Theale, UK 8th July 2014 – Following the publication of its latest Annual Review Clearswift, the leading innovator in critical information protection, discloses its financial and corporate progress during the past fiscal year. During the second year since its acquisition by Lyceum Capital, Clearswift has seen the highest level of net new bookings for four years, as well increasing revenues (£21.1m) and 23% EBITDA.
Clearswift completed the recruitment of its Executive team this year with the appointment of industry experts; a new Senior Vice President of Engineering, Maksym Schipka and Ciaran Rafferty as Worldwide Senior Vice President Sales.
Significant investment in research and development has resulted in a wealth of award winning technology launches this year, including the SECURE Exchange Gateway – Awesome Product of the Year, InfoSecurity Awards 2014 and Clearswift Adaptive Redaction – Highly Commended Innovation Award, SC Awards Europe 2014. In parallel with two defined strategic acquisitions, the Clearswift solution now integrates into a strong, single core value proposition for simplified and rapid end user adoption to protect an organisation’s most valuable asset, its critical information.
Heath Davies, Chief Executive at Clearswift says: “There is no doubt that this has been a transformational year for the business. We have invested heavily in product development and innovation – committing 22% of total expenditure to it - to ensure that the foundation of our solution is answering the needs of our clients. This commitment to R&D has been validated with our award-winning Adaptive Redaction and Secure Exchange Gateway solutions, as well as an increase in our gateway revenues by 10%.”
Davies continues: “We are now in a strong position to accelerate our growth and deliver on our three year plan. We have the global team in place, our solutions are receiving industry and analyst recognition, and we have ensured through our laser-focused acquisition targets that those solutions are market-leading in order to support our strategy to double the size of the business in the next three years.”
Organisations are increasingly aware of the need to protect their critical information. Drivers around this include the stark rise in data breaches, cyber-attacks and internal threats – as highlighted by Clearswift’s ongoing research ‘The Enemy Within’. CIOs and business leaders have corporate responsibility to satisfy regulatory requirements, ensure secure collaboration with the extended enterprise and protect the investment made in their acquisition and creation of intellectual property.
The introduction of new technology, new products and the way businesses want them to integrate has facilitated the introduction of the Clearswift Aneesya Platform. It has been developed and tailored to meet those requirements and will enable consistent policies across all communications channels.
Clearswift has maintained 95% recurring revenue through a combination of subscription and maintenance contracts, resulting in highly predictable and stable revenue levels. It has made a positive start to fiscal year 2015 with 30% of first quarter bookings related to the new products. Overall, Clearswift is showing growth on the global marketplace with over two-thirds of bookings coming from North America, Mainland Europe and Asia Pacific.
Martin Leuw - Chairman, comments: “The newly repositioned Clearswift now sits at the heart of today’s connected world where 100% visibility of critical information, 100% of the time is essential. We have made great strides this past year–consolidating an experienced team, strategic acquisitions and partnerships to accelerate technology innovations and growth, as well nurturing a loyal client base, providing market-leading technical services and a renewed focus on the channel; all the foundations for future growth and success.”