Minerva Labs Posts Positive Results for Cybersecurity Business Despite COVID-19 Restrictions

PETAH TIKVA, Israel--(BUSINESS WIRE)--Minerva Labs, a leading provider of anti-malware endpoint platform, today announced that the company has achieved positive business results and company growth in spite of challenging global economic conditions derived from the COVID-19 pandemic.

Minerva Labs CEO Eddy Bobritsky announced that for 2020, the company posted profits for the fourth straight year and achieved 100 percent year over year growth from 2019 with a 97 percent customer renewal rate. In addition, the company doubled the number of employees in the last year primarily in research and development and customer support. Business demand for the first three months of 2021 remains strong and the company is optimistic it will continue to expand.

“When it comes to value, and return on security investment, our product proves to be of great value to our customers that makes the renewal easy,” said Bobritsky. “The two main growth engines for the company were the Anti-Ransomware Solution that prevented all major ransomware attacks during 2020 and the award winning ‘Just-In-Time’ Endpoint Protection for unmanaged devices (BOYD/BYOPC) that employees use for their remote work from home (WFH) efforts.”

Minerva Labs enterprise grade solution protects unmanaged devices throughout the working session without compromising a user’s privacy. The just-in-time protection is automatic once the remote connection established. It deactivates once the connection is terminated, ensuring a user’s privacy while protecting the organization from unmanaged/unsecured devices in today’s zero-trust environments without additional operational overhead.

Another security incident that positively impacted Minerva Labs’ results was the SolarWinds incident unveiled by FireEye in December 2020. Minerva Labs technology protected customers against SolarWinds-related events back in August 2020, and Minerva’s customers were not negatively affected. FireEye’s report (which can be found here) explains how the malicious backdoor refused to work when certain blacklisted processes are present in the operating system, proving once again the effectiveness of the Minerva approach and the Hostile Environment Simulation module which is one of the main parts of Minerva’s pre-execution threat prevention platform.

“Minerva Labs prevents threats at pre-execution phase, much like preventing a murder,” said Bobritsky. “Once murder is prevented, now you’re making sure the potential victim is safe and secure instead of post-mortem analysis on the body of a murder victim. When we were approached by some of our customers asking about this event, we instructed them to contact SolarWinds and to get explanations why the SolarWinds software was trying to use evasion techniques as part of its regular operational process. A few months later, FireEye released the report, so it was only then that we realized that our solution protected our customers against this specific attack.”

For more information on how Minerva Labs protects against the SolarWinds breach, go to www.minerva-labs.com

About Minerva Labs

Throughout history, people have utilized technology to improve lives. The digital age has presented the world with the ultimate tool for human advancement. Unfortunately, we have seen a sharp rise in attacks that threaten to undo progress by exploiting the vulnerabilities created by the digital revolution and its ever-growing attack surface.

A 2020 Gartner Cool Vendor, Minerva was founded in 2014 with the mission of overturning the ever growing hacking tide that is still engulfing the cyberworld. The challenge was not just to create a platform that utterly defeats cyberattacks but also one that does so regardless of an organization’s time, team size, skills, and toolset.

Through years of innovation and dedication, Minerva was successful in developing an endpoint security solution that is not just the most effective, but also the most resourceful and cost-effective both for managed and unmanaged devices.

Since 2014, Minerva technologies have successfully protected hundreds of organizations and millions of endpoints. By utterly eliminating cyber threats, Minerva’s platform is successfully turning the hacking tide and allowing organizations to flourish without the fear of attack.

For more information, go to https://www.minerva-labs.com.

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