(MENAFN- PR Newswire)
Company Doubles Revenue, Secures Major Deals, and Launches Industry-First Enterprise DSPM Solution for All Environments
NEW YORK, Aug. 14, 2024 /PRNewswire/ --
1touch, 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's Contextual AI-powered solutions deliver unmatched visibility, control, and protection across on-premises, mainframe, hybrid, and multi-cloud environments.
Exceptional Financial Performance
1touch'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. "1touch'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's Enterprise DSPM Approach
These shortcomings are driving the market toward more robust solutions, as evidenced by recent 1touch customer wins. 1touch'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'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'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'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
1touch, 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, InventaTM, 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.
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Vicky Harris
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1touch and Inventa are registered trademarks of 1touch. All other trademarks and registered trademarks are the property of their respective owners.
SOURCE 1touch
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