Customer renewal rate at 90% primarily driven by their superior product offering and focused approach in the application security market
NEW DELHI, India – February 19, 2015: Indusface, a leading provider of application security solutions for web and mobile applications,announced that it has achieved 125% year-on-year growth at the close of 2014. The major contributors to this growth have been key verticals like BFSI, IT/ITeS and Telecom.Indusface added 75 new clients in 2013-14, while in 2014-15 the number increased to 120.
“Indusface has made its mark as one of the leading providers of application security solutions. The unprecedented growth witnessed in the last one yearspeaks volumes about our delivery capabilities and commitment to our customers. The increasing security concerns of our customers have only made us strive harder to meet their changing needs,” says Mr Ashish Tandon, Chairman and CEO, Indusface.
The company also saw an extremely encouragingcustomer renewal rate of over 95% essentially due to superior product offering and customer service, he says.
Indusface claims that the key to their success is not only the ability to bring new clients on board, but more importantly keeping their existing customer base satisfied. Apart from BFSI, Enterprise and IT/ITeS/Telecom verticals, the other industry verticals addressed by Indusface include Government and Online Retail.
Elaborating further on the company’s plans for 2015, Mr Tandon said, “We intend to concentrate on other verticals as well in order for us to be able to gain the competitive edge across the market in all the verticals we have our presence in.Indusface plans to exploit the opportunities presented in the Government vertical due to Digital India initiatives and booming E-Retail/E-commerce sector.”
With their growth numbers soaring high, Indusface plans to cross the national boundaries and establish itself as a global brand.”After the overwhelming success of our products in India, we also plan to expand our reach by exploring other geographies such as US and Australia.” adds Mr Tandon.
Application Security has today become an integral part of the wide portfolio offered by Data Centers and IAAS (Infrastructure-as-a-Service) providers worldwide. Indusface offers support to IAAS providers to include Application Security as part of theiroffering.WhileIAAS provides a fantastic platformfor global outreach, from a technology perspective, such integrations areessential to address region–specific requirements. Hence, Indusface has developed IndusGuard WAF on the AWS.
Platform to provide cost effective application security along with continuous monitoring and expert tuning of applications.Indusface has also partnered with a regional data center in India to cater to the needs of Indian customers. Indusface plans to take the same approach with stronger technology integration for provisioning, billing, monitoring and management to expand their reach globally.