Everbridge Stock

Everbridge, Inc. (Everbridge) operates as a global software company. The company empowers resilience by leveraging intelligent automation technology to enable customers to anticipate, mitigate, respond to, and recover from critical events to keep people safe and organizations running.

The company's customers use its platform to identify and assess hundreds of different types of threats to their organizations, people, assets or brand. The company's solutions enable organizations to automate and deliver intelligent, contextual messages to, and receive verification of delivery from, hundreds of millions of recipients, across multiple communications modalities, such as voice, Short Message/Messaging Service (SMS) and email, in several languages and dialects - all simultaneously. The company's Critical Event Management platform consists of a comprehensive set of software applications packaged for organizations to address five core use cases, safeguarding: Business Operations, People Resilience, Digital Operations, Smart Security, and Public Safety. The company's individual products address the full spectrum of tasks an organization requires to manage a critical event, including Mass Notification, Safety Connection, IT Alerting, Risk Intelligence, Public Warning, Community Engagement, Crisis Management, CareConverge, Control Center, Travel Protector, SnapComms and E911. Everbridge applications leverage its Critical Event Management platform, permitting customers to use a single contacts database, rules engine of algorithms and hierarchies, and user interface to accomplish multiple objectives. The company's broad suite of integrated applications delivered via a single global Critical Event Management (CEM) platform is a significant competitive advantage in the resilience market for CEM solutions.

Growth Strategy

The company intends to drive growth in its business by building on its position as a global provider of resilience solutions with critical event management, critical communications and enterprise safety applications. The key elements of the company's growth strategy are to accelerate its acquisition of new customers; further penetrate its existing customers; expand its partner ecosystem; introduce new platform improvements and innovation to target new markets and use cases; expand its international footprint; maintain its technology and thought leadership; and opportunistically pursue acquisitions.

Platform

The company's SaaS-based critical communications and resilience platform is architected on a single code base to deliver multi-tenant capability and the speed, scale and resilience necessary to communicate, collaborate and orchestrate the response to critical events, when they occur.

Additional core technical attributes of the company's platform include:

Monitors more than 100 types of threat data and aggregates more than 36,000 security threat data sources for situation assessment and risk monitoring.

Multi-tenant architecture that supports multiple layers of redundancy to maximize uptime and delivery of critical content, regardless of volume or throughput requirements.

Dynamic spatial/geographic information system capability to geo-target communications by zip code, street address or a specific radius from a location.

Support for two-way communications and alerting across a comprehensive range of different communication channels and devices, including wireless phones, landlines, hand-held communication and other voice-capable devices, desktop, satellite communication, cell broadcast, location-based SMS, SMS, two-way radios, TV, outdoor digital signage, sirens and internet enabled devices, social media and websites.

Designed to meet rigorous security and compliance requirements for financial services firms, healthcare institutions, the U.S. federal government and other regulated industries, including facilitating compliance with health care requirements such as HIPAA's privacy and security obligations. The company also has products that comply with NIST 800-53, holding more than 15 FedRAMP authorizations.

Extensive set of APIs and configuration capabilities to allow customers and partners to easily integrate the company's platform with other systems. The company's APIs' two-way invocation capabilities enable third-party systems to flexibly and easily integrate with its platform.

Multi-channel visualization capabilities support integrated views of threats, incidents and status of response to improve management visibility and control.

Supports easy-to-use native mobile applications, including multiple secure mobile applications for message initiation, management and reporting.

Supports push notifications and two-way conversations that enable mobile users to send and receive secure messages such as text, pictures, videos and the users' current geographic locations.

Contact Stores

The company's contact stores manage contact profiles and connections from more than 6,700 customers based in over 87 countries as of December 31, 2023. They are initially created through an upload of contacts from the customer and are automatically updated with the most contact information provided by the customer or by individuals who opt-in to receive notification from its Community Engagement application. The company's contact stores are simultaneously enriched by geographic, situational and other real-time data. The company's contact stores are repositories for contact details, attributes and business rules and preferences, such as a person's last-known location, language spoken, special needs, technical certifications and on-call status.

The company leverages the data contained in its contact stores in a number of significant ways. The company's data asset across multiple verticals enables it to develop best practices for reaching the intended contact, on the correct device, at the right location, at the appropriate time. The company also uses these data to better understand its customer base and their emerging use cases in order to improve its existing applications and develop new applications.

Everbridge Network

An important component of the company's platform is its Everbridge Network, which allows its customers to share relevant situational awareness information with each other. Public safety agencies, for example, can publish information to the Everbridge Network about incidents that might prove disruptive to the movement of people, goods and services for businesses within a certain area.

Applications

Through its CEM platform, the company delivers reliable enterprise-ready applications that provide organizations with the ability to assess threats, locate people, automate actions, monitor incident response, and deliver contextual communications in any volume, in near-real time. The company has designed its applications' user interface to be easy to use. The company understands that since some of its applications will be utilized to manage complex situations or to send large volumes of messages to key stakeholders during stressful situations, streamlining the user interface to reduce user errors and anxiety is essential. The company conducts extensive usability testing and design reviews with its stakeholders, and has applied in its designs the lessons learned over more than a decade of working with critical communications users and professionals.

The company's applications enable communications to key stakeholders during emergency situations; corporate communications with customers and employees; automated outreach to on-call personnel; integrated threat assessment and visualization; integration of physical security data with location awareness data gathered from travel, network and access systems to rapidly find and communicate with employees during disruptive events; securely designed and efficiently implemented communications among healthcare providers and patients; community engagement and collaboration with citizens and businesses; critical Internet of Things (IoT) communications between machines and from machines to people; and mobile response plan deployment and management of incidence response.

The company's Critical Event Management solutions include:

Business Operations: Everbridge Business Operations helps businesses prepare for, and respond to, critical events, protecting facilities and business operations. Built on Everbridge's industry-leading CEM platform, businesses can detect potential risks which might impact business operations and orchestrate a response in seconds across teams, as well as digital and physical systems.

People Resilience: Everbridge People Resilience helps businesses prepare for, and respond to, critical events, keeping people healthy, safe, and productive wherever they work or travel around the globe. Built on Everbridge's industry-leading CEM platform, businesses can detect potential threats that might impact people, and orchestrate a rapid response across teams as well as digital and physical systems.

Digital Operations: The Everbridge Digital Operations Platform goes one step beyond signal enrichment by combining signals from multiple monitoring tools into a relevant context that provides resolvers with clear situational awareness. Massive growth in digital service has both empowered businesses and exposed new vulnerabilities which expands the possibility of threats. A digital operations platform enables agile service delivery models, providing resiliency for IT systems in an increasingly virtual world. Organizations consider great customer experiences imperative to their business and are pivoting towards streamlining and automating digital operations. As a result, service uptime is crucial to delivering that experience. Through event correlation, incident suppression, signal enrichment, context-rich categorization, and prioritization, organizations can monitor issues and react before an incident becomes a business problem. The Everbridge Digital Operations Platform enables customers to automate remedial actions based on previous incident resolution. Automating digital operations allows teams to open fewer tickets and spend less time chasing or reinventing the same resolution, leading to faster Mean Time to Repair (MTTR) and more time for innovation.

Smart Security: Everbridge Smart Security helps organizations maintain control of their security by identifying threats to their people or assets and orchestrating a rapid response across teams and systems, all within an easy-to-use common platform. Theft, vandalism, violence, civil unrest, terrorism, and natural disasters are just some of the critical events security practitioners are faced with today. Keeping people safe and assets secure in the face of ever-increasing and ever-more diverse threats is a constant challenge for many organizations. Operations also continue to grow, involving more systems, more users, and much more data.

Public Safety: Public Safety harnesses the ability to monitor critical events, alert the population, and mobilize a coordinated response across multiple agencies. The frequency of natural and human-made disasters is on the rise, and simultaneously, monitoring, collaborating, and communicating during incidents is becoming increasingly complex.

With enterprise grade redundancy, scalability and uptime, the Everbridge platform has the ability to reach residents and visitors in almost all of the world's countries and territories.

Comprehensive Customer Support Services

The company is committed to the success of its customers. The company demonstrates this commitment by offering a comprehensive set of support services to help its customers get started quickly, follow best practices, and realize on-going value from its critical communications solution. The company's support services include:

Rapid Onboarding: The company leverages a proven methodology and domain expertise, honed through thousands of Critical Event Management customer on-boardings worldwide, to enable rapid use of its platform and compliance with industry best practices. The average implementation time for standard implementations for new customers purchasing the company's solutions is 6 hours.

Everbridge University: The company offers online education, training and professional development through Everbridge University, with role-based training modules that can be customized to meet a customer's needs and that can facilitate formalized knowledge transfer and ensure ongoing self-sufficiency.

Dedicated Account Management: The company assigns dedicated account managers to all customers. Account managers perform regular service reviews and post-incident analyses of customer communications to incorporate communication best practices and recommend additional applications to meet the customer's critical communications needs.

24/7 Technical Support & Emergency Live Operator Service: The company has established geographically redundant technical support centers in the Los Angeles, California; Boston, Massachusetts; and London, United Kingdom areas. From these support centers, the company offers its customers 24/7 support by phone, email or through its online support center. In addition, the company's support centers offer a 24/7 emergency live operator service to assist customers with sending critical communications.

Premium Support Services: With an understanding of the critical role that its solution plays, the company has assembled an expert professional services organization to deliver premium support service packages to its customers. The company's professional services team includes certified emergency management and critical communications practitioners. The company helps customers achieve faster time-to-value by providing on-site project management, consultation with a certified critical communications professional, creation of client-specific message and scenarios, development of ad-hoc report templates and on-site emergency and incident management reviews.

Customers

The company's customer base included more than 6,700 customers as of December 31, 2023. The company defines a customer as a contracting entity from which it generated $200 or more of revenue in the prior month, either directly or through a channel partner. As of December 31, 2023, the company's customers were based in over 87 countries and included the majority of FORTUNE 50 businesses, and many of the largest cities, airports, health systems, manufacturers, and universities around the world. The company provides its applications to customers of varying sizes, including enterprises, small businesses, non-profit organizations, educational institutions and governmental agencies. The company's customers span a wide variety of industries including technology, energy, financial services, healthcare and life sciences, manufacturing, media and entertainment, retail, higher education, and professional services. For the year ended December 31, 2023, 25% of the company's revenue was generated from public sector customers and 75% from private sector customers.

Sales and Marketing

The company's sales and marketing organizations collaborate to create brand preference, efficiently and effectively generate leads, build a strong sales pipeline and cultivate customer relationships to help drive revenue growth. The company's marketing strategy is designed to elevate and drive alignment for the Everbridge brand to improve internal culture, provide clarity on the Everbridge vision, build a better understanding of its customers' needs, and deliver consistency in execution of the core brand. The Everbridge brand is the cornerstone of how the company accelerates prospect acquisition, customer retention, and growth at scale through a productive and efficient marketing engine. Execution of the company's go-to-market strategy consists of a strong thought-leadership program, a digital marketing engine grounded in world-class customer experiences, and a diversified sales organization designed to efficiently sell across vertical markets to organizations of all sizes. The company has dedicated global sales teams focused on corporate customers, healthcare organizations and government customers, which covers the U.S. federal, state and local governmental entities.

Sales

The company sells its solutions through its business development and direct inside sales teams, a direct field sales team and a growing partner channel. The company's global sales teams focus on both new customer acquisition and up-selling and cross-selling additional and new offerings, respectively, to its existing customers. The company's sales teams are organized by tier (Elite, Premier, and Select) geography, consisting of the Americas; the Asia Pacific, Europe, the Middle East and Africa (collectively, EMEA); as well as by target organization size. The company's inside sales team focuses typically on small and middle-market transactions, while larger or more complex transactions are generally handled by its direct field sales teams. The company's highly trained sales engineers help define customer use cases, manage pilots and train channel partners.

In addition to the vertical and geographic distribution of its salesforce, the company has dedicated teams of account executives focused on net new accounts and growth of existing accounts, account managers responsible for renewal of existing accounts, and business development representatives targeting new and growth business opportunity creation. The company's sales representatives use phone, email and web meetings to interact with prospects and customers. The company intends to continue to invest in building its global sales and go-to-market organizations.

The company also sells through channel partners both domestically and internationally. To help integrate its applications with other third-party services and take advantage of current and emerging technologies, the company seeks to enter into alliances with leading technology companies.

Marketing

The company focuses on marketing efforts on elevating the strength of the Everbridge brand, communicating product advantages and business benefits, generating leads for its salesforce and channel partners, leveraging geographic market strengths and driving product adoption. The company delivers targeted content to demonstrate its thought leadership in critical communications best practices and use digital advertising methods to drive conversion of potential prospects, which convert to opportunities for its sales organization.

The company's marketing team focuses on inbound marketing through its industry-leading content, resources, and sharing customer best practices. The company uses multiple marketing tactics to engage with prospective customers including: search engines (both paid and organic), email marketing, event marketing, print and digital advertising, and webinar events. The company engages with existing customers to provide vertically-based education and awareness and to promote expanded use of its current and new software offerings within these customers. The company also hosts regional and national events to engage both customers and prospects, delivers product training and foster community.

Competition

The primary competitors for the company's Mass Notification applications include AlertMedia, BlackBerry Limited, F24 AG, OnSolve, LLC and Rave Mobile Safety. The primary competitors for the company's Risk Center application include Crisis24 Limited and Dataminr, Inc. The primary competitors for the company's Public Warning application include Celltick, Intersec and Genasys, Inc. For IT Alerting and Incident Management, the comany's primary competitor is PagerDuty, Inc. For Control Center, the company's primary competitor is Genetec. The primary competitors for the company's Travel Risk Management application include Crisis24 and International SOS.

Intellectual Property

The company has registered the EVERBRIDGE, NIXLE and VISUAL COMMAND CENTER marks in the United States and has registered the EVERBRIDGE mark in the United Kingdom and the European Union. The company has registrations and/or pending applications for additional marks in the United States and in various other countries.

The company is the registered holder of a variety of domestic and international domain names that include everbridge.com, as well as similar variations on that name.

Government Regulation

The company has and will continue to engage in efforts to ensure that data transfers from the European Economic Area comply with the GDPR and the data protection legislation of individual member states.

History

The company was founded in 2002. It was incorporated under the laws of the state of Delaware in 2008. The company was formerly known as 3n Global, Inc. and changed its name to Everbridge, Inc. in 2009.