In an exclusive interview conducted by CRN India, Scott Sampson, Chief Revenue Officer, Biju Muduli, Chief Marketing Officer, and Haggai Polak, Chief Product Officer of Securonix, delve into the company’s pioneering strategies and market dynamics. Providing valuable insights into Securonix’s innovative approach to cybersecurity solutions, the executives shed light on the company’s vision for addressing evolving threats and meeting the complex needs of modern organisations. This discussion offers a glimpse into Securonix’s leadership in the cybersecurity landscape and its commitment to driving impactful advancements in the industry.
What are your observations regarding the market, particularly amidst the unprecedented times we’ve experienced, and the resulting increased demand for cybersecurity solutions, considering your role in overseeing the organisation’s overall revenue?
Scott Sampson: The attractiveness of our product lies in several key factors. Firstly, the sheer size of the total addressable market is compelling, particularly for enterprises with over 1,000 employees where having a Security Information and Event Management (SIEM) solution is imperative. This vast market includes highly specialised technologies such as User and Entity Behavioural Analytics (UEBA), an area in which we are pioneers.
Secondly, we have a deep understanding of our customer base, allowing us to precisely define our ideal customer profile and ensure a strong product-market fit. This clarity gives us confidence in the future success of our offerings.
Securonix has always been at the forefront of innovation in this space, and we are committed to maintaining that position. Recent discussions have centred around the integration of artificial intelligence (AI) into our platform, a strategic move that will enhance our capabilities significantly. Unlike some competitors, we are transparent about our roadmap, and we’re proud to announce that several new products will be launched within the next six months, with some already in limited release.
These products are not merely conceptual; they are already being utilised by global enterprises, demonstrating their real-world effectiveness. We look forward to officially unveiling and branding this suite of secure cyber ops technologies at the RSA conference in San Francisco in early May.
Biju Muduli: If you examine the market landscape, the SIEM sector alone represents a $5 billion market today, with a projected 10% CAGR leading to $10 billion by 2030. This presents a significant opportunity for us to capture our rightful portion of the market.
Our target extends beyond mere financial milestones; we aim to surpass the $5 billion mark in valuation within the coming years. The foundation of our confidence lies in the alignment of our offerings with market needs. Securonix boasts a legacy of pioneering innovation, having introduced UEBA to the market when it was a novel concept. Now, UEBA is commonplace among vendors, a testament to our market influence.
We’ve continued to lead with innovation, such as our cloud-native SIEM solution and the integration of UEBA and SOAR into a unified defence platform, all built from the ground up. Looking ahead to 2024, we’re poised to introduce our AI Reinforced Cyber Ops product at RSA, marking a significant leap forward in our technological capabilities.
What sets us apart in the AI arena is our genuine integration of AI throughout every layer of our platform. While many vendors tout AI capabilities, our product management and engineering teams have diligently integrated AI into every facet of our platform. This holistic approach distinguishes us from competitors who merely scratch the surface with AI integration.
As the cybersecurity landscape evolves, we recognize the inevitability of AI-driven attacks. However, we are committed to empowering enterprises, ensuring they stay ahead of emerging threats. This presents not just challenges but immense opportunities. By equipping our customers and partners with cutting-edge solutions, we are poised to seize our rightful share of the market and fortify our position as industry leaders.
How challenging is it for you as a global leader to drive conversations with customers about cybersecurity, considering it has become a board-level discussion and customers now expect business outcomes from solutions deployed?
Haggai Polak: Certainly, as the Chief Product Officer, I can shed light on this crucial aspect, not only for our product but for any security solution. Cybersecurity has undeniably risen to the board level as a critical topic, and for valid reasons. Firstly, there’s the potential enterprise loss in the event of a successful cyberattack, which can be substantial. Additionally, leaders within organisations now face personal liability in the wake of severe incidents, especially if they fail to report such breaches in accordance with regulations. The evolving regulatory landscape emphasises the need for reporting, implementing specific tools, and taking necessary precautions. Failure to adhere to these standards can render executive teams personally accountable under local laws, including the threat of legal repercussions.
The prospect of legal consequences, such as jail time for CEOs, CFOs, or CIOs, understandably grabs their attention and prompts them to take cybersecurity seriously. To broaden the conversation beyond IT and security professionals, there’s a growing trend in the industry towards cyber risk quantification. This involves employing frameworks that enable security and IT professionals to quantify cybersecurity risks in terms that resonate with the broader business audience. For instance, by outlining the financial impact of downtime for different business units or calculating the potential compensation required for leaked customer records, we can communicate in a language that business stakeholders understand: dollars, rupees, and risk. This shift transforms the dialogue from technical jargon to discussions about business continuity, financial implications, and legal liabilities.
Has the overall market dynamics made your job easier?
Haggai Polak: Our journey is never a smooth sail. With each problem solved, two more seem to emerge. This holds true not just for us as vendors, but even more so for our customers. Every year brings new challenges, making life progressively tougher. The threat landscape is in constant flux, with attackers growing increasingly sophisticated. Meanwhile, navigating the regulatory environment becomes trickier, compounded by a shortage of skilled personnel. Factors like quantum computing pose threats to encryption and privacy, further complicating matters. Moreover, the proliferation of IoT devices expands the attack surface, leaving virtually every device vulnerable to breaches. In today’s world, even something as commonplace as a phone or a camera can be compromised, emphasising the growing complexity of our digital existence.
Thus, both vendors like us and our customers find themselves locked in a perpetual cat-and-mouse game, constantly adapting to stay ahead in an ever-evolving landscape of threats and challenges.
How do you ensure that your tools consistently keep up with current trends?
Scott Sampson: Yeah, the reality is, there’s a significant skills shortage, particularly in the realm of cybersecurity. The attackers operate with a high level of sophistication, posing a formidable challenge to defence mechanisms. Even in India, where the tech industry boasts 60% of the global technical workforce, there’s still a notable skills gap when it comes to combating these advanced threats and understanding the intricacies of evolving technologies, whether developed by us or others.
Therefore, a key aspect of our responsibility, and particularly for Haggai as the Chief Product Officer (CPO), is to bridge this gap by making these sophisticated capabilities more accessible and user-friendly. The goal is to empower SOC analysts and others in the cybersecurity domain without requiring them to hold a PhD in computer science. It’s about delivering powerful solutions in a manner that is either automated or easily understandable, thereby enhancing the efficacy of our defences.
Indeed, it’s a challenging task, but one that we are committed to addressing head-on.
What specific efforts are being made from your side to upskill and reskill your partners in response to skills shortages?
Scott Sampson: Absolutely, that’s a great question. We’re currently in the midst of revamping our global channel program, and a key component of this initiative is to introduce certification and training programs for our channel partners, including value-added resellers, MSSPs, distributors, and others.
We firmly believe that this step is crucial in expanding our extended enterprise network and enhancing proficiency in utilising our technology. As our customer base expands, it’s imperative that we scale up the skill set available in the market to effectively implement and leverage our technology solutions. This ensures that our partners are well-equipped to meet the evolving needs of our customers and deliver optimal outcomes.
How frequently is this type of activity conducted?
Scott Sampson: Well, the program we’ve introduced marks a significant departure from our previous approach, which I’d describe as highly customised and unique to each situation. It’s akin to running a snowflake factory, where every output is distinct and tailored.
Now, we’re transitioning towards a more standardised and scalable model. Think of it as operating a cookie factory, where output is consistent, predictable, and follows established protocols. This shift allows for greater efficiency, reliability, and clarity in terms of certifications, curriculum, and assessment criteria, ensuring that participants are adequately equipped for their roles.
While this transition is still in its early stages, we’re committed to streamlining our processes and enhancing the overall effectiveness of our programs by moving away from ad-hoc approaches towards more structured and reproducible methodologies.
What is your current position in the global SIEM market, and what initiatives are being implemented to achieve exponential growth in this domain?
Scott Sampson: Well, to begin with, this program marks a new direction for us. In the past, our approach was rather bespoke, akin to a snowflake factory where each snowflake is unique.
Looking at the IDC sizing of the India market, we currently hold about 12% market share, I attribute this partially to our substantial investments in the territory, particularly in our workforce and the extensive efforts we’ve dedicated to nurturing relationships with channel partners to bolster our presence in the region.
This, I believe, is a significant contributing factor.
Biju Muduli: Our growth objectives are indeed ambitious, and we have full confidence in our ability to achieve them, aiming to elevate from 12% to possibly 20%. As Scott highlighted, this isn’t just a focus in India but extends globally, with a particular emphasis on expanding our reach through channel partners. Scott’s mention of establishing a comprehensive channel program encompasses various partner types, including MSSPs, SIs, distributors, and strategic VARs.
Being a channel-first company, our approach to growth hinges on collaborating closely with our channel partners. From a marketing perspective, this involves not only marketing to potential partners to recruit them but also marketing with them to enhance our collective reach. This collaborative approach is pivotal for realising the level of growth we aspire to achieve in the coming years.
On the corporate front, we’re intensifying our efforts to penetrate this market by prioritising customer-centric strategies. Recognizing the diverse range of use cases, including external and insider threats prevalent in large conglomerates, we’re aligning our go-to-market strategy to address these specific challenges. By adopting a lens focused on the customer’s business needs and challenges, we aim to tailor our solutions to effectively address their requirements, ultimately driving our penetration and success in this market segment.
So, do you have a fairly good presence from the channel perspective in India?
Scott Sampson: I’d say yes. Currently, about 64% of our global revenue stems from channel partnerships, including MSSPs, VARs, and OEMs. My aim is to further expand this figure, potentially up to 80% within the next couple of years.
While we’ve made significant strides with MSSPs and mid-market value-added resellers, there are other channels we’ve yet to fully leverage. Two-tier distributors like TD Synnex present untapped potential that we’re keen to explore.
Moreover, in markets such as North America and Western Europe, there are additional channel opportunities we’re eyeing. Since joining the company, I’ve emphasised our commitment to becoming a channel-centric and channel-led business. Our strategy involves harnessing the expertise and resources of our channel partners to educate the market, identify opportunities, and facilitate deal closures, ultimately ensuring successful customer implementations.
Biju Muduli: This approach represents a substantial growth opportunity for us, and we’re dedicated to maximising its potential.
This Securonix Spark 24 event series marks a significant milestone for us, not only in India but also globally. It’s our first major event series of the year, with more to follow.
We’ve already held events in Delhi, and now we’re in Mumbai, with Bangalore scheduled for tomorrow. These events are conducted in collaboration with our esteemed channel partners.
I’m pleased to mention that Tech Defense Labs, ValuePoint, and iValue are among the sponsors for these events. Our objective is clear: to raise awareness and engage with potential customers effectively.
Looking ahead, we have another event planned in Dubai, where we’ll again be partnering with a channel associate. This strategic approach underscores our commitment to leveraging our channel partnerships for impactful initiatives.
Can we expect more partnerships with other solution providers in the future, following the recent one with Snowflake? What’s the rationale behind this move?
Haggai Polak: Certainly, strategic partnerships come in various forms, but for us, the most impactful ones are those that blend technology with go-to-market strategies.
Take Snowflake, for example. They serve as the data lake within our product, offering remarkable scalability and performance. Given the vast volumes of data we handle—imagine a single large customer sending one million events per second, each event being 1,000 bytes and stored for at least a year—Snowflake empowers us to conduct investigations and forensics effectively. It’s been a journey to forge this technological alignment, culminating in a partnership launched a year ago that now forms the bedrock of our product’s data infrastructure.
Moreover, AWS stands out as another crucial partner. We leverage AWS to host our services, with Mumbai serving as a significant data centre where our Indian customers run their tenants. AWS also boasts an evolving security offering for their data lake, presenting intriguing opportunities for collaboration in enhancing security measures.
While Snowflake and AWS are prominent examples, we have several other partnerships in various stages of development, each contributing to our overarching goals through unique collaborations.
Scott Sampson: I’d just like to reiterate the significance of our partnership with AWS, echoing Haggai’s points. Also, we’re proud to be designated as an SRRP partner with AWS, placing us in the top tier of partnership. Through this partnership, our customers can seamlessly transact on Securonix, purchasing our products via the AWS marketplace.
What’s particularly advantageous is that customers can utilise their financial commitments with AWS when procuring Securonix software. This mechanism, known as EDP, allows them to offset their AWS commitments by investing in our solutions. For instance, if a customer has a $1 million annual commitment with AWS and they spend $300,000 on our software, they can apply this expenditure to reduce their AWS commitment. This presents a significant opportunity for us, especially considering that many of our competitors offer similar arrangements, catering to the diverse needs of global organisations.
Just like how organisations leverage their commitments with providers like Microsoft for various products, our partnership with AWS empowers us to offer similar benefits to our customers. This strategic alliance not only enhances our market position but also provides us with the scale and leverage enjoyed by larger competitors. We see immense value in this partnership and the opportunities it brings to our customers and our business alike.
Do you anticipate a significant increase in market share, particularly in the Indian market, due to these innovations and partnerships, considering the demographic trends, the growth in the MSME sector, and the digital initiatives by the Indian government? What are the key factors that you believe will strengthen your position in the market?
Scott Sampson: The strategy remains unchanged—it’s channel-led. Our channel business witnessed a remarkable 40% year-on-year growth in the past year alone. We’re consistently onboarding more MSSPs (Managed Security Service Providers), who, in turn, are expanding their customer base.
The key focus continues to be on engaging and empowering our channel partners. While we do have a dedicated direct sales force, they work hand in hand with our channel partners, ensuring there’s no conflict. Importantly, our sellers are compensated regardless of whether a deal is facilitated through the channel or directly.
This approach is integral to our ongoing growth strategy. Also, echoing Biju’s sentiments about the palpable energy surrounding our Spark 24 events in India, there’s a real buzz in the air. The turnout, the expertise, and the business insights shared are truly remarkable. We’re committed to further investment in this region, and the enthusiasm is palpable.
It’s worth highlighting that for a company headquartered in the U.S., the level of bookings and revenue generated from India at this early stage in our company’s journey is exceptional. Needless to say, we’re incredibly thrilled about it.
Which vertical industries have been early or fast adopters of your solutions?
Scott Sampson: Well, when you look globally, our key verticals are financial services, healthcare, and IT services. That’s where the majority of our businesses come from, but certainly not limited to that. But those are the verticals that drive the most.
Biju Muduli: Manufacturing as well as financial services, healthcare, and IT services have all been areas of focus.
Are you considering collaborating with the government sector in India, given the significant digital push from the government?
Scott Sampson: Yeah, over the past couple of days, I’ve had conversations with five partners who have expertise in government relations. To be frank, breaking into the Indian government sector has been a challenge for us thus far. However, we’re strategizing to navigate this through our partners, leveraging their existing relationships within the government.
While our direct engagement with the Indian government is still in progress, it’s worth noting that we have successfully provided our technology solutions to governments worldwide, including the US, UK, Bahrain, Singapore, and others. Our approach to entering the Indian government market will heavily rely on fostering relationships and collaborating with value-added resellers who can serve as conduits for our solutions.
So, that’s the plan.
How well-equipped are you to safeguard your customer premises and environment amidst the complexities brought by advancements like AI? Also, where do you perceive the industry lacking in terms of adopting technologies like AI, particularly in terms of practical use cases and implementations such as generative AI?
Haggai Polak: Indeed, there’s widespread recognition that AI and generative AI (gen AI) are already being utilized by threat actors to develop increasingly sophisticated, stealthy, targeted, and destructive attacks at scale.
This phenomenon is extensively documented, and our own researchers have firsthand access to these tools, often providing demonstrations to illustrate their capabilities.
For instance, gen AI can generate malware and facilitate various forms of deepfakes and social engineering tactics. One notable example is a company from Hong Kong that fell victim to deep fake Zoom videos depicting its executives and board members, leading to the fraudulent transfer of $25 million by deceiving an employee in the finance department.
Contrary to the notion that there haven’t been clear use cases in cybersecurity, the reality is that there are numerous instances. At a Black Hat event in August last year, we introduced our AI Assistant product, which incorporates AI, machine learning, and data science to enhance the efficiency of researchers and analysts in responding to the evolving threat landscape.
During today’s presentation, I showcased about six additional tools leveraging these technologies. These tools empower analysts to ramp up quickly without the need for complex policy or query language. Instead, they can simply interact with a chatbot, which automates many of the mundane tasks.
Also, data science is employed to sift through the noise and identify the crucial signals indicative of attacks, while machine learning helps piece together a comprehensive view of attack kill chains. In essence, we equip analysts with advanced tools to effectively combat the evolving threat landscape.
What factors have contributed to the strong demand for your Unified Defense SIEM product in the market?
Haggai Polak: Yeah, this is where we can bring together all the points we’ve discussed. Unified Defense SIEM, our launch in 2023, marked a significant shift, particularly with the integration of Snowflake and leveraging it as our data lake to offer customers scalability and performance. The reception has been overwhelmingly positive. Currently, the majority of our install base relies on Unified Defense SIEM, giving us a competitive edge as we move into 2024 with Snowflake as our backend and embedded orchestration and automation features.
Looking forward, our focus is on the future. While Unified Defense SIEM represents our past and present achievements, today’s session centred on what lies ahead – the future of our company in India and the broader region, the evolving threat landscape, and the tools that defenders will have at their disposal.
What is your observation regarding the growth of the managed SIEM services market, and what is your company’s role in that domain?
Scott Sampson: As I mentioned earlier, currently, 60% of our business is channelled through our partners. Within this channel segment, 40% originates from Managed Security Service Providers (MSSPs), while 20% comes from Value-Added Resellers (VARs). This trend is expected to persist and even expand in the coming years. Looking ahead, we anticipate MSSPs to account for an even larger share, potentially reaching up to 60% of our business. This growth trajectory is particularly prominent in the mid-market and upper mid-market segments.
The reason behind this shift is clear: many companies lack the expertise and resources to effectively manage their security operations centres (SOCs) or conduct threat hunting activities internally. Consequently, they prefer to outsource these functions to specialised MSSPs. To support this trend, we are actively developing a structured and standardised program aimed at incentivizing MSSPs to align their business operations with Securonix.
In fact, a significant portion of my recent engagements in India has been with MSSPs, underscoring their strategic importance to our business. Partners like ValuePoint have expressed strong interest in leveraging our solutions to enhance their offerings, highlighting the critical role MSSPs play in our growth strategy.
How do you encourage partners, particularly MSSPs, to develop service capabilities, given that many are still focused on traditional solution selling? Do you anticipate MSSPs becoming the primary method through which vendors and partners serve customers in the coming years?
Scott Sampson: Certainly. The channel program we’re introducing is designed to incentivize our partners in several ways. Firstly, partners enrolled in our program are offered tiered pricing based on their tier level, ranging from innovator to diamond. The higher the tier, the better the pricing they receive. Additionally, partners are required to meet pre-sales and post-sales certification criteria to qualify for these pricing tiers. By completing these certifications and training, partners not only secure better pricing but also gain access to varying levels of technical account manager support. At the lower tiers, support is pooled, whereas at the upper tiers, partners benefit from dedicated technical account managers who work closely with them to ensure they derive maximum value from the Securonix platform.
Ultimately, the goal of this program is to foster mutual growth. By providing partners with the tools and support they need to succeed, we’re also investing in our own success. It’s a symbiotic relationship where both parties stand to benefit, aligning our interests and driving collective growth.
Are there any specific incentivization schemes in place to attract more attention to the services aspect?
Scott Sampson: The program is meticulously integrated, as I mentioned earlier. If you delve into the program guide, it distinctly outlines the benefits at each level: the degree of market development funds, the support provided for Total Addressable Market (TAM), and the applicable discounts, including those for premium support services. It’s a thoroughly documented and structured program.
From a marketing perspective, Biju and I are closely aligned in strategizing the global marketing approach for this MSSP program. This collaboration is pivotal. Additionally, our Chief Customer Officer, Al Arun, who oversees support, professional services, and technical account managers, plays a significant role in shaping this program’s success.
Our focus extends beyond just onboarding MSSPs; it’s about enabling their success. This involves comprehensive training, support, and certification initiatives—a holistic approach aimed at ensuring their proficiency and effectiveness within the program. It’s a multifaceted perspective that we’re committed to nurturing.
Biju Muduli: Yeah, so let’s delve into the numbers. Currently, the SIEM (Security Information and Event Management) market stands at around $5 billion, while the managed SIEM services market is a whopping $30 billion. Projections indicate that the SIEM market is set to double from $5 billion to $10 billion, while the managed SIEM services market is expected to grow from $30 billion to $60 billion in the same period. These figures underscore the immense potential and economic impact for service providers in this domain. It’s crucial to communicate these numbers effectively through education and marketing initiatives, highlighting the lucrative opportunities available.
Early signs are promising. For instance, during our recent event in Delhi, we saw a turnout of over 200 participants. Similarly, here, although we anticipated around 200 attendees, we were pleasantly surprised to host over 300 customers. The overwhelming response indicates a keen interest from customers and MSSP (Managed Security Service Provider) partners alike. In fact, some partners who couldn’t make it expressed a desire to attend future events, demonstrating the success of our efforts in educating and engaging partners. This positive feedback encourages us to continue our endeavours and inspires partners to further collaborate and invest in this growing market.
Scott Sampson: If you talk to ValuePoint, they’ll tell you that their market is ultra competitive because there’s so many entities out there trying to provide these services. And one other anecdote, tying it back to Unified Defense SIEM, a lot of the MSSPs that are out there dealt in traditional on-prem SIEMs, so they were managing servers and systems on behalf of clients. They want to get out of that game. And that’s why Unified Defense SIEM is so important, just 100% cloud, where they don’t have to think about running and tuning the database or running Hadoop clusters or things like that to have the thing function and operate. So Unified Defense SIEM takes all of that on-prem management off the table so that they can focus on, you know, other things.
So that’s, I think, that’s really attractive to MSSPs that are trying to evolve with the market. Yeah.
How are you assisting your partner ecosystem to engage in high-level discussions with CEOs, CFOs, and CXOs, ensuring they act as trusted advisors and drive conversations that create a win-win proposition for both your company and your partners?
Scott Sampson: What I would emphasise is the significance for MSSPs to consider the business implications surrounding cyber threats, such as the potential negative impact of a ransomware attack or data exfiltration of financial information, and even the repercussions on brand reputation. Categorising and assigning value to these threats can be approached through various lenses, particularly focusing on assets, brand, and image. This evaluation, as Haggai pointed out, isn’t overly complex.
One way we support our partners is by providing them with comprehensive reports and dashboards, enabling them to demonstrate to their clients the effectiveness of their services combined with our technology. These reports highlight metrics like the number of threats intercepted, attacks mitigated, and the efficiency in handling alerts. By equipping our partners with these tools, they can effectively communicate their contributions to their clients, fostering transparency and trust in the ongoing cybersecurity operations. So, it’s not just about making the initial business case; it’s about facilitating the continuous monitoring and management of cyber threats.
How important is it for MSSP partners in India to engage with top CXOs rather than lower-level IT personnel to drive discussions effectively?
Haggai Polak: Yeah, I think the good ones do. Yesterday around this time, we sat in a conference room with the CISO and the CIO of one of the largest financial organisations in India, who’s a customer of ours. And one of his requests was that we work with him to design, essentially, a dashboard that he can use because he needs to report about the efficacy of security programs to his board.
And he needs to create it from scratch manually. And he’s looking for help. (And we’re going to give him some help. In this case, it’s a direct customer because they’re very big. Now, giving the example that there are frameworks, as I said earlier, to show effectiveness and ROI of security programs in general, and some products specifically, customers are asking for those. They do need that.
So I think that an MSSP that can create an effective QBR mechanism for their customers and show the value of the products and the effort, the personnel, they can do really, really well. We see it in other markets as well.
Are there any specific geographies in India where you anticipate geographical expansion for channel expansion?
Scott Sampson: Absolutely. So, when it comes to our expansion strategy within India, it’s essential to recognize that our product is horizontal in nature. It’s not tailored specifically to any particular sector like government, transportation, or financial services. While our expansion is indeed geographic, there are certain key verticals where we’ve seen significant success and where the demand is particularly high. These verticals include public sector, healthcare, and the rapidly growing retail sector in India.
Our approach is to identify where we’ve had the most success and where the need is most pressing. Certain industries, especially those subject to regulatory requirements, present compelling opportunities as compliance becomes a significant driver for our clients. Therefore, we prioritise verticals based on factors like regulatory compliance needs.
However, from a geographic standpoint, our doors are open to all. Regardless of where our potential clients are located, we aim to provide our product and support to anyone in need. Our focus is on serving our clients’ needs effectively, irrespective of their geographical location.
Are there any specific efforts underway to onboard additional partners? Are there any planned go-to-market activities scheduled throughout the year?
Biju Muduli: Yeah, absolutely. And this is where our commitment to collaboration is truly evident. As we contemplate the rollout of this channel program, we’re equally invested in developing a robust marketing strategy. Our approach will encompass both marketing to potential partners and marketing with them. Our aim is to attract top-tier partners to our business and then collaborate closely with them to extend our reach, particularly within key verticals and segments where safeguarding against cyber threats is paramount for organisations.
Which areas do you believe will propel the next phase of growth for Securonix in both India and globally?
Sure, let me provide some insights into our growth strategy across different markets. Currently, our focus is on expanding our presence in key regions rather than spreading ourselves too thin across the globe. Our primary markets include North America, South America, Western Europe, UAE, the Middle East, ASEAN, and India. We’ve also recently expanded into Singapore, Thailand, and Indonesia, aiming to establish a strong foothold in these regions.
In terms of strategic opportunities, we’re actively pursuing initiatives such as developing a global channel plan and fostering technical partnerships, like the one we have with AWS. Our partnership with AWS is particularly significant given our reliance on Snowflake, which operates on the AWS platform. Being part of the Vista portfolio of companies also amplifies our leverage with AWS, allowing us to negotiate favourable programs and agreements.
We’re identifying territories where we have room for growth. Western Europe and the UK, in particular, present substantial opportunities for expansion. To capitalise on this potential, we’ve recently bolstered our team in the UK, hiring a new VP of European sales and channel leader. We’re currently in the process of recruiting partners in the UK, paving the way for significant growth in the coming years.
