News
SonicWall Completes Successful Recap with Oversubscribed Interest
June 2018 by Marc Jacob
SonicWall announces that it has recapped the company, marking its separation from Quest. The strong interest from potential investors is underpinned by SonicWall’s solid financial performance, exceeding its financial objectives for six straight quarters, while also posting a world-class 90-plus percent customer renewal rate for Q1, a 14 percent year-over-year increase.
SonicWall, which was oversubscribed in investment interest, continues to surpass the expectations set upon them by private equity owner Francisco Partners, which purchased the company in 2016. The recap was accelerated by aggressive growth of the SonicWall Capture Advanced Threat Protection (ATP) service. Year-over-year, the multi-engine cloud sandbox saw 188 percent revenue growth and a 150 percent increase in attachment rates.
Capture Cloud Platform Spearheading Product Innovation, Momentum
In April 2018, SonicWall announced the Capture Cloud Platform, which tightly integrates security, management, analytics and real-time threat intelligence across the company’s full portfolio of network, email, mobile and cloud security products. To support this product initiative, SonicWall engineers added a record 125 million lines of code in just an eight-month span.
During the April launch, SonicWall also introduced new and enhanced hardware and virtual products, as well as the new SonicWall Capture Client endpoint protection solution with automated rollback capabilities. The portfolio expansion provides partners and customers the versatile solutions to deploy automated real-time security and breach prevention across any environment type.
Ongoing Enhancements Improving Customer Support, Service
SonicWall’s agile product development was complemented by the company’s persistent focus on enhancing customer service and technical support. Key improvements include:
89 percent year-over-year decrease in case backlogs
84 percent year-over-year decrease in average case age
74 percent year-over-year decrease in call abandonment
95 percent positive knowledgebase (KB) article rating
13:1 average self-service score in fiscal year 2019; record 15:1 score in April 2018
Channel Development, Partner Enablement Programs Continue Record Growth
The SonicWall SecureFirst partner program added more than 9,800 new registrants in 2018, a 145 percent increase from 2017. New and existing SonicWall SecureFirst partners also continue to engage with SonicWall University, the company’s modern online training platform. The integrated programs are delivering strategic partner enablement:
24,725 SecureFirst partner registrations (60 percent year-over-year increase)
155,232 completed SonicWall University exams (715 percent year-over-year increase)
77,616 total SonicWall University training hours (304 percent year-over-year increase)
$530 million in partner deal registration (112 percent year-over-year increase)
Third-Party Accolades Validating SonicWall Mission
Since the start of 2018, SonicWall has collected 27 cybersecurity industry accolades. Most recently, SonicWall was named the Cyber Defense Magazine InfoSec Cybersecurity Company of the Year, and SonicWall Capture ATP with Real-time Deep Memory InspectionTM won the 2018 Silver Stevie Award in the New Product or Service of the Year, Software, Network Security Solution category.
