Varonis Systems

Varonis Systems is a software company with headquarters in New York City with R&D offices in Herzliya, Israel. They developed a security software platform that allows organizations track, visualize, analyze and protect unstructured data. Varonis performs User Behavior Analytics (UBA) that identifies abnormal behavior from cyberattacks.[2] Their software extracts metadata from an enterprise’s IT infrastructure and uses this information to map relationships among employees, data objects, content, and usage.[3]

Varonis Systems

Type	Public
Traded as	NASDAQ: VRNS Russell 2000 Component
Industry	Computer software
Founded	2005
Founder	Yaki Faitelson Ohad Korkus
Headquarters	New York City, U.S.
Area served	Worldwide
Key people	Yaki Faitelson (CEO) Ohad Korkus (Chief Technology Officer)
Revenue	US$ 217.4 million (2017) [1]
Total assets	US$ 181.8 million (2016) [1]
Total equity	US$ 82.7 million (2016) [1]
Number of employees	1000 (2017) [1]
Website	https://varonis.com

History

Varonis Systems was founded in 2005 by Yaki Faitelson and Ohad Korkus, in order to address security issues such as file activity tracking, information rights management, and access control.[4][5] Prior to Varonis, Faitelson and Korkus worked at the global professional services and systems integration divisions of NetVision and NetApp.[6]

Faitelson and Korkus invented a solution that would retrieve metadata contained in file systems. They brought in Dr. Jacob Goldberger, an expert in statistical modeling and machine learning, to help develop the algorithms that would provide the user-data link.[7] In 2005, Faitelson, Goldberger, and Korkus filed a patent, “Automatic management of storage access control, which was granted in 2006.[8] The result of their work was the Intelligent Data Use (IDU) classification platform, a platform for gathering and analyzing file data use. The first product based on this platform, DatAdvantage, was released in 2006 - built so that enterprises can monitor file activity and user behavior, and manage data ownership, data access rights, and responsibilities of file system data.[9][10]

Varonis continued with core platform development. In 2009, Varonis added the IDU Classification Framework, which allowed Varonis products to search for keywords, phrases and patterns from file content.[11] In 2013, Varonis released DatAlert to detect and uncover insider threats and potential data breaches, notifying and alerting on suspicious file system activity including unusual access to sensitive data and changes to permissions and configuration files.[12]

Varonis raised capital from Accel Partners, Evergreen Venture Partners, Gitano Venture Capital, and EMC..[13][14]

Technology and Architecture

The Varonis Metadata Framework is implemented at two levels. Non-intrusive monitoring resides on file servers, feeding both real-time file event information and ACLs to a separate server.[15] The collected data is stored in a database. The second part, the IDU analytics engine, performs statistical analysis to derive data owners, baseline user activity, and user groupings. The Metadata Framework is able to incrementally index file metadata, thereby allowing it to maintain the current state of file metadata in its database. DatAdvantage presents this information to IT administrators. As of April 30, 2016, Varonis had 28 issued patents in the United States and 43 pending U.S. patent applications.[16]

Products

Product Category	Product
User behavior analytics and Data Security	DatAlert
Data Governance and Data Protection	DatAdvantage
Identity and Access Management	DataPrivilege
Archiving and Migration	Data Transport Engine
Enterprise File Sync and Sharing	DatAnywhere
Enterprise Search	DatAnswers

Supported Platforms

• Windows
• UNIX/Linux (but no DatAnywhere client)
• SharePoint
• Exchange
• Office 365[17]
• Active Directory/LDAP
• EMC NAS
• NetApp NAS
• HP NAS
• Hitachi NAS[18]
• IBM Storewize V7000 [19]

Customers

• EMC2[11]
• Barclays Capital [11]
• Phillip Morris [11]
• Boston University [11]
• Sirius XM Radio [11]

Awards

• Fast 50 Reader Favorites of 2008[20]
• Network World – 10 enterprise software companies to watch [6]

References

1. "Varonis Announces Fourth Quarter and Full Year 2017 Financial Results". Varonis Systems Inc.
2. Press, Gil. "The Good News About Ransomware And How It Changes The Cybercrime Economy". Retrieved 2016-08-20.
3. Pratt, Mary K. "Loyola University Maryland". Retrieved 2016-08-20.
4. "This Israeli company managed to IPO, double its valuation and cross the $1B mark, and that was just on Friday". Geektime. 2014-03-02. Retrieved 2016-09-02.
5. Crunchbase
6. Brodkin, John (April 7, 2007). "10 enterprise software companies to watch". ComputerWorld.
7. Professor Jacob Goldberger Bloomberg
8. Automatic Management of storage access control US Patent 20060277184 A1
9. Press, Gil (October 21, 2013). "Do You Know Where Your Data Is And Who Reads It? Varonis Knows". Forbes.
10. Perlroth, Nicole (March 29, 2015). "Secrecy on the Set: Hollywood Embraces Digital Security". The New York Times.
11. Form S-1 Registration Statement SEC
12. "VARONIS UNVEILS DATALERT TO ENABLE REAL-TIME DETECTION OF POTENTIAL BREACHES AND UNAUTHORIZED CHANGES (NASDAQ:VRNS)". ir.varonis.com. Retrieved 2016-09-09.
13. "Varonis Systems Soars As 2014's First Technology IPO". 2014-02-28. Retrieved 2016-09-02.
14. Konrad, Alex (March 3, 2014). "No IPO Hangover: Varonis' CEO Talks Going Public After A Big First Day". Forbes.
15. Varonis: Data Governance in the Hands of the People ESG
16. Varonis Systems 1st Quarter 2016 Report (Form 10-Q)
17. Systems, Varonis. "Varonis Launches Compatibility With Office 365, Providing Peace of Mind for Businesses Moving to the Cloud". Retrieved 2016-08-20.
18. Hitachi NAS Platform with Varonis Hitachi Technical Paper
19. Systems, Varonis. "Varonis Announces Integration with IBM Storewize V7000 Storage Systems". Retrieved 2016-03-29.
20. "The Fast 50 Reader Favorites of 2008". Fast Company.

• "Varonis Systems Inc. 2015 Annual Filing (10K Form)". United States Securities and Exchange Commission.