Barracuda Accelerates Growth in Email Protection

Barracuda_MSP_logo Key Innovations in Detection and Response Beyond the Email Gateway Drive Increased Adoption

Campbell, Calif. (July 25, 2019) –

Highlights:

    • Barracuda saw strong performance through Q1 FY2020, primarily driven by key product innovations in its email protection solutions, which included 440 percent year over year growth in sales bookings of Barracuda Sentinel.

    • Barracuda Essentials, the company’s all-in-one email security, backup and archiving service, saw 46 percent growth in sales bookings year over year.

    • Annual recurring revenue (ARR) for Barracuda MSP’s email protection business grew 122 percent year-over-year.

    • Barracuda’s email protection business has grown to more than a $200 million annual revenue run rate in FY2019, which ended February 28, 2019.

Barracuda Networks, Inc., a trusted partner and leading provider of cloud-enabled security solutions, today announced accelerated growth for its email protection business for FY2019 with a $200 million annual revenue run rate and accelerating growth for Barracuda Sentinel, the company’s advanced technology that leverages API integration to protect businesses from spear phishing, account takeover, business email compromise, and fraud. Driven by innovations in detection, response, and automated cleanup to counter the increased sophistication of email threats that occur beyond the gateway, Sentinel sales bookings grew 440 percent year-over-year at the end of Q1 FY2020.

Email protection is a notable growth vector in the managed service provider market as well. Barracuda MSP, the MSP-dedicated business unit of Barracuda, saw annual recurring revenue for its email protection business grow 122 percent year-over-year for Q1 FY2020.

“We are excited to see this solid momentum across our email protection business,” said BJ Jenkins, CEO of Barracuda. “Our product pipeline is strong, offering customers email protection beyond traditional gateways to safeguard employees and organizations. We are focused on continuing to expand our award-winning portfolio with comprehensive, easy-to-use solutions to protect against socially-engineered, targeted attacks like business email compromise and account takeover.”

According to Gartner: “The email security market is starting to adopt a continuous adaptive risk and trust assessment (CARTA) mindset and acknowledge that perfect protection is not possible. As a result, vendors are evolving or emerging to support new detect and response capabilities by integrating directly with the email system via API.”1

Market conditions are also a significant factor in the growing demand for email protection as threats continue to proliferate and have a major impact on businesses of all sizes. A Barracuda report released today found that 82 percent of surveyed IT security professionals have faced email attacks over the past year. 74 percent of those surveyed advised that these attacks are having a direct business impact in the form of lost productivity (48%), downtime (36%), damage to ITs reputation (28%), recovery costs (20%), and more.

Recent Barracuda Email Protection Financial Highlights:

Recent Barracuda Email Protection Business Highlights:

  • Customers: Barracuda serves more than 65,000 email security customers worldwide. New customers include DL chemicals, Stad Oostende, Raetsheren van Orden B.V., and Fischer Automobile GmbH.
  • Mailboxes: More than 2 million Microsoft Office 365 mailboxes are monitored and protected by Barracuda Sentinel.   

Recent Barracuda Email Protection MSP Highlights:

  • MSP Email Protection Sales Growth:
    • Annual recurring revenue (ARR) for Barracuda MSP’s email protection business grew 122 percent year-over-year, for Q1 FY2020.
    • The fastest growing part of the MSP email protection portfolio is Security Awareness Training, which had sequential ARR growth of 22 percent in May 2019.
  • Managed Workplace Innovation:
    • In February 2019, Barracuda acquired Managed Workplace, a security-centric remote monitoring tool, to further enhance its growing MSP-focused solution offering.
    • In June 2019, an updated integration was released that utilizes the Microsoft Graph API to provide visibility into Office 365 users, mailboxes, access levels, and other account information for easier and more comprehensive management.

Recent Barracuda Email Protection Innovation Highlights:

  • Total Email Protection: Offered with a single SKU that is easy to buy, implement, and use, this bundled solution provides defense against socially engineered business email attacks, fraud, and account takeover, and includes Barracuda Essentials, Barracuda Sentinel, and Barracuda PhishLine
  • Forensics and Incident Response: Available to Barracuda Total Email Protection customers, the solution automates incident response and provides remediation options, helping organizations address issues in a faster, more proactive way.
  • Integrated Domain-based Phishing Protection:
    • Through API integration with Forensics and Incident Response, Barracuda Total Email Protection customers now have an enhanced ability to seamlessly protect across the two most common threat vectors: email and web. Malicious domains received through emails can now be detected and automatically blocked for all users, and DNS phishing protection, leveraging Barracuda Content Shield, provides a more unified threat management response against advanced attacks.     

    Recent Barracuda Email Protection Industry Recognition

    Recent Customer Quotes:
    “Barracuda Forensics and Incident Response allows us to find the emails that slip through the other filters and remove them as needed,” said Rick Cahoon, Director of Enterprise Security and Support at Wilbur-Ellis. “Knowing who received the malicious email in our enterprise is now available in the same tool. When a suspicious email is reported, we can begin to and sometimes completely remediate the environment quickly. We can identify which users received the email, which users clicked on any malicious links, and block future emails from the malicious account — all in the same interface. Barracuda Forensics is a big win for our IT and security teams.”

    “Keeping up with evolving threats like account takeover and spear phishing can be a challenge because the threat landscape changes so quickly,” said Denny Bono, IT Manager, American Crane & Equipment. “With Barracuda’s innovative approach to email security, we feel confident that their solutions will provide the protection we need. Barracuda’s cloud integration with Office 365 is an important feature for us, helping us add layers of protection that fit the way our organization does business.”

    “The threat landscape is continuously evolving, and Barracuda’s innovative solution for enterprise email security is customizable and flexible in meeting our existing and future needs,” said James Haggarty, IT Networks and Security Manager, The National Autistic Society. “Their strong cloud integration with O365 is helping protect our thousands of users by providing multiple layers of email protection against serious attacks like spear phishing and account takeover.” 

    “Email security is a top priority for us, especially protecting our business from growing threats like spear phishing and account takeover,” said Naveen Verma, Manager – IT, Daikin Airconditioning India Private Limited.  “Barracuda provides the innovative security solutions we need to feel confident these concerns are being addressed appropriately as email threats evolve. Barracuda’s Office 365 integration is a key component for us because it helps us weave security into the way our teams work.”

    Get more information about Barracuda’s email protection portfolio: https://www.barracuda.com/products/email_protection

    Resources:

    Read the blog posts:

    Read the report:

    1 Gartner: Market Guide for Email Security, Published 6 June 2019, Neil Wynne, Peter Firstbrook

    About Barracuda

    At Barracuda we strive to make the world a safer place. We believe every business deserves access to cloud-enabled, enterprise-grade security solutions that are easy to buy, deploy, and use. We protect email, networks, data and applications with innovative solutions that grow and adapt with our customers’ journey. More than 150,000 organizations worldwide trust Barracuda to protect them — in ways they may not even know they are at risk — so they can focus on taking their business to the next level. For more information, visit barracuda.com

    Barracuda Networks, Barracuda and the Barracuda Networks logo are registered trademarks or trademarks of Barracuda Networks, Inc. in the U.S. and other countries.


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