The areas of operation of the Proofpoint system are: In addition, the company has expanded out from that base to add data protection services on networks and Cloud servers. The company has expanded its email protection services to a complete security system covering all aspects of both incoming and outgoing email threats. The first product of Proofpoint was a spam filter. In addition, the company’s use of cutting-edge technology from its inception means that Proofpoint has the right corporate mindset to continue innovative development and keep ahead of the competition. However, the business has the resources to outgun smaller, newer technology-driven companies in terms of research. While data protection is a growing market, Proofpoint will always face new competitors. Today the company, based in Sunnyvale, California, has offices worldwide and more than 3,600 employees.īy focusing on the data security needs of businesses as the legal requirements over PII evolved, Proofpoint has established a very successful lead in its chosen market. As a result, IT equity firm Thoma Bravo bought the business in April 2021 for a cash offer of $12.3 billion. The company’s success attracted a lot of attention in the corporate world. Proofpoint went public in 2012 and achieved an annual turnover of over $1 billion in 2020. The company was venture-funded and expanded rapidly. From the very beginning, Proofpoint has developed cyber security systems with integrated AI processes. The company’s founder, Eric Hahn, had previously been the CTO of Netscape Communications. The definition of what is regarded as sensitive data depends on the location and sector of your business because you need to coordinate your data protection systems with legal and standards requirements. The service can identify your stores of sensitive data and protect them. Proofpoint also includes risk management and compliance assessment systems. An email scanning system removes phishing attempts and malware, a data loss prevention service blocks outgoing data movements, and a threat detection system spots hackers and insider threats. The Proofpoint package provides all of the tools that a business that holds PII needs to prevent data theft. Now, the fines and legal action triggered by a data loss event can ruin a business. This change in the legal landscape has altered the calculations over whether data loss prevention is worth the cost. The casual attitude of many businesses towards data theft has been drastically corrected by legislation that makes companies financially responsible for the damage that identity theft causes to the individuals whose PII gets stolen. So preventing data loss was an activity that created a lot of expense without any reward of profit. Full data security systems are expensive to run, and security checks can discourage customers. To the thief, the victims are not people, just names and account numbers.īusinesses that hold PII weren’t all that interested in going to any expense to protect it. A cybercrime operation has minimal setup costs and, being a crime committed from a distance, seems almost victimless. Without the risk of being caught and sent to jail, there is no disincentive to practicing email scams and identity theft. But, in reality, there is very little that law enforcement can do to catch these criminals who operate internationally. In recent years, governments have started to crack down on identity theft. The only solution to this category of crime is to prevent it from happening. All too often, the scammers are untraceable or untouchable in a faraway country. Identity theft can be devastating and can take years to recover from. Victims can have all their money stolen and even end up heavily in debt for loans taken out by tricksters using their identity. The value of PII is that it facilitates identity theft. They are particularly interested in the personally identifiable information (PII) that companies hold on private individuals. One of the most common assets that hackers aim for is the data held on the system. The service can scan social media platforms for potential hazards as well.īusinesses are targets for con artists who want to trick employees into giving them away so they can steal money and valuable assets. As many attacks get into target systems through emails, Proofpoint has put a lot of work into creating a comprehensive email monitoring system. Proofpoint market pricing can be found in the chart below.Proofpoint is a Software-as-a-Service platform that offers a range of systems to prevent stolen or tampered with data. Built on the cloud and the world’s most advanced intelligence platform, our solutions help you effectively detect and block targeted attacks and respond quickly to suspected compromises. Proofpoint protects your people, data and brand against advanced threats and compliance risks.
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