Elevated risk of cyber attacks moving laterally from an executive’s personal life into the enterprise and growing threats to the privacy, finances, and reputations of high-profile individuals and their families among main drivers of company’s ascendance
BlackCloak, the first Concierge Cybersecurity & Privacy™ Protection Platform for Executives and High-Profile Individuals, today announced that it surpassed 3x year-over-year revenue growth for its fiscal year 2021. This significant milestone was achieved due to an above industry average client retention rate; more than 300% growth in annual recurring revenue and 270% growth in net new enterprise, individual, and family memberships.
In July, BlackCloak finalized an $11 million Series A led by TDF Ventures with participation from TechOperators and DataTribe. Since the capital infusion, the leader in digital executive protection has invested heavily in research, product development and talent acquisition. In total, BlackCloak grew headcount by 300% in 2021 across sales, marketing, DevSecOps, engineering, threat intelligence, and client service.
“2021 was a year in which many CISOs began to ring the alarm over cybercriminals more frequently targeting executives’ personal digital lives to breach the company, while high-profile individuals became increasingly distressed over the growing privacy and cybersecurity risks to themselves and their families,” said Dr. Chris Pierson, founder and CEO, BlackCloak. “With this attack surface expansion poised to prosper, companies and individuals alike are increasingly trusting BlackCloak for personal and executive digital protection. We are humbled by this awesome responsibility, and look forward to delighting our clients and ensuring their peace of mind in the years to come.”
Other BlackCloak 2021 milestones include:
● Recognition as a SC Media 2021 Trust Award Finalist and winner of the 2021 Global InfoSec Award for Digital Executive Protection
● Earned an overall net promoter score (NPS) score of nearly 3x greater than the industry average among B2B SaaS companies
● Successfully completed the Service Organization Control (SOC) 2 Type II audit, earning the company SOC 2 Type II certification
● Concierge and security operations center teams’ client ticket time more than 6x’s faster than the industry average
● Unveiled proprietary deception technology to catch adversaries’ brazen attempts to exploit a member’s privacy, personal devices, or home network
The need for digital executive protection
Enterprises are at elevated risk of cyber attacks moving laterally from an executive’s personal life into the company. This threat is one that CISOs cannot solve through technology, protocol, or policy – even if they wanted to. Likewise, cybercriminals are increasingly targeting the finances, identities, and reputations of high-profile and high-net-worth individuals and their families. For hackers, compromising this constituency is assessed as low risk, high reward.
To mitigate these burgeoning risks, BlackCloak has built the industry’s first SaaS-based Concierge Cybersecurity & Privacy Platform™. By combining proprietary software with white-glove client service, BlackCloak helps CISOs protect their company from lateral attacks by protecting executives’ privacy, personal devices and home networks. BlackCloak also empowers high-profile individuals to protect themselves and their families from financial fraud, identity theft, reputational damage, and cyberattack.
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