WhiteHat Security celebrates successful 2008

Company sees record sales, corporate growth


SANTA CLARA, Calif., Jan. 13 /PRNewswire/ -- WhiteHat Security, the leading provider of website security solutions, today announced record sales and corporate growth through 2008 due to increased customer adoption of its flagship WhiteHat Sentinel product family. As organizations struggle to maintain a strong security posture with shrinking resources, WhiteHat Sentinel has become the solution of choice for total website security at any budget level. The Company reported record sales quarter-to-quarter over 2007 and record annual revenues in 2008. WhiteHat executives as well as WhiteHat Sentinel were recognized in multiple award programs and industry publications throughout the past year.

In 2008, WhiteHat joined forces with leading Web application firewall (WAF) vendors, including F5 Networks and Breach Security, to offer a new approach to website risk mitigation. The integration of WhiteHat Sentinel with Breach and F5(R) WAFs were the first of their kind and allowed joint customers to deliver automated, real-time protection against application-level threats. The joint solutions were announced in the spring and summer of 2008 and garnered immediate market acceptance from customers and industry analysts.

"Website security is a daunting, unrelenting challenge for today's organizations," said Stephanie Fohn, chief executive officer, WhiteHat Security. "We strive to provide the most complete, cost-effective website security solutions possible, and are thrilled that continued demand for WhiteHat Sentinel allowed us to close a record year in 2008."

2008 highlights include:

-- Expanded executive roster and market leadership: WhiteHat grew to 60 employees in 2008, which included appointing Kevin Overcash to the VP of product management post and naming OWASP global board member Tom Brennan the company's Eastern US channel relationship manager. WhiteHat also launched its Education Services Division in 2008, which has been hailed across the industry for its effectiveness in arming security and development professionals with skills necessary to combat complex website security issues. Additionally, WhiteHat secured $7 million in Series D financing in June to expand its infrastructure to address the demands of a rapidly growing market for Web application security solutions.

-- Corporate recognition: WhiteHat CEO, Stephanie Fohn, achieved finalist status in the 5th Annual Stevie Awards for Women in Business, honoring her leadership as a female executive. The Company's CTO, Jeremiah Grossman, was highlighted in a December 2008 slideshow from Baseline, which listed Grossman as one of "10 security researchers making a difference." WhiteHat also placed in the top ten of Deloitte's Technology Fast 50 Program for Silicon Valley, achieving 2502% revenue growth over five years from fiscal year 2003-2007.

-- Product recognition: The integration of WhiteHat Sentinel with the F5(R) BIG-IP(R) Application Security Manager(TM) (ASM(TM)) Web Application Firewall was exclusively honored in the Web application security category of the Bank Technology News FutureNow List 2008, which recognizes "10 companies that set themselves apart with security innovations they brought to market in the past year." WhiteHat Sentinel also achieved finalist status in the 2009 SC Magazine US Awards Program for the Best Web Application Security Solution and Best Integrated Security Solution categories.

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