Cyber Security

NetSPI Achieves 58% Organic Revenue Growth in 2022

NetSPI Achieves 58% Organic Revenue

Following momentous year of global expansion and technology advancements, offensive security leader announces innovation group and strategic appointments

NetSPI, the leader in enterprise penetration testing and attack surface management, today announced a record fiscal year, achieving 58% organic revenue growth in 2022. The growth is attributed to the company’s strategic expansion into Europe, Middle East, and Africa (EMEA), and an enhanced portfolio of offensive security offerings.

In 2022, NetSPI launched its Attack Surface Management (ASM) platform and blockchain penetration testing solutions, and made significant updates to its Breach and Attack Simulation (BAS), further solidifying the company as a market leader. During the banner year, NetSPI added more than 300 new clients to its roster, which includes nine of the top 10 U.S. banks, three FAANG companies, top cloud providers, four of the five largest healthcare companies, and several Fortune 500 brands.

To support the company’s growth, NetSPI also hired more than 230 employees, some of which were trained through its NetSPI University program, and promoted over 170 staff members, addressing the industry’s talent gap head-on. The company’s commitment to career development is one of many reasons why it was honored in the 2022 Top Workplaces USA, Top 200 Workplaces in Minnesota, and Cultural Excellence awards.

“Over the past year, NetSPI has challenged the status quo in the cybersecurity market, pushing the envelope to deliver new, enhanced, continuous offensive security solutions – and the industry has taken note,” said Aaron Shilts, CEO of NetSPI. “As we forge ahead in 2023, our team will continue to innovate to improve the security posture of organizations worldwide, powered by our customer-first approach to security.”

Introducing NetSPI Labs, an Innovation Incubator for the Security Community
Building on its recent momentum, NetSPI has formalized NetSPI Labs, a dedicated innovation group designed to deliver industry research to the security community and develop new solutions for the cybersecurity and vulnerability management challenges organizations face.

NetSPI has appointed three Vice Presidents of Research, Karl Fosaaen, Nick Landers, and Scott Sutherland, to lead NetSPI Labs. They bring decades of experience in security testing, product and service line development, and adversarial research.

“NetSPI Labs is a game-changer for the industry. This innovation engine will enhance cross team collaboration to identify the white space in offensive security, and how NetSPI can best deliver on unmet needs,” said Charles Horton, Chief Operating Officer at NetSPI. “The team will share resources and research with the security community, furthering industry collaboration to stay one step ahead of adversaries.”

NetSPI Appoints Norman Kromberg as Chief Information Security Officer
NetSPI also announced the appointment of Norman Kromberg as its Chief Information Security Officer (CISO). In this role, he will oversee the company’s security operations and architecture.

Kromberg brings more than 30 years of experience in cybersecurity, information assurance, risk management, and software quality and compliance, previously holding security leadership positions at companies such as SouthernCarlson, Optiv, and ACI Worldwide. He also brings knowledge of the company’s business processes from his prior role as a Managing Director at NetSPI.

“It is a pivotal time for NetSPI, as the company continues its rapid growth and innovates at accelerated speeds,” said Kromberg. “Security is paramount to NetSPI; it is in its DNA. This role further showcases the company’s commitment to staying ahead of bad actors and securing our clients. I’m excited for this next chapter with the company.”

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