Forescout Closes Strongest Quarter in Company’s History
More Companies Recognize the Need for NAC; ‘Q3 Sales Not Impacted by Economic Downturn
Cupertino, Calif. – October 15, 2008 – Forescout Technologies, Inc., a leading provider of network access control (NAC) for Fortune 1000 enterprises and government organizations, announced today that it closed its strongest quarter in the company’s history. The third quarter ended September 30, 2008, with sales almost double what they were over the same period last year (also a record quarter), and 113% of quarterly plan. The current outlook for ‘Q4 also looks strong.
“While we remain cognizant of the waves of bad news about the U.S. and global economy, we are pleased to share our quarterly results," said T. Kent Elliott, CEO of Forescout Technologies. “Forescout has experienced its strongest quarter ever, delivering far above planned expectations. We have extended the global deployment of our CounterACT product. Feature enhancements have been added, each shaped by customers’ real-world deployment requirements. We are now realizing growth in markets where regulatory compliance and network access control are mission-critical."
Elliott continued: “Federal adoption of CounterACT’s NAC technology more than doubled year over year. The U.S. government and military combined now represent Forescout’s largest customer segment. Though talks of IT budget cuts persist, we believe regulatory sanctions placed on credit and lending agencies, and the requirement for stronger enforcements, could drive further adoption of our CounterACT products in the financial market. Clearly, in a time of national change and financial uncertainty, the need for better security and compliance solutions does not go away."
Forescout also announced this week that it is now protecting over 1.8M endpoints worldwide, and has unified and expanded its CounterACT portfolio of products to focus and better address customer requirements.
To recap quarterly successes: following the announcement of $8M in new funding early in the quarter, Forescout continued its momentum securing new customer engagements with Verizon, Haworth, Department of Defense, and Golden West College, to name a few. Forescout also announced a new partnership agreement with McAfee, enabling integration of the McAfee ePolicy Orchestrator ® (ePO™) with CounterACT for enterprise security and compliance management. Forescout also expanded its product line with the release of its CounterACT v. 6.3 Payment Card Industry (PCI) Compliance Kit, providing Forescout customers with a solution for streamlining the PCI audit process.
Media coverage and more detailed customer stories for Forescout’s largest third-quarter successes can be found at //www.forescout.com/news/index.html.
About Forescout Technologies, Inc.
Forescout is the leading provider of access control and compliance solutions. With top-tier customers from every vertical, Forescout has perfected the art of providing strong access control without disrupting network operations or needlessly punishing end users. Forescout’s flagship product, CounterACT, protects over 500 of the world’s most secure enterprises and military installations with global deployments spanning 37 countries. The CounterACT family of products provides a path to complete security policy enforcement and is fast and easy for administrators to deploy, manage and maintain. For more about the company and its products, visit www.forescout.com.