theDocumentId => 1130206 Tufin Technologies Triples Revenue, Doubles ...

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1/20/2009
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Tufin Technologies Triples Revenue, Doubles Customer Base In 2008

To support the growing demand for firewall auditing and security change automation solutions Tufin is continuing its corporate expansion

Ramat Gan, Israel and Burlington, Massachusetts, January 20, 2009 - Tufin Technologies, the leading provider of Security Lifecycle Management solutions, today announced its sales for fiscal year 2008 tripled over the previous year, with a record sales growth of 3,200% since 2005. In 2008, Tufin had its fourth consecutive cash flow positive year and has experienced rapid customer-base growth, securing new contracts with many Fortune 1000 companies. To support the growing demand for firewall auditing and security change automation solutions Tufin is continuing its corporate expansion. Tufin has doubled its headcount this year, launching US east coast and west coast operations and opening new offices in The Netherlands and Italy. In 2008, Tufin also doubled its number of channel alliance partners from 52 to 110, signing key agreements with Dimension Data and Computerlinks in Europe, and AccessIT Group, Accuvant, Akibia, Cadre, CipherTechs and Nexum in the US.

2008 highlights Over the past 12 months, Tufin has achieved the following milestones: * Tripled its sales over 2007 o Sales growth in the past four years (since 2005) has reached 3,200% * Profitable in 2008, capping a fourth consecutive cash-flow positive year * More than doubled number of customers, from 120 to 280 * Shipped over 130 Tufin appliances, having launched the Tufin appliance program in late 2007 * Announced and launched new product - SecureChange Workflow, the industry's first Security Lifecycle Management solution * Doubled number of channel partners, from 52 to 110 * Successfully launched Tufin's North American operations, with 400% revenue growth in North America year over year * Strengthened the management team, with Steve Moscarelli as VP of Sales, Americas and Yoram Gronich as VP of Research and Development * Named a "Pioneer for Security Lifecycle Management" by analyst firm Frost & Sullivan * More than doubled headcount, from 20 to over 40 * Achieved 5/5 stars in SC Magazine product review

"Demand for security management solutions has increased exponentially worldwide. Tufin's solutions answer this need and improve business critical processes, making the daunting task of securing complex networks much easier," said Ruvi Kitov, CEO for Tufin Technologies. "We continuously strive to provide our customers with the best possible products and unparalleled customer service. Through the implementation of SecureTrack and SecureChange Workflow our customers realize immediate and significant ROI. The tangible benefit gained by our customers is one of the major components to which we attribute our continuous growth."

"Tufin's performance in 2008 clearly establishes it as the main player in the Security Lifecycle Management category and paves the way for additional growth in 2009," said Bruce Tucker, President of Patriot Technologies, Tufin's channel partner. "Even in the current financial climate and with serious IT budget cut backs, network security and regulatory compliance are both critical areas that large Enterprises cannot afford to cut back on."

About SecureTrack Tufin SecureTrack(tm) is the market-leading Security Operations Management solution. SecureTrack enables organizations to enhance security, reduce service interruptions and automate day-to-day tasks through powerful firewall management capabilities and reporting. SecureTrack helps security operations teams to control and manage policy changes, analyze risks, and ensure business continuity and allows managers to easily understand the big picture and align operations with corporate and government security standards.

About SecureChange Workflow Tufin SecureChange(tm) Workflow is a unique change management solution designed specifically for security policy change requests. SecureChange Workflow manages the entire lifecycle of a policy change request, from submission through design, risk analysis, approval, implementation and auditing.

About Tufin Technologies Tufin Technologies is the leading provider of Security Lifecycle Management solutions that enable large organizations to enhance security, ensure business continuity and increase operational efficiency. Tufin's products SecureTrack(tm) and SecureChange(tm) Workflow help security operations teams to manage change, minimize risks and dramatically reduce manual, repetitive tasks through automation. With a combination of accuracy and simplicity, Tufin empowers security officers to perform reliable audits and demonstrate compliance with corporate and government standards. Founded in 2003 by leading firewall and business systems experts, Tufin now serves over 280 customers around the world, including leading financial institutions, telecom service providers, transportation, energy and pharmaceutical companies. For more information visit www.tufin.com.

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