Analyst Coverage: Philip Howard
Varonis Systems, Inc. (“Varonis”) was founded in 2004, and its shares of common stock began trading on the Nasdaq Global Select Market in February 2014. The company has its headquarters in New York while its development labs are located in Israel. Otherwise, Varonis operates globally. Approximately 40% of the company’s 2013 revenues ($74.6 million, a 40% growth on the previous year) were derived internationally, and its headcount has nearly doubled over the past year with the company employing nearly 573 people as of December 31, 2013.
The company’s focus is on the governance of human-generated data as opposed to structured or machine-generated data. In other words, emails, spreadsheets, Word documents, PowerPoint presentations, images and so on.
Varonis currently offers five major products: Varonis DatAdvantage; DataPrivilege; IDU Classification Framework (comprising the Data Governance Suite), which help organizations map, analyse and manage their data; the Data Transport Engine, which is an archival and migration solution for unstructured data; and DatAnywhere, which provides cloud-based synchronisation: the company likens this product to a secure version of Dropbox.