Demand for API attack protection platform spurs highest-ever quarterly new business bookings
BOSTON – April 12, 2022 – ThreatX, the leading API protection platform, today announced a record first calendar quarter of 2022, reinforcing the company’s significant success in delivering both business results and advanced API security capabilities. In Q1, ThreatX achieved record-breaking new business bookings, increased the average revenue per customer and received multiple industry awards.
“Our Q1 results prove that ThreatX’s one-of-a-kind ability to block attacks in real-time is what security teams need to defend against sophisticated adversaries,” said Gene Fay, Chief Executive Officer at ThreatX. “As the need for strong API protection grows, our team has worked tirelessly to ensure that ThreatX’s security capabilities stay ahead of increasingly sophisticated threats.”
ThreatX’s first quarter accomplishments include:
- Grew new business bookings nearly 400% year over year – making it the largest quarter for new bookings in the company’s history
- Grew new business and expansion bookings nearly 400% over Q1 2021, demonstrating traction within the company’s install base
- Increased new customer average selling price by 111% compared to Q1 2021
- Stayed on track to maintain a net dollar retention rate of more than 120%
ThreatX is squarely positioned ahead of other API security vendors by enabling real-time blocking of complex attacks, such as botnets and multi-mode attacks, targeting APIs. By applying artificial intelligence and machine learning, ThreatX can identify even the slightest indicators of suspicious activity, and immediately respond based on risk. This is a key differentiator compared to post-attack API anomaly detection tools.
Blocking Millions of Threats Per Day in Q1 2022
In Q1 2022, ThreatX continued to protect customers against sophisticated attacks, including massive botnets and DDoS attempts. Over the course of the quarter, ThreatX:
- Processed an average of 950 million requests per day
- Blocked an average of 11.75 million threats per day
- Blocked an average of 130 individual threats per second
Industry Recognition in Q1 2022
Additionally, ThreatX was recognized in early 2022 by multiple industry awards for outstanding product capabilities. These accolades included recognition from the Globee Cyber Security Global Excellence Awards and the Cybersecurity Excellence Awards for categories focused on web application security and firewalls, API management and security, bot defense, and overall innovation.
The company will be exhibiting its new and upcoming capabilities at the 2022 RSA Conference, at booth #3205 at Moscone South Expo. For more details about the company’s participation at RSA Conference, click here.