World News: 09:00 GMT Wednesday 15th May 2019. [Egress via Businesswire via SPi World News]
Egress, the leading provider of people-centric data security solutions, today announced its official launch into the Benelux market. The company, which helps organizations receive, manage and share information securely, has selected Amsterdam as the location of its mainland Europe headquarters due to the city’s reputation for technical innovation and access to an ecosystem of top data security specialists.
“Egress’ success over the past five years has been underpinned by our market-leading security tools that have helped customers in the UK and North America mitigate the considerable compliance and data security risks associated with sharing sensitive data,” Egress CEO Tony Pepper said.
“Inevitably, as we continue to grow and expand, we find ourselves working with enterprises across mainland Europe, something that has been accelerated by the introduction of GDPR 12 months ago. For industries such as government, financial services, healthcare and professional services, there is increasing pressure to comply with data privacy and security regulations, while managing a heightened security threat. The stakes have never been higher!”
“As part of this expansion, it was hugely important that we selected the right location to drive our European growth. With its investment in technology and the innovation community it is fostering, Amsterdam represents the ideal center for this,” concluded Pepper.
With 95% of C-level IT professionals concerned about insider threats, staff causing data breaches both intentionally and unintentionally pose a significant risk to organizations. Recognizing this, Egress has developed an intelligent, people-centric data security platform that uses machine learning to understand the potential risk of a data breach in order to apply the necessary levels of security to shared information. In addition, powerful auditing and reporting capabilities enable business administrators to identify and report on data shared across their email networks to ensure compliance with GDPR.
As a result, Egress experienced significant growth in 2018, increasing new SaaS subscriptions by 64%, with a 93% renewal rate—demonstrating the loyalty of the company’s customer base, and the strength and trust in its people-centric platform. In December 2018, the company received $40m in Series C funding, led by private equity firm FTV Capital, to support its rapid growth.
“Having demonstrated the value of our solution in the UK and North America, it is inevitable that demand for our technology in mainland Europe will increase,” stated Axel van Drongelen, Egress General Manager for Benelux. “As in the UK, the introduction of GDPR means European organizations are increasingly balancing greater demands for regulatory compliance with managing the sophisticated risk of insider threats. Egress’ track record and reputation for delivering innovative data security solutions across other existing markets demonstrate we are well-positioned to support them in meeting these challenges and achieving their business goals.”
Egress takes a people-centric approach to data security – helping users receive, manage and share sensitive data securely to meet compliance requirements and drive business productivity. Using machine learning, Egress ensures information is protected relative to the risk of a data breach and reduces user friction to ensure smooth adoption.
Trusted by enterprise organizations and governments around the globe, Egress’ award-winning platform provides email encryption, secure file transfer and online collaboration services, as well as risk management, accidental send prevention, and compliance auditing and reporting.
Egress is headquartered in London, with regional offices in the UK, the US, Canada and the Netherlands.
Business Wire: 09:00 GMT Wednesday 15th May 2019
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