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Yubico Sees 90 Percent Customer Growth and Geographically Expanded Adoption of Two-Factor Authentication Technology in 2011(January 23, 2012)
PALO ALTO, CA and STOCKHOLM, SWEDEN -- (Marketwire) -- 01/23/12 -- Yubico, the leading provider of simple, open online identity protection, reported monumental customer growth in 2011 and is entering 2012 with great optimism of upcoming innovations to its YubiKey authentication technology that will expand its reach to all platforms and mobile devices.
With multiple high profile security breaches in 2011, both enterprises and consumers needed to rethink their online identity protection defenses. As a reaction to these data breaches and associated compliance regulations, enterprises actively began to replace their legacy two-factor authentication tokens with Yubico's easy, secure and cost efficient technology.
Yubico achieved impressive customer growth of 90 percent in 2011, including new customers such as leading U.S. Department of Defense contractors, e-governments and world leading cloud companies that all successfully deployed Yubico's technology during the year.
Yubico ended 2011 with more than a million users and 18,000 customers in 100 countries. The company also saw a major geographical increase of customer and revenue, with 50 percent now being generated in the U.S.
The YubiKey is a hardware authentication token that looks like a small USB memory stick and can be used by organizations and consumers for secure access in the range of IT applications, including email, VPN, Windows login, disc encryption and web single sign-on. By also providing a hosted validation service and supporting open identity standards, a single YubiKey can be used for any number of applications.
Beyond customer and revenue growth, Yubico also introduced several new security solutions in 2011 to meet the ever-growing demands of the company's customer base. Yubico invented and launched the YubiHSM Hardware Security Module, a small USB device that easily secures encryption secrets on servers with unmatched simplicity and the lowest cost in the market. Additionally, the company saw high deployments of YubiRADIUS, free, virtual appliance server that was launched to deliver secure remote access and VPN connectivity for Yubico customers.
"Our product development during 2011 was a great success and much appreciated by our customers and security professionals," said Stina Ehrensvard, CEO and founder, Yubico. "This year we all can expect to see continuous reports of security breaches, as we have just seen the recent breach at Zappos.com, for companies who are not evaluating threats with all necessary resources. In 2012 Yubico will further enhance our security technology with new inventions to meet the growing need for strong authentication on mobile devices."
Yubico will demonstrate its new mobile authentication solutions at the RSA Conference 2012 in San Francisco in late February, together with key software partners supporting YubiKey technology.
For more information, please visit yubico.com.
Yubico is the leading provider of simple, open online identity protection. The company's flagship product, the YubiKey, uniquely combines driverless USB hardware with open source software. More than a million users in 95 countries rely on the YubiKey for online identity protection with simple and secure access to computers, networks and online services. Customers range from individual Internet users to e-governments and Fortune 500 companies. Founded in 2007, Yubico is privately held with offices in California, Sweden and UK. For more information, please visit yubico.com.
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