SAN ANTONIO--(BUSINESS WIRE)--Security Awareness Training and Human Risk Management company AwareGO today announced company milestones achieved and overall performance for 2021, including record year-over-year online revenue growth of 219%, enterprise revenue growth of 156%, and total revenue growth of 116%.
“AwareGO is unparalleled in the industry when it comes to making a client's workforce cyber-secure through training and awareness-building that produces measurable and positive impact,” said Chief Executive Officer Dr. Ari Jónsson. “Our solution offers a pioneering way to measure employee awareness and behavior across a range of cyber security threat areas, combined with a unique approach to training that is loved by users and proven to increase cyber security awareness and change behavior. This leaves the company very well positioned to continue the rapid growth of its customer base and revenue in 2022. We are looking forward to an exciting year that is already off to a fantastic start.”
Company and Culture
In August, AwareGO welcomed its new chief executive officer (CEO), former NASA Ames Center research scientist and Stanford alumni, Ari K. Jónsson, Ph.D. Jónsson will be leading the company through its next phase of rapid growth and expansion, which includes a future Series A funding round to support the company’s product development and to scale its global sales and marketing efforts. Former CEO and company co-founder Ragnar Sigurdsson remains with the company as head of Research and Development.
AwareGO continues to experience steady growth across the globe. Today, the company has 26 full-time employees across the USA, Iceland, the Czech Republic, and Croatia. Eyrir Venture Management is the company’s largest financial backer, supporting the company diligently for nearly three years.
Customer Growth and Retention
AwareGO continued to demonstrate a near-perfect customer retention rate of 99%. Monthly active users grew by 200% and monthly recurring revenue grew by 116%. Over half of AwareGO's customers come from industries that are number one targets for cybersecurity attacks, including finance and insurance as well as manufacturing and energy.
In the oil and gas industry, as corporate leaders have begun to recognize the importance of assessing and managing human risk in cybersecurity and properly training the workforce, they have increasingly found AwareGO’s solution to be the right fit to address those issues.
Additionally, AwareGO’s small-and medium-sized enterprise (SME) clients appreciate the ease with which they can implement AwareGO; the ability to purchase the entire solution online means that assessment and training can start immediately and at the company’s convenience. As a result, AwareGO experienced over 200% growth in the SME sector.
AwareGO Launches Groundbreaking Human Risk Assessment
In 2021, AwareGO made significant investments in product development. In December, the company launched its new and industry-leading product, Human Risk Assessment (HRA) for Enterprise. Created by cybersecurity experts, behavioral scientists, and interaction designers, the product continuously observes top human threat vectors, identifies vulnerable departments and roles, and offers actionable insights to create informed security strategies to improve a company’s overall cyber defense and reduce cybersecurity risks.
AwareGO’s HRA product-market fit and scalability has already been implemented by a multi-billion global food company, which rolled out the solution for use and testing to more than 70,000 of its employees and contractors. AwareGO has continued to improve HRA’s already exemplary performance through additional training content production in the form of more than 70 microlearning videos and assessment questions for new and established threat areas. In addition, HRA now supports 18 languages, 9 of which are fully localized.
Partner Program
AwareGO’s partner program has also already garnered positive attention and engagement, with program revenue growing close to 75%. The company currently has 30 partners in its network and is providing services to well over 300 companies through the network.
Awards
AwareGO was the recipient of numerous industry accolades in 2021:
- Gartner: Representative Vendor in the 2021 Gartner Market Guide;
- SC Awards Europe 2021: Highly Commended, Best Behaviour Analytics/Enterprise Threat Detection Category;
- Global InfoSec Awards for 2021: Winner, Editor’s Choice Award in Cybersecurity Education for Enterprises;
- CyberTech100 2021: Included in the list of the world’s top 100 most innovative CyberTech companies that every financial institution needs to know about in 2021.
Plans for 2022
Heading into the coming year, AwareGO will continue to focus on growing the company and strengthening its HRA solution. The goals for company growth will include pursuing a round of Series A funding, enacting a stronger market push, and expanding the U.S sales team as well as the customer success and engineering teams.
AwareGO’s HRA product improvements will include stronger integration with phishing simulation, attack surface management, security information and event management, and managed security service providers and learning management system platforms. Along with HRA’s existing ease of integration, these enhancements will help businesses add human risk measurement into their cybersecurity strategies and to build up resilience.
About AwareGO
AwareGO is a global provider of human cyber risk and awareness solutions that help enterprises, and SMEs identify, quantify and remediate the human risk factor when it comes to cybersecurity. To date, AwareGO has successfully trained more than 8 million employees worldwide. Based in Iceland, the company has locations in the United States, Czech Republic, and Croatia. For more information, visit awarego.com.
