Frost & Sullivan Honors Seclore for its Impressive User Base Growth in the Enterprise Rights Management Market
Seclore’s data-centric security solution enables secure outsourcing and collaboration with third-party vendors, advisors, prospects, and contractors
MOUNTAIN VIEW, Calif. — June 22, 2015 — Based on its recent analysis of the enterprise rights management (ERM) market, Frost & Sullivan recognizes Seclore with the 2015 Global Frost & Sullivan Award for Growth Excellence Leadership. Seclore has taken a fresh engineering approach to data security by transparently protecting a wide variety of data types in the native context of corresponding productivity applications. It has combined its novel solution with a savvy go-to-market strategy that combines thought leadership with strong partnerships, pre-built integrations, and aggressive globalization efforts.
From a business perspective, Seclore is strategically focusing on underserved segments with high-growth potential, such as:
- Small- and medium-sized businesses (SMBs), including specific departments within large tier-1 enterprises
- Specific verticals like banking, financial services, insurance (BFSI) and manufacturing
- Specific applications for safeguarding personally identifiable information in financial services and protecting intellectual property in manufacturing
- The lucrative government and intelligence (G&I) vertical
From a technology perspective, Seclore’s innovative solution features a virtualization engine that provides a near-native experience. Seclore has also focused heavily on making rights management easy to deploy and use including browser-based access to secured documents, robust identity federation, automated user-onboarding, and pre-built connectors to dozens of content management, data-loss prevention, and ERP systems. Seclore also shows leadership with their ability to support more than 60 file formats in their native application.
“Seclore has made aggressive strides in the ERM market, even as leading vendors are in the midst of redefining and rebranding their ERM solutions, and some middle-tier vendors are actually easing back on their investments in the space,” said Frost & Sullivan Principal Analyst Avni Rambhia. “Frost & Sullivan’s research revealed that of all emerging vendors in the ERM market, Seclore was most often considered a key competitor by current market leaders across a number of market segments.”
Seclore also took a growth rate leadership position in terms of the number of net new users added. Belying its market nascence, Seclore doubled its user base from the time of its product rollout in 2010 to approximately 4 million in 2014—a growth that is comparable with other tier-II vendors. Importantly, it is expected to grow at a similar pace in 2015. Further growth is expected from its partnerships with virtual data room software as a service (VDR SaaS) providers; with Sharepoint and IBM to protect files downloaded from their ECM systems; and with SAP to protect data downloaded from their ERP offering.
Apart from serving a varied clientele covering the verticals of BFSI, technology, business service, and manufacturing, Seclore is also geographically well diversified. Currently, North America accounts for approximately a third of its revenues and is expanding quickly, while Western Europe generates almost half of the revenues, and Rest-of-World contributes the rest. The company boasts 400+ clients across over 29 countries. This diversity is an important contributor to the company’s ongoing growth in revenue and user base.
Seclore invests heavily in market education and building appreciation for the value proposition of ERM technologies through white papers, face-to-face meetings, and several use cases related to business processes. Notably, Seclore evangelizes the concept of ERM and secure external collaboration as much as it markets its own solution. This helps create the brand perception of a thought leader and partner, which, in turn, improves customer trust in Seclore’s solution and its recommendations.
“By crafting a low-cost, easily deployed solution that fits numerous use cases with relatively low overheads, Seclore has dramatically expanded its user base over the last two years and is poised for continued growth in 2015,” noted Rambhia.
Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in growth and customer value. It recognizes the superiority of the product/service as well as the overall customer, purchase, ownership and service experience offered, which has resulted in the recipient company seeing above-market growth and increased share of wallet. The award lauds the growth, diversification and sustainability strategies of the company.
“The most exciting companies to partner with are those that have an inspirational zeal for growth. Seclore has demonstrated such a focus in the enterprise rights management market by targeting specific customer segments, competing effectively, and carving out a unique, sustainable market position,” said Frost & Sullivan Global President & Managing Partner Krishna Srinivasan.
Frost & Sullivan’s Best Practices Awards recognize companies in a variety of regional and global markets for outstanding achievement in areas such as leadership, technological innovation, customer service, and product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research.
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Seclore offers an innovative information-centric security solution, FileSecure, which enables organizations to control usage of files wherever they go, both within and outside of the organization’s boundaries. The ability to remotely enforce and audit who can view, edit, copy, and re-distribute files empowers organizations to embrace mobility, file-sharing, and external collaboration with confidence.
Easy to deploy and use, Seclore extends the security of DLP, ECM, ERP and Mail/Messaging solutions to information that move beyond the perimeter. Seclore was recently recognized by Frost & Sullivan with a Growth Excellence award, Gartner as a ‘Cool Vendor,’ and by Deloitte as one of the ‘50 Fastest Growing Technology Companies’ due to innovations in agentless receipt of protected documents. With over 4 million users across 400 companies in 29 countries, Seclore is helping organizations achieve their data security, governance, and compliance objectives.