Portnox Sees 30% Year-Over-Year Growth in Revenue in 2020
NEW YORK, NY – February 2, 2021 – Portnox, a leading provider of network access control (NAC) and network security solutions, today announced that its revenues grew by 30% year-over-year from 2019 to 2020. The surge in revenue is primarily driven by the global cross-vertical adoption of Portnox CLEAR. As the first and only cloud-delivered NAC solution on the market, Portnox CLEAR offers simple and fast deployment of network authentication and segmentation based on cloud repositories such as Azure AD and Okta, as well as other classic on-premise directories.
“Despite a challenging year due to the COVID-19 pandemic, we were able to show strong gains in 2020,” said Ofer Amitai, Portnox CEO. “We saw the immense value Portnox CLEAR brought to our customers in action throughout the year – as the service helped to block remote access attacks and prevent lateral movement inside networks with its powerful segmentation capabilities.”
The pandemic served as a de facto catalyst for the adoption of enterprise cloud technologies in 2020. According to Gartner, the proportion of IT spending that is shifting to cloud will accelerate in the aftermath of the COVID-19 crisis.1
“In order to adapt to the new reality of corporate operations in 2020, businesses had to be agile. This meant allowing for work-from-anywhere policies, which exposed companies to an ever-expanding landscape of cybersecurity threats,” commented Amitai. “There’s been a noticeable awakening to the flexibility, scalability, and effectiveness of cloud security solutions like Portnox CLEAR as business operations remain in flux due to COVID-19.”
“We are seeing a growing trend of companies replacing their legacy on-premise NAC solutions with Portnox CLEAR’s cloud NAC service, as it offers the flexibility and simplicity required by many companies these days,” said Tomer Shemer, Vice President of Products at Portnox.