In the six plus years since Own was founded, Software-as-a-Service (SaaS) has grown exponentially. The reasons are well proven: SaaS applications are easy to use and infinitely scalable. Moreover, they deliver cost and time-saving benefits, allowing organizations to pay as they grow without excessive IT overhead. As a result, from 2018 to 2020, company spending on SaaS increased by 50%, and 86% of organizations expect the majority of their software to be delivered via the cloud by 2022.
Yet despite all of these advantages, the growth of SaaS has presented a new challenge. As SaaS data increases in volume, variety and velocity, it’s become increasingly difficult for organizations to manage, secure and protect their data while simultaneously driving digital transformation projects.
Organizations today require a holistic approach to SaaS data security and protection. And that’s exactly what the combined solution of Own and RevCult will provide.
Today we announced an agreement to acquire RevCult, a California-based software company that provides Salesforce security and governance solutions, often known as SaaS Security Posture Management (SSPM).
We believe that this acquisition will help enhance Own’s market-leading position and allow us to accelerate our long-term growth opportunity. We’ve always taken pride in helping customers protect their data from loss and corruption so they can recover quickly when incidents occur. And although we’ve equipped customers to be more resilient with proactive data protection, many of the problems that we help them recover from are preventable through the addition of proactive SSPM. The addition of RevCult will enable us to help customers limit the primary security issues that lead to loss and corruption such as lax permissioning, social hacking, insider threats, poor physical security controls and other vulnerabilities.
While SaaS providers have invested heavily in solidifying their own security posture, data resiliency and security remain real and present concerns for all companies leveraging cloud services. In addition to external security breaches, the overwhelming majority of cloud security failures and resulting data loss are actually the customer’s responsibility, according to Gartner. What makes this threat even more acute is that, just as customers are responsible for recovering their own data should it become lost or corrupted, they are also responsible for securing the data with controls like password policies, IP restrictions, SSO, encryption and more.
RevCult understands that protecting and governing the data inside Salesforce is a massive undertaking — one that a majority of organizations cannot totally grasp without the right tech, insights, and tools. RevCult’s solutions help organizations understand the business context, critical functions, and the related cybersecurity risks of their Salesforce environments. From there, they help customers ensure the appropriate proactive protective measures are applied to their assets based on their sensitivity and risk profile.
As long-standing partners with RevCult, we know first-hand how valuable their solutions are to customers. We also know that our organizations share a common culture, and our collective focus will be instrumental as we build a strong future together.
Please join me in welcoming RevCult to the Own team!