Duo Security, which specializes in two-factor authentication (2FA), endpoint security and single sign-on (SSO) technology, surpassed $100 million in annual recurring revenue last year, the company says.
Moreover, Duo's channel business grew 600 percent in the past year thanks in part to the company's commitment to partnering with managed service providers (MSPs) and security solution providers, the business said -- though actual channel revenue dollar figures were not disclosed.
Duo Eyes Rapid Growth
Other recent Duo accomplishments included:
- Series D Funding: Duo raised $70 million in Series D funding at a $1 billion plus valuation.
- New Offices: Duo opened new offices in Austin, Texas and San Mateo, California.
- Staff Additions: Over the last two years, Duo has tripled its staff from 200 to nearly 600 as of last month.
- EMEA Expansion: Duo has quadrupled its number of paying customers in EMEA to nearly 2,000 over the last two years.
Duo anticipates "continued rapid growth" in 2018, CEO Dug Song stated. The company intends to explore ways to disrupt the security status quo, Song noted, and drive innovation.
What Is Duo?
Duo provides a Trusted Access platform that verifies the identity of end users and health of their devices before they connect to applications.
Key features of Trusted Access include:
- Application Protection: Secures cloud and on-premises applications and enables users to limit access to applications based on user type and device.
- Endpoint Remediation: Offers device access policies that allow users to block any risky devices from accessing data and apps and safeguard organizations against software vulnerabilities.
- 2FA: Uses 2FA to confirm users' identities.
- SSO: Enables users to log in only once to securely access all of their enterprise cloud applications.
Furthermore, Duo has launched integrations in conjunction with several global technology companies, including:
- VMware: Integrated with the VMware AirWatch enterprise mobility management (EMM) solution and launched Duo Beyond, which helps organizations identify managed and unmanaged mobile devices attempting to access their corporate applications.
- Microsoft: Integrated its 2FA technology with Microsoft Azure Active Directory to help Azure AD Premium customers secure their cloud applications.
- Workday: Integrated its 2FA technology into Workday's user interface, enabling Workday customers to mitigate phishing incidents and ensure validated, trusted access to Workday's cloud enterprise resource planning (ERP) platform from any device.
Duo serves more than 10,000 customers across 100 countries. It also manages more than 300 million authentication events every month and provides security insights into more than 8 million devices.