By focusing on advanced cybersecurity solutions, Appgate empowers organizations to not only respond to threats but anticipate them to better secure their complex hybrid infrastructures and build safer digital environments. Our new phase of growth highlights the significance of cutting-edge network security in an era where digital vulnerabilities are increasingly exploited.
A financial overhaul has positioned us for new strength in the competitive landscape. Our innovative product and service offerings set Appgate apart in providing effective Zero Trust Network Access and online fraud protection. Customer engagement strategies and market growth initiatives illustrate how Appgate continues to meet and exceed the demands of security-conscious organizations and IT professionals. And an unwavering commitment to innovation, security and customer-centric solutions is driving expansion to solidify our position as a leader in the cybersecurity industry.
FINANCIAL OVERHAUL AND NEW STRENGTH
Recapitalization Completion and Debt-Free Status
We recently announced the successful completion of a recapitalization, marking a significant milestone. This strategic move transitions Appgate to a private entity, setting a robust foundation for future growth and innovation in cybersecurity solutions.
Emerging debt-free from the recapitalization, Appgate now boasts a significantly strengthened financial position. With no corporate debt outstanding, we have enhanced capital reserves to expand operations and increase innovation investment.
To further solidify its financial position, Appgate secured additional equity financing from Magnetar, a prominent alternative investment firm managing over $15 billion[1] in assets. This crucial investment supports Appgate's ongoing efforts to fortify its platform and drive sustainable growth amidst increasing demands for comprehensive cybersecurity solutions.
PRODUCT AND SERVICE INNOVATIONS
Advancements in direct-routed Appgate SDP Universal ZTNA
Appgate has released Appgate SDP 6.3, the latest iteration of our award-winning Universal ZTNA solution. This version is engineered to transform enterprise and federal agency networks by strengthening security and safeguarding critical assets while minimizing operational costs. Key enhancements include improved agility, efficiency, and overall network security, which significantly boost business continuity and performance.
In addition, a newly incorporated AI-based risk engine in Appgate SDP 6.3 marks a significant technological advancement. This feature enhances the solution's ability to maximize resiliency, speed, and performance. By leveraging artificial intelligence, the Zero Trust platform risk engine facilitates early identification and neutralization of potential security threats, thereby elevating an organization's cybersecurity posture.
Launch of Malware Analysis Service
Appgate has also introduced a new malware analysis service. This service is specifically designed to identify and neutralize malicious software, effectively mitigating potential cyberthreats. It serves as a critical tool to enhance an organization’s ability to protect against and respond to cyber incidents promptly and efficiently.
Appgate’s malware analysis capability comprises two new services that allow resource-constrained security teams to submit potentially malicious files, hashes and URLs for investigation:
- Rapid Analysis uses automated systems to generate actionable insights in under 30 minutes.
- Deep Analysis extends Rapid Analysis automated reports with expert hands-on evaluation and reverse engineering for more obscure or emerging malware strains with detailed findings delivered typically in three days or less.
Both services produce in-depth reports on indicators of compromise (IOCs), contextual threat intelligence and practical insights to mitigate risk and protect business-critical assets.
CUSTOMER ENGAGEMENT AND MARKET GROWTH
Maintained Customer Experience
Throughout the transition to a private entity, Appgate has consistently prioritized maintaining a robust customer experience. This focus has ensured sustained engagement and satisfaction among existing customers. Leading brands that are included in Appgate’s impressive customer roster include DXC Technologies, Chewy, Nequi, ManTech, Datadog, Secureworks and FINRA. Additionally, our Appgate Federal Division serves a number of agencies across the Department of Defense (DOD) and the Defense Industrial Base sector.
Growing Market Demand
Demand for Appgate's products has seen a notable increase, driven by our reputation for delivering effective secure access and fraud protection cybersecurity solutions. This growing market demand underscores the critical need for advanced security measures in today's digital landscape, particularly in sectors handling sensitive information and managing complex hybrid IT, such as financial services, federal agencies, manufacturing, IT services and healthcare.
Notable New Business Deals
During the recapitalization process, Appgate secured significant new contracts. This included a substantial agreement with the Department of Defense to deliver authorized to operate, Common Criteria certified Appgate SDP Universal ZTNA to protect access for warfighters on the frontlines. This deal not only highlights the trust placed in Appgate's solutions but also marks a significant milestone in the company's expansion and presence in the cybersecurity market.
In Summary
Appgate secures and protects an organization's most valuable assets and applications. Appgate is the market leader in Zero Trust Network Access (ZTNA) and online fraud protection. Appgate products include Appgate SDP for Universal ZTNA and 360 Fraud Protection. Appgate services include threat advisory analysis and ZTNA implementation. Appgate safeguards enterprises and government agencies worldwide. Learn more at appgate.com.
[1] As of March 31, 2024.