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Rapid7 Reports Phenomenal Third Quarter with Growth in Sales, Employees and OEM Partnership
Nov 07, 2007 (10:11 AM EST)


BOSTON, Nov. 7 /PRNewswire/ -- Rapid7, the leading provider of Unified Vulnerability Management (UVM) solutions for large enterprise deployments and small to medium businesses, today announced a 100% revenue increase over last quarter; a result of signing new big name customers and an OEM agreement with a major security provider. In addition to the phenomenal growth, Rapid7 formed new partnerships and strengthened several departments with new employees and seasoned executives.

A leading network antivirus and Internet content security software and services provider has signed an OEM partner agreement with Rapid7. NeXpose will be used for internal network security assessment. In addition to enterprise wide internal use, NeXpose will be an integral part of their Vulnerability Management offering. This $600 million security company plans to market and sell this service to their large customer base in the fields of education, finance, government, healthcare, technology and telecommunications.

With the addition of new customers New York Cyber Security, and Carnegie Mellon the home of CERT and the OEM partnership with a large security vendor, Rapid7's NeXpose is the number one choice of security experts. In addition to adding top security experts, Rapid7 signed multibillion dollar companies including the largest energy provider on the west coast and Jefferies & Company Inc, a global investment banking and brokerage firm. Also in Q3, Rapid7 welcomed retail giants Liz Claiborne, Black & Decker, and Life Is Good to their list of new clients.

Along with the increase in licensing, Rapid7's Professional Services Department experienced phenomenal growth. Rapid7's Professional Services team offers a multitude of security services, most notably PCI Compliance testing. Consumer credit card data protection and privacy is an issue of increasing importance and concern; exhibited in the month of August, when service sales doubled those in the previous month. "We sought out Rapid7 because we take PCI Compliance very seriously," says Dean Ross, Vice President of Information Technology at new customer Hair Club for Men. "Protecting customers' information is part of giving the best service possible." In response to the increase in activity, professional services has expanded the team by bringing in new security consultants and increasing the number of CISSPs.

During Q3, Rapid7 expanded and improved its development team by appointing Chris Moore as the new Vice President of Engineering. The former Head of Risk Management Development for Foundstone and McAfee brings with him 22 years of product development and management skills. Under his leadership, Rapid7's development team is working towards product enhancements that will add to Rapid7's network security leadership.

"This has been an outstanding quarter; and I believe it is a testament to both to the quality of our product and Rapid7's substantial position in the market space" Says Rapid7 CEO Alan Matthews. "We are excited about our growth and expect it to be followed with even more impressive sales next quarter."

ABOUT RAPID7

Rapid7 is the leading provider of Unified Vulnerability Management (UVM) Solutions. Rapid7 NeXpose UVM provides network, database and web application vulnerability management for enterprises deployments and small to medium businesses. Rapid7 was founded in 2000 by a team of software industry veterans who were major contributors to product development and subsequent growth and success at Percussion Software, Bond Technologies and Stride & Associates. Since introduced, NeXpose has been sold to corporate enterprises, Global 2000 companies, and government entities, and serves the full range of vertical markets across the U.S. and abroad. In addition, Rapid7 provides compliance products and services for PCI, HIPAA and Sarbanes Oxley. Rapid7 is headquartered in Boston, MA, with offices in California and the United Kingdom. For more information on the company and its product, NeXpose, visit http://www.rapid7.com .

CONTACT: David Precopio Vice President of Marketing and Business Development of RAPID7 +1-857-288-7354 david_precopio@rapid7.com

CONTACT: David Precopio, Vice President of Marketing and Business david_precopio@rapid7.comDevelopment of RAPID7, +1-857-288-7354,

Web site: http://www.rapid7.com//