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1TOUCH.IO ACHIEVES RECORD-BREAKING GROWTH IN FIRST HALF OF 2024
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News provided by
1touch.io
Aug 14, 2024, 08:00 ET
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Company Doubles Revenue, Secures Major Deals, and Launches Industry-First
Enterprise DSPM Solution for All Environments
NEW YORK, Aug. 14, 2024 /PRNewswire/ -- 1touch.io, the leading provider of
enterprise Data Security Posture Management (DSPM) solutions for all
environments, today announced a record-breaking first half of 2024, doubling its
revenue compared to the previous year. This growth was driven by the addition of
major new blue-chip customers in financial services, insurance, retail, and
hospitality, as well as the successful launch of its groundbreaking Mainframe
Security Posture Management product. The newly released product has already been
adopted by a Fortune 100 multinational financial services organization,
underscoring its market differentiation.
As enterprises confront increasing data sprawl and complex security challenges,
1touch.io's Contextual AI-powered solutions deliver unmatched visibility,
control, and protection across on-premises, mainframe, hybrid, and multi-cloud
environments.
Exceptional Financial Performance
1touch.io's financial performance in the first half of 2024 was exceptional. The
company surpassed last year's bookings within six months and closed the largest
deal in its history in June. The acceleration in new revenue bookings highlights
the growing demand for enterprise-grade DSPM solutions that address complex data
security challenges.
"We are thrilled with our record-breaking growth and the strong market demand
for our leading enterprise Data Security Posture Management solutions," said
Ashish Gupta, CEO and President of 1touch.io. "1touch.io's unique approach to
providing contextual visibility into sensitive data has transformed how Fortune
100 companies leverage our platform to orchestrate their digital transformation,
responsible AI, compliance, privacy, governance, and security initiatives."
Why Enterprise DSPM is Crucial Now
Gartner predicts that through 2027, 50% of critical applications will reside
outside of centralized public cloud locations, complicating data management and
security. As the market evolves, cloud-based DSPM providers are increasingly
unable to meet comprehensive security needs. These solutions often provide
limited visibility into structured cloud data, fail to manage unstructured data
and data in motion, and leave gaps in data source coverage, scanning depth, and
actionable insights. They also neglect critical enterprise data across
on-premises systems, mainframes, and hybrid environments.
Key challenges with traditional DSPM solutions include:
* Limited Coverage to Cloud-Only Data Sources: Leaves on-premises and mainframe
data unprotected.
* Lack of Contextual Intelligence: Results in high false positives within
business processes.
* Inadequate Real-Time Capabilities: Offers static snapshots that are stale the
next day, creating risk.
* Limited Integration with Installed Enterprise Security and Governance
Tools: Creates operational silos and less effective business processes.
1touch.io's Enterprise DSPM Approach
These shortcomings are driving the market toward more robust solutions, as
evidenced by recent 1touch.io customer wins. 1touch.io's enterprise DSPM
approach uniquely provides contextualized visibility, enabling prioritized
actions. Built on advanced data discovery and classification, deep AI-powered
insights, and a robust policy engine for remediation, this comprehensive
approach ensures enterprises can manage and secure their data across all
environments, including on-premises, cloud, and mainframe.
Key advantages of 1touch.io's enterprise DSPM approach:
* Continuous Discovery of Any Data: Provides visibility and control across all
data environments.
* Contextual Classification: Utilizes advanced AI to enrich data with context
and intelligence.
* Dynamic Intelligence: Delivers real-time data discovery and classification.
* Segment of One: Creates a single contextualized record for comprehensive data
intelligence and orchestration of prioritized actions.
* Fully Extensible: Offers out-of-the-box integration with existing enterprise
tools for a cohesive strategy.
Customer Trust and Retention
The company also announced zero customer churn, with every customer renewing
their license, highlighting the effectiveness, reliability, and value of
1touch.io's solutions. "Our customers trust us to protect their most sensitive
data, and our high renewal rate is a testament to the value we deliver," Gupta
added.
Delivers Product Innovation Where 68% of Mission-Critical Data Resides:
Mainframes
Often overlooked but still highly relevant, mainframes are central to the AI
revolution, processing 68% of the world's critical production IT workloads.
1touch.io's recently launched Mainframe Security Posture Management (MSPM)
product expands the company's enterprise-focused DSPM capabilities. MSPM
seamlessly integrates core mainframe systems with modern hybrid cloud
environments, managing all types of data, both at rest and in motion.
MSPM delivers industry-leading accuracy, continuous monitoring, and contextual
insights, ensuring that mission-critical information managed by mainframes is
fully leveraged in enterprise AI and generative AI initiatives. By unlocking and
integrating mainframe data across all enterprise environments, MSPM enhances
data visibility, security, and compliance.
About 1touch.io
1touch.io, the leading provider of enterprise Data Security Posture Management
(DSPM) solutions for all environments, is transforming data discovery and
classification for large enterprises. Our AI-driven platform, Inventa™,
safeguards the data of over 500 million individuals worldwide, offering
contextual intelligence for robust data protection and enhanced security posture
across diverse enterprise environments, including mainframes. Through our
strategic OEM partnership with IBM, Inventa is licensed and globally rebranded
as IBM Security Discover and Classify, demonstrating its robustness in handling
complex data challenges at a global scale.
For media inquiries:
Vicky Harris
Email: Vicky.harris@1touch.io
1touch.io and Inventa are registered trademarks of 1touch.io. All other
trademarks and registered trademarks are the property of their respective
owners.
SOURCE 1touch.io
×
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