Coalfire Exceeds Company Growth Estimates in 2016
Investment in 2015 from The Carlyle Group & The Chertoff Group Fuels Growth for Cybersecurity Service Provider
WESTMINSTER, CO – November 16, 2016 — Coalfire, a leader in cybersecurity risk management and compliance services, today announced that it has experienced a 37 percent growth in bookings in 2016 driven by expanding its portfolio of cyber risk advisory, compliance assessment and technical testing services.
The announcement comes one year after Coalfire received a strategic investment from The Carlyle Group (NASDAQ: CG) and The Chertoff Group to rapidly expand its market presence, recruit top talent and enhance the CoalfireOne℠ platform that tech-enables the services Coalfire offers. In just the past year, Coalfire has added more than 500 new companies to its roster of over 1,500 customers. Customers have come to rely on Coalfire to define their roadmap for technology implementation, meet compliance mandates and test the efficacy of their processes and technologies. Coalfire’s growth has also included 131 new hires in 2016 alone.
“We selected Coalfire as a partner because of its reputation as one of the industry’s most effective firms in addressing the critical security risks that impact companies and individuals around the globe,” said Sam Sliman, Coalfire’s Chairman and an Operating Advisor with The Carlyle Group. “One year later, Coalfire continues to address the most complex emerging vulnerabilities by incorporating new and innovative approaches that mitigate risks for customers across a range of industries. Given Coalfire’s deep knowledge of emerging threats and their potential business impact, boards, internal auditors, and risk and compliance executives are increasingly relying on Coalfire to assess their cyber maturity and risks, and design programs to protect their most critical assets.”
Coalfire has solidified its role as a leader in validating and implementing encryption solutions to fight credit card breaches and protect personal information; providing authorizations to organizations engaging with the U.S. federal government through FedRAMP, FISMA, ITAR and CJIS; and offering cybersecurity services to companies leveraging hybrid or pure cloud-based solutions. Coalfire is now working with cloud service providers who command over 50% of the market – and leverage many of the most advanced cyber controls in the market today.
“The investment we received from The Carlyle Group and The Chertoff Group enabled us to further expand our footprint in key markets in North America and Europe, accelerate R&D and attract the best cybersecurity talent around the world,” said Kennet Westby, president and co-founder of Coalfire. “We are excited to expand upon this momentum and are focused on continuing to build comprehensive cyber programs that solve both strategic and tactical security challenges for our clients.”
Coalfire is the trusted leader in cybersecurity risk management and compliance services. Coalfire integrates advisory and technical assessments and recommendations to the corporate directors, executives, boards, and IT organizations for global brands and organizations in the technology, cloud, healthcare, retail, payments, and financial industries. Coalfire’s approach addresses each businesses’ specific vulnerability challenges, developing a long-term strategy to prevent security breaches and data theft. Coalfire has offices throughout the United States and Europe coalfire.com.