Varonis updated its data security platform to give clients more visibility into how users are connecting to corporate networks, accessing data, and using collaboration platforms like Office 365 and Microsoft Teams. The platform now provides customers with real-time awareness of top remote work risks, like blacklisted countries with active VPN connections or privileged accounts accessing suspicious websites.
The company also carried out its first-ever acquisition, scooping up Polyrize to map and analyze relationships between users and data across a number of cloud applications and services. Wall Street has rewarded Varonis for these investments, sending the New York-based company’s stock price up by 85 percent thus far in 2020 to $144.36 per share on a valuation of $4.51 billion.
The company’s offerings have also gained more traction with the market, with year-over-year sales expected to grow by 11 percent in 2020 to $281 million. Varonis has beefed up its workforce to support the increased demand, with headcount increasing by 6 percent over last year to 1,609 employees, with the most aggressive hiring taking place in the company’s support and engineering organizations.