition, Fortify saw the U.S. Air Force expand its purchase of Fortify solutions to over $11M, further increasing the industry’s largest investment in software security.
“At a time of such economic uncertainty, when we see others in the market struggling for viability, it is especially gratifying to have a strong showing at the end of 2008,” commented John Jack, president & CEO of Fortify Software. “Despite the trying economic climate, we are seeing increased investment in software security by forward thinking companies who realize the business risk associated with insecure software continues to rise. Our customers understand that now is no time to skimp on security.”
"As a leading provider of bank-centric solutions and payment services worldwide, it is imperative that the software we offer is fundamentally secure," said Jeff Schilling, Chief Technology Officer of S1 Enterprise. "Today's compliance requirements and the increasing threats to enterprise applications demand a proactive strategy for addressing software security - Fortify's technology and approach for implementing software security assurance aligns well with our global security vision."
Highlights of the quarter include:
- Achieved 80% growth in bookings over Q4 2007
- Named Jim Yares as Fortify Software’s Vice President, Global Services
- Increased customer roster to over 500 enterprise customers
- Added 49 new customer agreements with major global telcos, banks, insurance and pension companies, systems integrators and armed forces, including:
- eBay, Inc.
- S1 Enterprise
- China Construction Bank
- Defense Logistics Agency
- U.S. Army Knowledge Online
- Federal Reserve Bank of Atlanta
- Conventry Building Society
Fortify’s record showing in Q4 finishes off what has been a strong 2008 overall. This year, Fortify marked the release of its cornerstone software security product, Fortify 360, as well as made key additions to both its Board of Directors and executive team. The company received accolades from the analyst community, having been recognized as the global leader in the application security market by both Gartner/Dataquest and Bloor. Additionally, the company continued its industry-leading work in open source software security, expanding the Java Open Review to include more than 100 projects and releasing its “Open Source Security Study” on the state of open source software security. Fortify also continued its efforts around e-voting security, with 5 states making use of a free version of its security software to test their electronic voting machines, and with the release of “Voting in America,” a report on the current state of U.S. voting systems.
“2008 has marked a turning point in software and application security,” noted Jack. “Organizations are increasingly aware of the changing threat landscape and recognize the need to secure their business-critical software against malicious attack. It is our mission at Fortify to continue to provide the services and technologies they need to achieve their long-term software security goals.”
Fortify®’s Software Security Assurance products and services protect companies from the threats posed by security flaws in business-critical software applications. Its software security suite—Fortify 360—drives down costs and security risks by automating key processes of developing and deploying secure applications. Fortify Software’s customers include government agencies and FORTUNE 500 companies in a wide variety of industries, such as financial services, healthcare, e–commerce, telecommunications, publishing, insurance, systems integration and information management. The company is backed by world–class teams of software security experts and partners. More information is available at www.fortify.com.