Earlier this month, The Channel Companies' well-respected tech industry journal, CRN, listed Ten Cybersecurity Companies that have been making moves and breaking news. The informative article, researched and penned by Kyle Alspach, listed a lineup of trusted security companies and reported on recent corporate moves or strategic initiatives they have undertaken. Those familiar with ETR will not be surprised to learn there was a significant amount of overlap between CRN's reporting and our Emerging Technology Survey (ETS) and Technology Spending Intentions Survey (TSIS) data. In this article, we take a look at the crossover between CRN's list and ETR's industry-leading spending and evaluation data, focusing on CrowdStrike, Snyk, Saviynt, and ArcticWolf.
CrowdStrike. At the moment, CrowdStrike is a classic story of the rich getting richer, with the leader in EDR / XDR continuing to gain momentum among enterprise customers and in talent; as CRN reports, two leading executives from rival SentinelOne have recently joined the company. Poaching the Chief Marketing Officer and Chief Product Officer from your main competitor is a calculated shot across the bow, especially for a company that is already dominating the marketplace, according to ETR data.
In the most recent January 2023 Spending Intentions Survey (TSIS), which captured spending intentions data from more than 1,300 IT decision makers (ITDMs) CrowdStrike's Net Score (a measure of forward-looking spending) led all information security vendors that we track (survey citation >50). In addition, CrowdStrike's Net Score ranks as the fourth highest among all public companies ETR tracks across the entire survey universe. In the most recent report, the ETR research team maintained a Positive rating on CrowdStrike's data set. You can read the full report here or log in to the ETR Platform to see the entire suite of spending and competitive intelligence data.
Snyk. Next up, CRN reports on the double dip fundraising round for one of the hottest security start-ups in the universe, Snyk. The company recently raised a Series G round of $196.5 million with a slightly lower valuation than its previous series F (albeit still above $7 billion in total valuation) only to quickly announce an additional investment from SaaS giant ServiceNow for an extra $25 million. With the tongue-in-cheek caveat that it's hard to consider yourselves an "emerging" start-up once you're counting seven fingers deep in the capital raising rounds, let's take a closer look at the data darling of ETR's Emerging Technology Survey (ETS).
ETR tracks Snyk in two information security sub-sectors and leads its competitive peers in both. In fact, Snyk is the leading company in the entire ETS Information Security sector, holding the first and second position among 90+ other security vendors in our survey universe. The company also holds a top 5 Net Sentiment position across all sectors in the entire ETS survey, which comprises a massive pool of over 440 private enterprise technology vendors. When more than 1,300 qualified IT practitioners and purchasers state that Snyk is the leading security provider in both Application and Container Security, the real question is, why did it take until Round G for a public Goliath like ServiceNow to take notice? Maybe it's because they didn't have ETR's data? For those that do, they know that we have been tracking the company since November of 2019, back when Elmo could still sing their capital-raising alphabet. The February 2023 ETS survey closed today, and the complete data set for Snyk and 440+ other companies, along with proprietary analysis and visualizations, are available now on the ETR Platform. If you're not a subscriber, start your free trial to check it out.
Saviynt. Now we switch from a late-stage security star tacking on an equity raise to another veteran security company that opted for a credit deal to attain their needed capital. In what has become part of the new norm amidst a more realistic venture funding environment, CRN reports that Saviynt recently sold $205M of debt while simultaneously announcing the return of the company's previous CEO. As many readers know, Saviynt is a cloud-born identity security player that has been around long enough for me to call it a mature option in the marketplace without ruffling feathers.
Pivoting to the ETR data, we see that Saviynt sits in a mediocre position among all private information security vendors we track, with a Net Sentiment score that ranks 39th out of 92 vendors. When we focus on the company's more direct peers, specifically within the Identity and Access Management subsector, Saviynt ranks fifth in overall Net Sentiment, tied with JumpCloud and well behind leaders BeyondTrust and 1Password.
ArcticWolf. Regarding the Intrusion and Detection Prevention Platform (IDPP) provider, ArcticWolf, CRN reports that the company has expanded its managed security services offerings, particularly enabling its channel partners to sell its services with an enhanced SLA and one-hour reaction window. From a data perspective, I can't correlate that business decision to our findings, but what I do know is that the ArcticWolf is seeing ample growth in our data set, with overall survey citations growing from 280 ITDMs to 499 year-over-year, with a boost in Net Sentiment from 11% to 18%. Furthermore, that y/y growth has propelled ArcticWolf to the leading position among its closest IDPP sector peers.
Check out the full data set for these companies on the comprehensive ETR platform, a proprietary research tool that tracks 700+ enterprise technology companies with a decade-plus of historical data, ITDM vendor evaluation, custom survey capabilities, an expert network, and leading industry analysts. Yeah, we're your one-stop-shop for all enterprise technology research. Check us out.
Enterprise Technology Research (ETR) is a technology market research firm that leverages proprietary data from our targeted IT decision maker (ITDM) community to provide actionable insights about spending intentions and industry trends. Since 2010, we have worked diligently at achieving one goal: eliminating the need for opinions in enterprise research, which are often formed from incomplete, biased, and statistically insignificant data. Our community of ITDMs represents $1+ trillion in annual IT spend and is positioned to provide best-in-class customer/evaluator perspectives. ETR’s proprietary data and insights from this community empower institutional investors, technology companies, and ITDMs to navigate the complex enterprise technology landscape amid an expanding marketplace. Discover what ETR can do for you at www.etr.ai