Welcome to our dedicated page for Rapid7 news (Ticker: RPD), a resource for investors and traders seeking the latest updates and insights on Rapid7 stock.
Rapid7, Inc. (NASDAQ: RPD) is a prominent cybersecurity company dedicated to creating a safer digital world by simplifying cybersecurity for organizations. Founded in 2000 and headquartered in Boston, Rapid7 has grown to become a global leader in providing comprehensive security solutions.
With a focus on vulnerability management, extended detection and response (XDR), security information and event management (SIEM), cloud security, threat intelligence, and security orchestration, automation, and response (SOAR), Rapid7 empowers over 11,000 customers worldwide. These solutions help security teams reduce vulnerabilities, detect and respond to threats, and automate routine tasks, ensuring robust protection against cyberattacks.
Rapid7 recently announced the opening of a new office in Prague, Czech Republic, which will serve as a hub for technical talent and innovation. This new location will also house a Security Operations Center (SOC) to enhance the company's 24x7 Managed Detection and Response (MDR) services. The Prague office aims to create over 100 jobs by mid-2024, focusing on areas like data engineering, software development, and IT.
Continuing its trend of innovation, Rapid7 introduced an AI-powered cloud anomaly detection solution. This offering improves the speed and accuracy of threat detection in cloud environments, reducing false positives and enabling rapid response to actual threats. This solution is currently available for select customers and integrates seamlessly with Rapid7's existing platform.
Rapid7's Managed Digital Risk Protection (DRP) service further extends its security offerings by monitoring external threats on the clear, deep, and dark web. This service, combined with MDR, provides comprehensive coverage of both internal and external attack surfaces, significantly enhancing threat detection and response capabilities.
The company has received industry recognition for its InsightIDR solution, which was named the Best SIEM Solution at the SC Awards Europe 2024. InsightIDR stands out for its ability to streamline detection and response through precise alerting, detailed investigations, and actionable automation.
Rapid7’s commitment to research is highlighted by its annual Attack Intelligence Report, which provides valuable insights into modern cyber threats. The 2024 report emphasized the increasing threat of zero-day vulnerabilities and the importance of timely patching and mitigation strategies.
Overall, Rapid7 continues to expand its global footprint, invest in innovation, and deliver top-tier cybersecurity solutions, making it a vital player in the fight against cyber threats.
Commercetools announced the appointment of Andrew Burton as its new CEO, effective July 8, 2024. Burton succeeds co-founder Dirk Hoerig, who will transition to Chief Innovation Officer. Burton brings over 25 years of experience, having significantly grown Rapid7's ARR from ~$150M to over $800M. Hoerig will now focus on product innovation and customer relationships.
Recent milestones for commercetools include being named a Leader in the IDC MarketScape report, launching a HIPAA-compliant solution, and introducing commercetools Foundry. The company saw +65% ARR growth in the Americas and a +45% YoY increase in GMV to over $30 billion in 2023. Burton is the third significant hire in the last 18 months, aiming to drive further growth and innovation.
Rapid7 (Nasdaq: RPD) has promoted three experienced sales leaders to General Manager positions in a new regional model aimed at enhancing customer engagement and driving sales efficiency. David Boffa will manage the Americas, David Howorth will lead EMEA, and Rob Dooley will be responsible for APAC. Each will oversee customer retention, expansion, and acquisition in their regions, reporting directly to CEO Corey Thomas. Additionally, Chief Customer Officer Larry D’Angelo will step down on July 12, 2024, and his role will not be replaced. Rapid7 anticipates second quarter 2024 Annualized Recurring Revenue (ARR) of $814 - $816 million, reflecting an 8-9% year-over-year increase, in line with expectations. Full results will be announced on August 6, 2024.
Rapid7 (NASDAQ: RPD) will announce its second quarter 2024 financial results on August 6, 2024, after market close. The company, recognized for its expertise in extended risk and threat detection, will host a conference call at 4:30 p.m. ET on the same day to discuss the results and provide a business outlook. Interested parties can access the call via telephone or a live webcast, with details available on the company’s investor relations website.
Rapid7, a leader in risk and threat detection, announced plans to acquire Noetic Cyber, a company specializing in Cyber Asset Attack Surface Management (CAASM). The acquisition aims to enhance Rapid7's security operations platform by providing better visibility of both internal and external assets, thus improving risk anticipation and management.
This strategic move is expected to aid security teams by offering a more comprehensive and searchable risk context, enhancing asset inventory management, and automating remediation. The transaction is anticipated to close in Rapid7's fiscal third quarter and will not significantly impact the company's 2024 Annualized Recurring Revenue (ARR).
8x8 (NASDAQ: EGHT), a leading provider of cloud contact center and unified communications platforms, has appointed Andrew Burton to its board of directors, effective June 17, 2024. Burton, currently President and COO at Rapid7 (NASDAQ: RPD), brings extensive experience in SaaS and technology, having led global teams in high-growth environments. His leadership spans go-to-market strategies, engineering, and operations. 8x8's CEO, Samuel Wilson, expressed enthusiasm for Burton's appointment, highlighting his expertise in innovative technology and product development. Following this appointment, 8x8's board now comprises seven members.
Rapid7 (NASDAQ: RPD) has upgraded its AI Engine with generative AI capabilities, enhancing its Managed Detection and Response (MDR) services. This AI Engine now integrates large language models to improve threat detection, alert triage, and incident response. The new capabilities help Rapid7's security operations center (SOC) quickly identify and mitigate threats, reducing false positives and enabling faster resolution. The SOC assistant, powered by this AI Engine, significantly increases the efficiency of Rapid7 analysts. The AI Engine processes over 4.8 trillion security events weekly, providing actionable insights and accelerating incident reporting. This technological advancement aims to deliver superior security services and maintain Rapid7's position as a leader in AI-driven cybersecurity solutions.
Rapid7's SIEM solution, InsightIDR, has been awarded Best SIEM Solution at the SC Awards Europe 2024, marking the second time it has received this honor, with the previous win in 2022.
InsightIDR is praised for its ability to manage hybrid attack surfaces with embedded intelligence, AI-powered detections, and automated responses. It is noted for its high fidelity threat library and its role in enhancing operational efficiency and reducing the need for multiple security products.
The SC Awards Europe evaluates products based on their ability to exceed customer expectations, with a panel of 29 judges from various industries.
Rapid7 (NASDAQ: RPD) has announced a collaboration with Comcast Business to support the new Comcast Business Managed Detection and Response (MDR) solution. This initiative leverages Rapid7’s security analytics and expertise to help enterprises of all sizes manage cyber threats. The MDR service combines technology and human expertise for threat hunting, monitoring, and incident response, allowing rapid threat identification and response without additional staffing. Rapid7's platform includes Next-Generation Antivirus (NGAV) and Ransomware Prevention, aimed at stopping malware and ransomware attacks early to minimize impact. Jeremiah Dewey, SVP at Rapid7, highlighted the combination of a 24/7 Security Operations Center and advanced SecOps technology in delivering superior threat detection and prevention.
Rapid7 has released its 2024 Attack Intelligence Report, highlighting significant trends in cyber threats, based on data dating back to 2019. The report reveals that more than half (53%) of mass compromise events in 2023 stemmed from zero-day vulnerabilities, a notable increase from 43% in 2022. It also notes that 36% of widely exploited vulnerabilities occurred in network perimeter technologies.
Other key points include the prevalence of simpler exploits like command injection, and that 41% of incidents observed in 2023 resulted from missing or weak multi-factor authentication. Rapid7 tracked over 5,600 ransomware incidents in 2023. The report underscores the critical need for zero-day patching and enhanced logging to combat these advanced threats.
Rapid7 (NASDAQ: RPD), a leader in extended risk and threat detection, will attend two upcoming investor conferences. The J.P. Morgan 52nd Annual Global Technology, Media and Communications Conference in Boston, MA, is scheduled for May 21, 2024, at 3:45 p.m. Eastern Time. Additionally, Rapid7 will participate in the 2nd Annual UBS Women in Tech Summit in San Francisco, CA, on June 11, 2024. The company's presentation from the J.P. Morgan conference will be webcast live, with a replay available on Rapid7's investor relations website.
FAQ
What is Rapid7, Inc.?
When was Rapid7 founded?
Where is Rapid7 headquartered?
What recent expansions has Rapid7 undertaken?
What innovations has Rapid7 introduced recently?
What is Rapid7’s Managed Digital Risk Protection (DRP) service?
How does Rapid7 contribute to cybersecurity research?
What is InsightIDR?
How many employees does Rapid7 have?
How can I learn more about Rapid7’s job opportunities in Prague?
