For the most part, today is a typical day at Flashpoint, which means that I’m overcome with gratitude. It is humbling to see how much our team has grown and accomplished — particularly during the last 12 months. At the start of 2016, Flashpoint was pushing, like many other vendors, to differentiate itself in the crowded cyber threat intelligence market. Our modest-yet-ambitious team was less than half the size it is today, and many of the departments and business functions we’ve come to rely on had yet to exist. Little by little, as we worked hard to attract top-tier talent, glean quality insights from impenetrable regions of the Deep & Dark Web, and redefine the market, we grew into who we are today: the global leader in Business Risk Intelligence (BRI).
Now that 2016 is behind us, I’d like to reflect on how far we’ve come and commend the people and achievements that have helped define Flashpoint’s most momentous year to date.
From smashing through financial targets to unearthing breaking research and innovating new technologies, our team’s top milestones from 2016 include:
• Flashpoint’s introduction of Business Risk Intelligence in July marks perhaps our most pivotal moment of 2016. BRI was borne from our ambitious goal to address the underserved cyber intelligence market in a way that reflects our customers’ diverse needs. While traditional applications of Deep & Dark Web intelligence are limited to bolstering cybersecurity, BRI also helps confront fraud, detect insider threats, enhance physical security, assess M&A opportunities, and address vendor risk and supply chain integrity. And, while we do leverage the open web when appropriate, we and our customers know it’s just the tip of the iceberg, as our approach to BRI delivers actionable insights about true, hidden threats to their organizations.
• Flashpoint’s mission of BRI was reinforced by our Series B funding round of $10 million, led by Greycroft Partners and joined by new investors Jump Capital and Leaders Fund. Existing investors TechOperators, K2 Intelligence, Bloomberg Beta, and Cisco Investments also participated. This funding bolstered our efforts to recruit top-tier talent and further develop our proprietary technologies and intelligence capabilities to help our customers obtain BRI more effectively.
• BRI’s widespread appeal has become even more apparent with the substantial growth and diversification of Flashpoint’s customer base to include leading organizations in Finance, Insurance, Telecommunications, Retail, Technology, Government, Healthcare, Law, Media, Manufacturing, Defense, Energy, and Aerospace. Our customers now represent:
• 7 of the top 10 global financial institutions
• 3 of the top 5 U.S. health insurance providers
• 3 of the top 10 U.S. retailers
• 4 of the top 10 U.S. media and telecom providers
• I’m proud to announce that in 2016, we broke our annual revenue record, more than doubled our year-over-year bookings, and closed our largest 1-year deal ever. This substantial milestone is a testament to not only the market’s accelerating adoption of BRI, but also of our team’s hard work, perseverance, and commitment to helping more organizations leverage intelligence derived from the Deep & Dark Web to make more informed decisions and mitigate risk across the enterprise.
While our customers are our priority at Flashpoint, we feel a duty to educate the public and share insights with peers. In 2016, we found ourselves with the immense honor of being able to contribute to public discourse on business risk much more broadly than ever before, reflecting our advancing capabilities and leading research. Some highlights include:
• Our published work surrounding the Mirai botnet and subsequent DDoS incidents offered the public a much deeper understanding both of the associated sources and risks. After the unprecedented attack against Dyn DNS, the company credited Flashpoint, as well as Akamai, for confirming the attack’s source of traffic.
• Senior Intelligence Analyst Vitali Kremez was selected to present at the NH-ISAC Fall Summit alongside Aetna’s Chief Security Officer Jim Routh and SecureWorks’ Joe Stewart to examine how the underground market for personally identifiable information is shifting trends in healthcare fraud.
• Reflecting how our approach to Business Risk Intelligence strives to change the way organizations address risk, Flashpoint was the only intelligence vendor named an SC Award U.S. 2017 finalist for Best Emerging Technology because our offerings “look to help shape the future by addressing fast-evolving threats”. Our nomination further validates Flashpoint’s expansion into BRI and also makes me incredibly proud of our team!
• Our joint research with Cisco Talos not only facilitated a proactive approach to mitigating threats posed by Flokibot Malware, it exemplified the benefits of collaboration and information-sharing when evaluating the intersection of cybercrime and business risk.
• Flashpoint’s value-driven pivot from cyber threat intelligence to Business Risk Intelligence (BRI) was recognized by CSO Online in the special feature: When your threat intelligence just isn’t producing value you need to pivot.
As I mentioned, the Flashpoint we know today exists because of our people. Our diverse team of white-hat hackers, multilingual maestros, and intelligence experts motivates me everyday. We more than doubled in size in 2016, and the key talent we’ve attracted to Flashpoint over the last year has been instrumental in shaping our success.
Specifically, I’d like to highlight the newest members of our leadership team. These transformative individuals have a wealth of industry experience, keen expertise, and a passion for Flashpoint’s mission:
• Brian Brown, VP of Strategic Accounts. Brian joined us in February and has quickly become invaluable in leveraging his business development skills and industry expertise to support Flashpoint’s customers.
• Chris Camacho, Chief Strategy Officer. Chris joined us in June, and his impressive tenure developing world-class intelligence teams at Bank of America has not only helped bolster our ability to serve Flashpoint’s financial clients, but also guided the direction and growth of our broader network and information-sharing community.
• Brian Costello, VP of Global Sales and Solution Architecture. Since coming onboard in August after leading public sector sales at Invincea, Brian has spearheaded our sales growth, become the driving force behind our record-breaking bookings, and enhanced our commitment to delivering BRI across the enterprise.
• Tom Hofmann, VP of Intelligence. Tom joined us in June after leading the cyber intelligence team at PNC. Over the last six months, our team of intelligence analysts has quickly become one of the most advanced and capable in the industry, which is clearly a testament to Tom’s leadership skills, passion, and enthusiasm.
• Jennifer Leggio, Chief Marketing Officer. Jennifer joined us in October to lead our marketing team and further accelerate the market’s adoption of BRI. Her nearly 20 years of industry experience at organizations including Fortinet and Sourcefire has been instrumental in revolutionizing our marketing strategy, earning Flashpoint an abundance of third-party recognition, and solidifying our position as the global leader in BRI.
• Jake Wells, VP of Customer Success. Jake has recently been promoted to Vice President of Customer Success. He first joined Flashpoint nearly two years ago after leading counterterrorism initiatives with the NYPD, and since then he has demonstrated unwavering dedication to helping our customers solve complex problems and mitigate risks throughout their organizations.
Looking ahead to 2017
Although 2017 is just barely upon us, I’m thrilled to introduce our first milestone of the year. Today we announced the appointment of Brendan Hannigan to Flashpoint’s Board of Directors. Brendan is an acclaimed industry leader with more than two decades of experience leading enterprise teams in the technology and security sectors at organizations including IBM Security, Q1 Labs, Sockeye Networks, Forrester Research, and Motorola. At Flashpoint, he will leverage his industry expertise and entrepreneurial acumen to enhance our mission of delivering BRI to more organizations across the enterprise. Now with Brendan’s strategic guidance to further enhance our upward momentum, the Flashpoint team is perfectly positioned and already moving full steam ahead into what promises to be yet another momentous year.
To our team, customers, and all others across the industry who work passionately to help mitigate the risks organizations face everyday, I wish you a very happy and healthy New Year!