It’s been a busy and exciting few months at Flashpoint. In July, we set some ambitious Q3 2016 goals, which included everything from industry-specific sales targets and key hiring strategies to product roadmap milestones. However, one critical mission quickly became the driving force behind everything we sought to accomplish: help as many organizations as possible benefit from Flashpoint’s Deep & Dark Web intelligence.
Three months and countless learning opportunities later, I’m incredibly proud to announce that we have broken our revenue record to make Q3 our best sales quarter ever. I’d like to take this opportunity to commend everyone on our team for their incredible contributions — from our engineers to our analysts to marketing and sales — and reflect on how we got here.
We started Q3 highly motivated to address an issue that has long plagued the industry: the underserved cyber intelligence market. This issue exists primarily because cyber threat intelligence (CTI) — the industry “standard” — was developed solely to help cybersecurity teams identify technical indicators of compromise, which alone don’t help these teams improve their security. Likewise, CTI doesn’t support other business functions, many of which would benefit from intelligence derived from the Deep & Dark Web. Admittedly, we historically fell into this gap — not with our offerings but in the way we talked about what we deliver. It was time to think beyond CTI. We had to change the narrative — not only for us, but for the good of the market.
This is the realization that bore Flashpoint’s expansion into Business Risk Intelligence (BRI), which delivers relevant intelligence across the enterprise in a way that helps all business functions make more informed decisions and mitigate risk. Aside from 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.
Before we could formally introduce BRI, we had to position our business to define and enter this new market. To accelerate this expansion, we were thrilled to close our $10 million Series B round, led by Greycroft Partners and joined by new investors Jump Capital and Leaders Fund. Our existing investors TechOperators, K2 Intelligence, Bloomberg Beta, and Cisco Investments also participated. This financing has reinforced our ability to execute on our BRI strategy as we strive to reinvent what cyber intelligence means to businesses and public sector organizations alike.
With our substantial momentum, we’ve also been able to attract and recruit top-tier talent to support our business and, more importantly, our customers. In particular, I’d like to introduce one new and noteworthy contributor to our Q3 sales success: Brian Costello, Flashpoint’s Vice President of Global Sales and Solution Architecture. Brian, a 20-year industry veteran, recently joined our team after holding senior leadership roles at Invincea, Risk Analytics, Verizon, and Cybertrust. As BRI presents countless opportunities for sales growth across new industry verticals and business functions, we are especially excited to have Brian onboard to spearhead these initiatives. In his short time since joining Flashpoint, Brian has become an invaluable team leader dedicated to helping us deliver value to our customers and serve the market. He explains:
“I joined Flashpoint based on the strength and expertise of the team, as well as the opportunity to be on the front lines of the fight against cybercrime and terrorism. Few companies are as entrenched in the early stages of a potential attack as Flashpoint. There is an enormous need for companies to provide relevant data and intelligence that enables organizations to measure threats and cyber risk across all lines of business. So far, Flashpoint is the only company to rise to the challenge. Our record-breaking Q3 and sustained growth are strong indicators of BRI’s widespread appeal.”
Leveraging our BRI strategy, Brian has been instrumental in driving new avenues of customer acquisition, and of course, our Q3 revenue. Largely comprised of Fortune 500 companies and government agencies, Flashpoint’s robust customer base continues to expand across verticals such as finance, retail, insurance, healthcare, law, media, energy, technology, telecommunications, and defense.
With a successful Q3 behind us, I am even more confident in our team’s ability to execute with strength in Q4 and into 2017. Flashpoint’s Deep & Dark Web intelligence delivered as BRI will continue to help increasing numbers of organizations make more informed decisions, mitigate risks, and protect themselves across the enterprise.