Press Release

Posted on January 16, 2018 by Proficio

Proficio Projects Rapid Increase in Market Share After Record-Breaking 2017

CARLSBAD, CA – January 16, 2018 – Proficio, one of the world’s fastest-growing global managed security service providers (MSSP) delivering managed detection and response (MDR), closed out a record-breaking 2017 and projects to double revenue and market share in 2018. Having accomplished significant growth through operational expansion and client acquisition, Proficio has acquired additional funding to release multiple new service offerings and is set for a prosperous new year.

Proficio’s award-winning SOC-as-a-Service offering will be enhanced with new solutions, including interactive dashboards to give clients unparalleled access and information into security threats within their environment. Having clients in nearly every industry, Proficio plans to expand vertical solutions to meet cybersecurity needs of organizations worldwide. The company’s 2018 plans include a significant expansion of their global presence in Asia Pacific, Europe, and Latin America through direct and strategic channel partnerships.

“I’m incredibly proud of the milestones we achieved as a team in 2017.  As a company we’ve generated so much momentum this past year and have truly built a world-class organization,” stated Tim McElwee, president of Proficio. “Our unique approach has created a highly-efficient business model that has us poised to make monstrous gains in 2018.  We will not rest until we are the first choice in cybersecurity services for organizations worldwide.”

Here’s a look back at Proficio’s 2017 Highlights:

Global SOC Expansion

In May 2017, Proficio announced the opening of its third security operations center (SOC) located in Barcelona, Spain. The expansion enabled Proficio to better support clients and businesses in EMEA and to continue providing around-the-clock monitoring and alerting capabilities worldwide. In addition to the Barcelona SOC, Proficio increased its global presence in Atlanta, United Kingdom, Italy, Germany, Australia, Singapore and Hong Kong.

Growth and Customer Acquisition

Proficio reached record-breaking sales in 2017 and extended the streak of 28 consecutive quarters of recurring revenue growth. Substantial gains were fueled by an increase in client base, which was highlighted by industry leading organizations in legal, online retail, and finance sectors. The array of industry additions helped diversify Proficio’s growing portfolio and increased the company’s vertical capabilities.

Enhanced Service Offerings

In 2017, Proficio added to their growing portfolio of service offerings to include Incident Response, expanded vertical solutions, and robust managed services for Splunk®. Managed services for both Splunk Enterprise and Splunk Enterprise Security solutions were launched offering fully managed or co-managed service models. Proficio has created hundreds of custom Splunk use cases and correlations rules to further enhance the service offering.

Continued Investor Support and Partnerships

To support its continued growth, Proficio raised a second round of funding by key investor group, Kayne Anderson Capital Advisors, L.P.  The firm has invested more than $20 million in Proficio over the course of two years. Proficio also forged many new successful partnerships with global organizations including ePlus, Nescia, Splunk, Microsoft, and Tiscali.

Industry Recognition

Proficio’s efforts in 2017 were noticed by cybersecurity trade journals and other industry watchers who included the company in multiple leading industry reports by Gartner, IDC and Forrester. This industry recognition helped cement Proficio’s status as a global cybersecurity services provider.

About Proficio

Founded in 2010, Proficio offers the full range of cybersecurity services including managed detection and response (MDR), 24×7 monitoring and alerting, security assessments, and consulting through global security operations centers in San Diego, Barcelona and Singapore. Proficio’s innovative approach to managed cybersecurity services uses proprietary processes, experienced security analysts, and the industries most advanced technologies to help organizations defend against advanced threats. www.proficio.com