Arete Incident Response Achieves Record Sales and Profit Performance in 2020
Global Cybersecurity Services Leader Rapidly Accelerates Growth for Third Consecutive Year
West Palm Beach, Florida – February 24, 2021 – Arete Incident Response, a leading global provider of cybersecurity services and technology to corporations, law firms, insurance carriers, and government entities, announced today that it achieved record sales and profit for the fiscal year ending December 31, 2020. This was the company’s third consecutive year of substantial revenue growth with a 320% increase compared to 2019.
“Our team delivered another year of outstanding performance,” said Arete’s co-founder and CEO, Joe Mann. “We continued to expand our relationships with premier law firms, insurance carriers, corporations, and government clients. Our focus on professional staffing, process automation, training, accuracy, and execution motivated many of our clients to reward us with a larger share of their business in 2020. We believe our success is largely due to excellent responsiveness to cyberattacks coupled with close collaboration with our insurance carrier and law firm partners. We continue to deliver optimal results to corporations, government entities, and other victims of cybercrime.”
In 2020, Arete grew revenue by 320% and EBITDA by 327% versus the prior year. The company also generated a 390% increase in new project wins versus 2019 and expanded its employee base by 30% in Q4 of 2020, welcoming top incident response talent across North America, the United Kingdom, and Asia. The company has plans for additional growth in 2021, including expansion of its U.S., Canadian, EU, and Asia-Pacific operations centers, and on-the-ground first responder services. Most new hires will be for expert incident response roles at all levels, including incident response directors, forensic analysts, and SOC, MDR, and operations associates.
“We closed the year with a solid pipeline of prospective clients and large projects,” said Jim Jaeger, Arete’s co-founder and president. “Entering 2021, we have plans to continue expanding our practice across the globe in partnership with premier law firms and insurance carriers with a primary focus on attracting and keeping talented people, adding and enhancing proven technology, and continuing our efforts in process improvement, automation, and training.”
Arete Incident Response partners with clients to reduce the burden of preparing for, detecting, and responding to cyberattacks. With core skills in incident response triage, digital forensics, malware reverse engineering, remediation, and testifying expertise, Arete’s elite team of cybersecurity experts have created unparalleled capabilities to address the entire cyber incident life cycle, from incident response readiness assessments to post-incident remediation and managed security services. Arete’s advisory services provide legally defensible, compliant cyber strategies that assist in continuously improving an organization’s cyber posture. Learn more at www.areteir.com.