For the past 11 years, Menlo Security has been committed to making government agencies, healthcare organizations, retailers, and enterprises of all sizes more secure and productive with our market leading browser security solutions. Today marks a moment of immense pride and excitement for us as we have surpassed $100 million in annual recurring revenue and achieved 50% growth in the last 24 months. This is a validation of the hard work, dedication, and unwavering belief in our vision that has driven us from day one. But more than that, it clearly signals that the market recognizes the critical importance of the secure enterprise browser.
In February 2024, we launched the industry's first cloud-delivered Secure Enterprise Browser solution, enabling a comprehensive approach to protecting enterprise users and applications from internet-borne attacks. In a recent report, Gartner® predicts that "by 2030, enterprise browsers will be the core platform for delivering workforce productivity and security software on managed and unmanaged devices for a seamless hybrid work experience.”1
According to Gartner, “There is a trend of adding a layer of security by enforcing consistent browser configuration and control for any user accessing productivity apps and company data from an unmanaged PC.”2
As noted in the Gartner user recommendations, “focus on hybrid offerings that can leverage browsers to securely deliver access to workforce security and productivity tools.”2
Our success story is built on a strong foundation. With $350M in total contract value, $260 million in funding, and a clear path to cash flow positivity in 2025, Menlo Security is poised for continued growth. Our 110% net retention rate and 97% gross revenue retention in the last 12 months emphasize the value we deliver to our customers.
Reaching this financial milestone isn't just about numbers; it's about the trust our customers place in us. We're proud to be trusted by over 1,000 customers and 8 million users globally, including eight of the 10 largest financial institutions in the world, 24 Global Fortune 500 companies, and large government institutions.
The path forward
Traditional security tools are no longer enough. Our Secure Enterprise Browser solution empowers businesses to embrace the future of work, providing comprehensive browser security across desktops and mobile devices. We protect users, applications, and data while allowing customers to continue using their preferred browser.
Looking ahead, we’re optimistic because the secure enterprise browsing space is poised for exponential growth. As digital transformation accelerates and work becomes increasingly browser-centric, the need for robust browser security will only intensify.
We're ready for that future. With a strong financial foundation, a world-class team, and a relentless focus on innovation, we're prepared to lead the charge. We'll continue to push the boundaries of what's possible in browser security, ensuring that our customers can navigate the digital world with confidence and peace of mind. To our customers, partners, investors, and employees, thank you for being part of this journey. The future of secure browsing is here, and Menlo Security is proud to be at the helm.
1 Gartner, Emerging Tech: Security — The Future of Enterprise Browsers, Dan Ayoub, Evgeny Mirolyubov, 14 April 2023
2 Gartner, Hype Cycle for Endpoint and Workspace Security, 2024, Franz Hinner, Chris Silva, et al., 8 August 2024
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and HYPE CYCLE™ is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved.
