Rooted in Resilience: The Story Behind Absolute’s Rise

Absolute Software was co-founded by Christian Cotichini and Fraser Cain in 1993 with a mission to create innovative computer tracking software called Computrace. Christian Cotichini, a serial entrepreneur with extensive experience in technology and innovation, served as Absolute Software’s CEO until 1997 and then as a Director until 2009. Over the years, Cotichini has founded and led multiple technology-focused companies, including MAKE Technologies and Subserveo. He currently serves as Chief Strategy Officer at HeroX, a platform for crowdsourcing and open innovation. (Christian Cotichini)

Fraser Cain, a co-founder of Absolute Software, later shifted his focus to the field of astronomy and science journalism. He is the founder and publisher of Universe Today, a widely popular space news website, and co-host of the Astronomy Cast podcast. Cain’s work in Absolute Software and subsequent ventures highlight his interest in leveraging technology to drive media and public engagement in science​. (Fraser Cain)

John Livingston joined Absolute Software in 1995, leading the company as CEO until 2013. Under his guidance, Absolute Software became a prominent player in endpoint security, emphasizing asset tracking and theft recovery. With an MBA from the University of Calgary, Livingston’s background combines technology and business expertise, making him instrumental in Absolute’s growth. (John Livingston)

Keeping Up with the Cyber Joneses: How Absolute Thrives in a Risky World

The cybersecurity market has experienced significant growth in recent years, driven by the increasing frequency and sophistication of cyber threats. In 2023, the global cybersecurity market was valued at approximately USD 222.66 billion and is projected to grow at a compound annual growth rate (CAGR) of 12.3% from 2023 to 2030. (Grand View Research)

Several factors contribute to this expansion. The proliferation of e-commerce platforms, the emergence of smart devices, and the widespread deployment of cloud solutions have increased the attack surface for cybercriminals. Additionally, the rise of remote work has introduced new vulnerabilities, necessitating robust security measures.

The cybersecurity landscape is continually evolving, with new threats emerging regularly. Organizations face challenges such as ransomware attacks, phishing schemes, and advanced persistent threats (APTs). To combat these issues, businesses are investing in advanced security solutions, including endpoint protection, network security, and identity and access management.

Despite the growing demand for cybersecurity services, the industry faces a significant talent shortage. As of 2023, there was a global shortage of 3.4 million cybersecurity professionals, making it difficult for organizations to adequately protect their digital assets. (World Economic Forum)

In response to these challenges, companies are increasingly adopting artificial intelligence (AI) and machine learning technologies to enhance their security posture. These technologies can help detect and respond to threats more efficiently, addressing the skills gap and improving overall security.

The cybersecurity market is also witnessing a trend toward consolidation. Larger firms are acquiring smaller companies to expand their service offerings and improve their competitive position. This consolidation aims to provide more comprehensive security solutions to meet the complex needs of modern organizations.

Vision with Precision: Absolute’s Mission to Secure the Digital World

Mission

Absolute Software’s mission is to strengthen organizations’ cyber resiliency. The company empowers its clients, ranging from enterprises to educational institutions, to stay secure in the face of growing cyber threats. With a commitment to security resilience, Absolute enables organizations to manage and protect their digital assets effectively. (About the Company)

Vision

Absolute envisions a world where organizations can operate with confidence in their digital security. As the only provider of intelligent, self-healing security solutions embedded in device firmware, Absolute strives to set the standard for endpoint resilience. By pioneering technology that provides real-time visibility, control, and automatic remediation, Absolute aims to secure all devices within any network across industries.

Problems They Solve

Absolute addresses several critical cybersecurity challenges:

1. Endpoint Security: In today’s remote and hybrid work environments, endpoints like laptops and mobile devices face constant threats. Absolute’s solutions help protect these endpoints from breaches and unauthorized access.
2. Device Compliance: Organizations need to comply with industry standards and regulations. Absolute provides tools to monitor and ensure devices meet compliance requirements.
3. Self-Healing Technology: Absolute’s Persistence® technology, embedded in over 600 million devices worldwide, allows security software to repair itself if disabled or removed, which is essential for maintaining ongoing security.
4. Data Protection and Privacy: Absolute safeguards sensitive information by providing remote management tools, allowing organizations to protect data and respond to potential breaches quickly​.

Business Model

Absolute operates on a Software-as-a-Service (SaaS) model, offering subscription-based access to its cybersecurity solutions. This model allows organizations to scale their security needs according to their changing requirements, whether they’re small businesses or large enterprises. Absolute partners with device manufacturers, embedding its Persistence® technology directly into the firmware of devices. This partnership with top manufacturers, including HP, Lenovo, and Dell, provides Absolute with a unique distribution channel and enhances device security right from production.

More Than Just Another Firewall: Absolute’s Suite of Cyber Shields

Absolute Software offers a comprehensive suite of products and services designed to enhance endpoint security and data protection for organizations. Their portfolio includes: (The Absolute Platform)

1. Absolute Secure Endpoint

This solution provides persistent endpoint visibility and control, ensuring devices remain secure and compliant. Key features include:

• Absolute Visibility: This solution serves as the source of truth for device and application health, offering real-time insights into endpoint status and security posture.
• Absolute Control: It provides a lifeline to protect at-risk devices and data by enabling remote actions such as data deletion or device freezing, even when devices are off the corporate network.
• Absolute Resilience: This feature delivers application self-healing and confident risk response, ensuring that critical applications remain healthy and operational by automatically repairing or reinstalling them if altered, disabled, or uninstalled.
• Absolute Ransomware Response: Introduced in April 2022, this offering enhances organizations’ preparedness against ransomware attacks. It provides tools and strategies to accelerate endpoint recovery, minimize downtime, and maintain business continuity in the event of an attack.

2. Absolute Secure Access

This suite focuses on providing secure and reliable network connectivity for remote and mobile users. Components include:

• Absolute Core: Designed for mobility and the modern edge, it ensures secure and reliable access to resources, supporting a distributed workforce.
• Absolute Edge: It delivers the best user experience for the software-defined perimeter, facilitating seamless and secure access to applications and data.
• Absolute Enterprise: This comprehensive Secure Service Edge (SSE) solution provides security controls and threat protection across web, cloud, and private applications, integrating features like Secure Web Gateway (SWG), Cloud Access Security Broker (CASB), and Zero Trust Network Access (ZTNA).
• Absolute Insights for Network: It enhances diagnostics and remediation for digital experience monitoring, offering visibility into network performance and user experience to proactively address issues.
• Absolute Secure Web Gateway: This web security solution protects data, prevents threats, and secures access to cloud applications, ensuring safe internet usage and compliance with security policies.

3. Application Persistence-as-a-Service (APaaS)

This service enables software vendors to embed Absolute’s self-healing technology into their applications. This ensures that critical applications can automatically repair or reinstall themselves if tampered with or removed, maintaining continuous protection.

4. Absolute Persistence® Technology

At the core of Absolute’s offerings is their patented Persistence® technology, embedded in the firmware of over 600 million devices. This technology ensures an unbreakable connection between the device and the Absolute platform, allowing for continuous monitoring, control, and self-healing capabilities.

Persistence Pays: How Absolute’s Self-Healing Tech Defends Against All Odds

Absolute Software employs innovative technologies to deliver robust endpoint security and data protection solutions. Their approach centers on unique features and advanced methodologies that ensure continuous device security and compliance.

Persistence® Technology

At the heart of Absolute’s offerings is their patented Persistence® technology. Embedded in the firmware of over 600 million devices, this technology establishes an unbreakable link between the device and Absolute’s platform. This connection allows for continuous monitoring and enables the automatic reinstallation of security applications if they are tampered with or removed, ensuring devices remain protected at all times.

Application Resilience

Absolute extends its self-healing capabilities to third-party applications through Application Persistence-as-a-Service (APaaS). This service allows software vendors to integrate Absolute’s self-healing technology into their applications, ensuring that essential software remains installed, healthy, and compliant, even in the face of malicious attacks or accidental removal.

Endpoint Visibility and Control

Absolute provides organizations with real-time visibility into their endpoint devices. This includes detailed information on device health, software status, and security posture. Administrators can enforce security policies, remotely freeze or wipe devices, and ensure data protection, even if devices are off-network.

Zero Trust Network Access (ZTNA)

In response to the evolving security landscape, Absolute offers Zero Trust Network Access solutions. ZTNA implements a zero-trust security model, granting access based on user identity and device health rather than network location. This approach ensures secure and reliable network connectivity for remote and mobile users, maintaining data integrity and privacy.

Ransomware Response

Recognizing the growing threat of ransomware, Absolute introduced a Ransomware Response solution. This offering enhances organizations’ preparedness against ransomware attacks by providing tools and strategies to accelerate endpoint recovery, minimize downtime, and maintain business continuity in the event of an attack.

Gold Standards and Bold Moves: The Absolute Impact

Absolute Software has significantly influenced the cybersecurity industry. Their Persistence® technology, embedded in over 600 million devices, ensures continuous endpoint security. This innovation has set a new standard for device protection. Their client base spans various sectors, including education, healthcare, and finance.

Awards and Recognitions

Absolute’s contributions have earned them several accolades:

• 2023 Cybersecurity Excellence Awards: Absolute was named a gold winner, with their Ransomware Response recognized as an industry-leading Endpoint Security product. (Absolute)
• 2023 Global InfoSec Awards: They won three awards, including Next Gen Cyber Resilience Solution for their Application Persistence-as-a-Service (APaaS). (Absolute)
• 2024 Frost & Sullivan Radar for Endpoint Security: Absolute was named a leader, standing out for its ability to ensure the efficacy, security, and recoverability of endpoints at both hardware and software levels. (Absolute)
• 2024 G2’s Best Software Awards: Absolute was recognized in the Best Security Products list for Endpoint Security. (G2)
• 2020 Technology Impact Awards: Absolute was a finalist in two categories: Company of the Year – Anchor Success and Tech Culture of the Year. (Absolute)
• 2022 American Business Awards: They received a Bronze Stevie® Award in the Company of the Year, Computer Software category. (Absolute)

A Secure Network: How Absolute’s Partnerships Build Stronger Shields

OEM Partnerships

Absolute partners with leading Original Equipment Manufacturers (OEMs) to embed its Persistence® technology into device firmware. This integration ensures continuous endpoint security. Notable OEM partners include:

• Dell: Dell incorporates Absolute’s technology to provide robust security features in its devices.
• Lenovo: Lenovo devices come with embedded Persistence® technology, offering enhanced security for users.
• HP: HP collaborates with Absolute to deliver self-healing endpoint security solutions. (Wikipedia)

Independent Software Vendor (ISV) Collaborations

Absolute works with ISVs to strengthen application resilience. Through its Application Persistence-as-a-Service (APaaS), Absolute enables applications to self-heal. Key ISV partners include:

• Ericom: Ericom leverages APaaS to ensure its security solutions remain resilient. 
• Utopic: Utopic integrates Absolute’s technology to maintain the integrity of its applications.
• WinMagic: WinMagic uses APaaS to enhance the durability of its encryption solutions. (Business Wire)

Technology Alliances

Absolute collaborates with technology companies to create complementary solutions. These alliances include:

• Microsoft: As a Gold Certified Partner, Absolute integrates with Microsoft System Center Configuration Manager (SCCM) for enhanced security reporting.
• RSA Security: Absolute’s solutions interoperate with RSA Security Analytics for advanced threat detection.

Funding the Future: How Absolute’s Financial Growth Fuels Innovation

Absolute Software has strategically raised capital to support its growth and innovation in the cybersecurity sector. In October 2020, the company completed a public offering of common shares, raising approximately $69 million. This funding aimed to enhance product development and expand market reach. (Absolute)

In May 2023, Absolute announced its acquisition by Crosspoint Capital Partners, a private equity firm specializing in cybersecurity investments. The transaction valued Absolute at an enterprise value of $870 million, reflecting the company’s strong market position and growth potential. (Absolute)

Revenue Growth

Absolute has demonstrated consistent revenue growth over the years. In the fourth quarter of fiscal year 2021, the company reported revenue of $31.8 million, a 17% increase compared to the same period in the previous year. For the full fiscal year 2021, revenue reached $120.8 million, marking a 15% year-over-year growth. (Absolute)

The upward trend continued into fiscal year 2022. In the fourth quarter, Absolute reported revenue of $52.5 million, a 65% increase from the previous year. For the full fiscal year 2022, revenue totaled $197.3 million, representing a 63% year-over-year growth. (Absolute)

In the third quarter of fiscal year 2023, Absolute reported revenue of $58.8 million, a 13% increase compared to the same period in the previous year. This consistent growth underscores the company’s expanding footprint in the cybersecurity market. (Absolute)

Annual Recurring Revenue (ARR)

A key metric for Absolute is its Annual Recurring Revenue (ARR). As of March 31, 2023, the company reported a total ARR of $229.5 million, a 13% increase year-over-year. This growth reflects the company’s success in securing long-term customer commitments and delivering value through its subscription-based services. (Absolute

Through strategic funding initiatives and consistent revenue growth, Absolute Software has solidified its position as a leader in the cybersecurity industry. The company’s financial health enables ongoing investment in innovation and expansion, ensuring it continues to meet the evolving security needs of organizations worldwide.

Absolutely Inspired: Get Secure, Get Started, Get Going

Absolute Software stands at the forefront of cybersecurity innovation. They provide unique solutions to protect devices, data, and applications. Their patented Persistence® technology offers continuous endpoint security, keeping organizations resilient against cyber threats. With embedded security in over 600 million devices, Absolute ensures that organizations can monitor, manage, and protect their assets remotely and securely. Their self-healing capabilities and strong partnerships with major OEMs and ISVs make them an industry leader.

Absolute also responds to modern challenges, like ransomware, by offering specialized solutions. Their dedication to resilience and security has driven steady revenue growth, expanded partnerships, and earned numerous industry awards. They continue to serve a diverse client base, including education, healthcare, and finance, proving the versatility and strength of their offerings.

If you’re inspired by Absolute Software’s journey, consider how you can turn your ideas into impactful solutions. For more insights into industry leaders and tech innovations, check out other articles on Venture Kites. Our articles cover a wide range of topics to fuel your entrepreneurial spirit.