PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

Lyceum’s Clearswift sees seven per cent rise in revenue

Lyceum Capital portfolio company Clearswift has seen a seven per cent rise in revenue to GBP20.8m, 85 per cent revenue visibility, of which 94 per cent is recurring though subscription and maintenance along with a 25 per cent increase in average size of new deals. 

 
During this financial year (ending March 2013) Clearswift has seen a 215 per cent increase in EBITDA to GBP4.7m. 
 
The appointment of chief executive officer Heath Davies (pictured) in October 2012, with his strong track record of growing international technology businesses, strengthened the company’s senior management team.  With the backing of the majority shareholders Lyceum Capital, Davies is leading the strategic acquisition programme to complement organic growth plans.
 
Davies says: “This past year has been about consolidation and re-focusing the business – as a result we now have a strong, global senior management team in place and have refined our focus on specific markets.  We have invested significantly in our technology roadmap which has been led by our senior vice-president product Dr Guy Bunker; this will set apart our offering as it is unveiled in the coming months. “
 
The demand for enterprise security solutions is being accelerated by the use of mobile and personal devices at work (BYOD) and the storage of data in the cloud meaning that data breaches or leakage is seen as a major operational risk – Gartner estimates that the market for Data Loss Prevention (DLP) will reach GBP436m this year.   
 
Martin Leuw, chairman, says: “Enterprises, regardless of sector or size, are rapidly waking up to the risks, as well as the opportunities, that have arisen from the advances in mobile technology. Digital security is now a strategic agenda item as relevant to the board as it is to the IT manager. To address this, we are building on Clearswift’s strong heritage in its flexible policy engine and deep content inspection capabilities, so that organisations have far greater visibility of where their valuable content is going to and who is seeing it."
 
Recently, Clearswift conducted an independent research project, “The Enemy Within”, to investigate the extent to which internal security threats are affecting UK organisations and how these are being managed. The research produced some surprising results with the top three security threats being human error (87 per cent), lack of awareness/ understanding of IT security practices (82 per cent) and introduction of viruses via personal devices (82 per cent). The research is now being extended globally.
 

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured

Blackstone Private Equity