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AuthenWare Announces Record Growth in 2010

Leading Keystroke Dynamics Vendor Continues Momentum with Expansion of Customer Base, Global Reach and Solution Offering During FY2010

 

MIAMI, FL (January 19, 2011) - AuthenWare®, a leading cybersecurity software provider, today released highlights of its business performance for the fiscal year ended December 31, 2010. Driven by customer acquisition and expansion of its flagship multi-factor identity authentication software, the company achieved more than 130% revenue growth as compared to the same period in 2009. AuthenWare also dramatically increased the number of licensed users of its software to over 75 million people during 2010.

 

During the last 15 days of its fourth quarter, the company sold over 600,000 licenses to private and public sector organizations such as Wasatch Front Regional Multiple Listing Service (WFRMLS), operator of the top-rated Utahrealestate.com website, ISDEFE, the Information Technology division of the Spanish Ministry of Defense, The Government of the City of Buenos Aires in Argentina, the Largest Ecuadorian Bank and others.

 

Throughout 2010, the company attracted new enterprise-class customers from a variety of industries, including financial services, telecommunications, real estate services, media and online retail. Moreover, numerous existing customers continued to expand their deployments of AuthenWare's software, leading to both add-on license and services transactions for the company during the year. The AuthenWare technology incorporates keystroke dynamics, a form of behavioral biometrics, to recognize valid users and to stop identity theft, web fraud and other system intrusions.

 

"We executed successfully on our plan to focus on customer growth and success, product innovation and global expansion throughout the past year," said Tom Helou, President and COO of AuthenWare. "We are very excited about the customer opportunities in front of us in 2011. The growing cyberthreats reinforce our will to help protect companies and consumers alike from the stain of identity theft, web fraud and other malicious intrusions."

 

A summary of AuthenWare's results for the twelve months ended December 31, 2010 include the following:

 

  • Operational Growth: Grew revenue by more than 130% percent as compared to the same period in 2009.

 

  • Customer Acceptance: During the year achieved numerous strategic customer wins and client "go-live" deployments of AuthenWare's security solution around the world. In the fourth quarter alone the company saw a dramatic surge in government-related business across the globe in terms of both civilian and defense agencies.

 

  • Product Innovation: Introduced significant product enhancements and capabilities to the security marketplace through the release of AuthenWare version 2.0, the next generation of the company's zero-footprint approach towards user validation, authentication and early fraud detection. Additionally, the company introduced new pre-packaged product integrations to Windows 7, Outlook, Juniper Networks' SA Series SSL VPN and Citrix Systems CAG, NetScaler and XenApp.

 

  • Independent Certification: During 2010, AuthenWare's identity authentication software received certification from the International Biometric Group (IBG) (validating accuracy and usability) and Common Criteria (certifying data storage protection mechanisms and standards). The company is currently the only keystroke dynamics vendor to have achieved this standing.

 

  • Global Distribution: Expanded global sales and support ecosystem with 10 new regional partners and resellers located in Latin America, Canada, Africa, the Middle East, UK, Europe, and South East Asia.

 

  • Technology Partnerships:  In 2010, AuthenWare announced new strategic technology relationships with Juniper Networks and Citrix Systems. It also continued to expand its existing relationships with enterprise vendors such as Oracle and Microsoft.

 

  • OEM Relationship: Announced a major OEM agreement whereby global Government Resource Planning (GRP) software company FreeBalance will integrate AuthenWare into and deliver it with its GRP Accountability Suite to support the unique and evolving security requirements of the government market.

 

About AuthenWare

AuthenWare® Corporation is a leading cybersecurity software provider focused on fighting identity theft for large enterprises, government organizations, small and medium-sized businesses and consumers. The Company's innovative tokenless authentication system delivers strong security through a combination of keystroke dynamics, behavioral and environmental characteristics to minimize identity theft, web fraud and other system vulnerabilities. The AuthenWare solution creates a unique personal security pattern that recognizes authorized users while keeping hackers out. AuthenWare is headquartered in Miami, FL, with offices around the world. Tens of millions of people use the company's products every day in a variety of industries, including financial services, government, healthcare, telecommunications and online retailers. For more information, visit http://www.authenware.com.

 

AuthenWare is a registered trademark of AuthenWare Corporation. All other company/product names and service marks may be trademarks or registered trademarks of their respective companies.

 

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