Rapid7 Stock

Rapid7, Inc. (Rapid7) operates as a global cybersecurity software and services provider.

Rapid7 partners with customers across the globe representing a diverse range of industries and sizes to improve the efficacy and productivity of their security operations (‘SecOps’).

Through the company’s security operations platform, anchored on the company’s cloud security, security information and event management (‘SIEM’), advanced detection and response, and vulnerability management offerings, Rapid7 is poised to expand the capabilities of today's SecOps teams. Rapid7 extends and expands the expertise of the Security Operations Center (‘SOC’) across information security, cloud operations, development, and IT teams, enabling them to better understand the attacker and leverage that information to take control of their fragmented attack surface. Enriched by years of managed services expertise, the company’s integrated security operations platform enables SecOps teams to move away from a reactive approach, reduce their attack surface, and enhance response efficiency with a deep contextual understanding of their environment.

As the company has shifted its strategic focus to SecOps consolidation, the company is focused on continuing to drive innovation across the company’s core products and capabilities to accelerate customer value and provide a frictionless and integrated cloud security experience.

As of December 31, 2023, the company had more than 11,500 customers that rely on Rapid7 technology, services, and research to improve security outcomes and securely advance their organizations.

Platform

The company’s extended SOC platform provides a high level of scalability and combines integrated technology, managed services, threat intelligence, and threat-aware risk context, enabling the company to anticipate, detect, and promptly respond to threats once identified. The platform was built using the company’s extensive experience in collecting and analyzing data from diverse sources, including multi-cloud platforms, applications, endpoints and networks, to enable the company’s customers to create and manage analytics-driven cybersecurity risk management programs. By utilizing the company’s powerful proprietary analytics to assess and understand the context and relationships related to users, IT assets and cyber threats within a customer’s environment, the company’s solutions make it easier for teams to identify and remediate vulnerabilities, monitor for misconfigurations and malicious behavior, investigate and shutdown attacks, and automate operations.

Endpoint to Cloud Data Collection and Sharing

In response to the company’s customers’ expanding digital footprints, the company has invested in its capacity to gather, standardize, enrich, and correlate diverse telemetry within the company’s platform. The company’s cloud architecture utilizes a combination of native collection technologies and application programming interfaces, and third-party event sources, to scale in alignment with the digital transformation occurring within the company’s customers’ organizations.

Rapid7 Insight Agent: The company’s universal endpoint agent, the Insight Agent, is a lightweight, software-based agent which can be installed on assets across on-premises and cloud environments to centralize and monitor data on the company’s platform. This single agent enables a number of impactful use cases across the platform, including next-gen antivirus (‘NGAV’), vulnerability scanning, endpoint detections, investigation and forensic search capabilities, and threat containment.

Rapid7 Insight Network Sensor: The company’s lightweight Insight Network Sensor passively analyzes raw end-to-end network traffic to increase visibility into user activity, pinpoint real threats, and accelerate investigations with granular detail of attacker movement.

Rapid7 Cloud Event Data Harvesting: Given the scale, complexity, and rapid evolution of modern dynamic cloud environments, real-time detection of risks and threats is paramount. The company’s event-driven harvesting offers visibility into changes made to vital cloud resources.

Third-Party Integrations and Ecosystem: The company has integrations for hundreds of different technologies and solutions to deliver visibility across a customer’s attack surface customized to their unique ecosystem.

Orchestration and Automation: The connective tissue of the company’s platform is its ability to orchestrate workflows across both the company’s solutions and the customers’ wider security ecosystem. This connectivity enables the company’s customers to focus on security outcomes, rather than systems integrations, and accelerates both tasks associated with the normal course of business, as well as time-sensitive containment and remediation activities to minimize exposure and eliminate threats.

Offerings

The company’s consolidation offerings combine its compelling platform technology and lean into vendor consolidation, as well as the prioritization of security budgets around critical spending areas.

Rapid7 Managed Threat Complete (‘MTC’) is the company’s flagship offering and unifies the leading detection and response of Rapid7 Managed Detection and Response (‘MDR’) and the robust exposure management of Rapid7 Managed Vulnerability Management (‘MVM’) to manage customers’ most imminent risks, pinpoint and eliminate threats as early as possible, and build resiliency for their future. In addition to the company’s MDR solution, customers purchasing MTC receive unlimited vulnerability management to minimize the potential of an attack and unlimited incident response which leverages the company’s deep forensics capabilities. Customers are also able to add NGAV which delivers high-fidelity prevention against both known static threats and suspicious behavior before they execute, or Managed Digital Risk Protection (‘MDRP’), which searches for potential threats from stolen or leaked data and phishing attempts.

MDR delivers end-to-end threat detection and response, encompassing 24x7 monitoring to incident containment to breach response.

MVM offloads day-to-day VM operations to experts and extends coverage across the attack surface.

Rapid7 Threat Complete unifies Rapid7 InsightIDR (‘InsightIDR’) and Rapid7 InsightVM (‘InsightVM’) to provide complete risk and threat coverage in a single offering. Using a shared agent, customers receive clarity and higher-efficacy detection coverage around priority vulnerabilities, enabling them to eliminate risks and threats faster across their environments.

InsightIDR is a next-generation SIEM and extended detection and response (‘XDR’) solution that delivers highly efficient, accelerated detection and response.

InsightVM is a vulnerability management solution that provides visibility across on-premise and remote endpoints, enabling security teams to evaluate the business risk of vulnerabilities and configurations and share with their IT counterparts for remediation.

Rapid7 Cloud Risk Complete (‘CRC’) combines the power of Rapid7 InsightCloudSec (‘InsightCloudSec’), InsightVM, and for CRC advanced customers, Rapid7 InsightAppSec (‘InsightAppSec’) to manage risk across hybrid environments. The company’s ‘Executive Risk View’ dashboard provides extensive visibility, enabling users to clearly understand, communicate, and prioritize risk. With a single subscription, organizations can secure hybrid environments from development to production; detect and address risk across endpoints, cloud workloads, and traditional infrastructure; and perform dynamic application security testing to remediate application risk.

InsightCloudSec is a cloud risk and compliance management solution that provides cloud native application protection platform capabilities and enables organizations to securely accelerate cloud adoption with continuous security and compliance throughout the entire software development lifecycle.

InsightAppSec is a dynamic application security testing tool, delivered via the cloud, that combines powerful application crawling and attack capabilities, flexibility in scan and scheduling, and accuracy in results with a modern user interface, intuitive workflows, and sensible data organization.

In addition to the company’s consolidation offerings, the company individually offer each of the company’s platform solutions, including InsightIDR, InsightCloudSec, InsightIVM, InsightsAppSec, InsightConnect and Rapid7 Threat Command. The company’s platform products are available globally and reduce the need for customers to manage a large, complex, data infrastructure.

To complement the company’s products, the company offer a range of standalone managed services, including MDR, MVM, MDRP and Rapid7 Managed Application Security, based on the company’s software solutions, and professional services, including penetration testing services, incident response services, security advisory services, and deployment and training. The company’s managed services are delivered out of the company’s SOC’s located in the U.S., Ireland, Australia and the Czech Republic. Each of these SOC’s consist of security analysts, threat engineers, incident responders and customer advisors that provide full-lifecycle support for the company’s global managed services customers.

Growth Strategy

The main drivers of the company’s growth strategy include continued investments in product development; expanding strategic partnerships; growing the company’s customer base; upselling and cross-selling to the company’s existing customer base; further strengthening the company’s customer renewal rate; leveraging MSSP expertise to further expand the company’s customer outreach; maintaining a global channel partner network that complements the company’s sales organization, particularly in Europe, the Middle East and Africa (‘EMEA’); and the Asia Pacific (‘APAC’); continuing to make acquisitions that enhance the value of the company’s Insight Platform and bolster the company’s ability to solve emerging customer challenges; and continuing to make investments to expand the company’s international presence. These include investments in infrastructure, sales and marketing, and strategic partnerships.

Research & Development

Rapid7 Labs: Open Source Community

The company’s industry-leading attack experts analyze vulnerabilities, misconfigurations, and threat data to offer proactive guidance for organizations’ security programs. Leveraging threat intelligence from the company’s free and open-source projects, the company continuously enhances its products and services to improve the customer experience.

Metasploit: The company’s Metasploit framework has an active community of contributors and users, including security researchers who contribute modules to the Metasploit Framework that serve as a resource about real-world attacker techniques. The Metasploit community also provides the company with visibility into new cyber attacks as they occur and a deeper understanding of attacker behaviors.

Project Lorelei: Project Lorelei began in 2014 to understand what attackers, researchers, and organizations are doing in, across, and against cloud environments and gain deeper insights into the tactics, techniques, and procedures employed by both bots and human attackers.

Project Sonar: The company conducts internet-wide scans across many services and protocols to gain insight into global exposures and vulnerabilities and collect data for platform analytics and preparation of core research reports.

Velociraptor Open Source Digital Forensic and Incident Response (‘DFIR’): Velociraptor is an open-source endpoint monitoring, digital forensic and cyber response platform. It was developed by DFIR professionals as an efficient way to hunt for specific artifacts and monitor activities across fleets of endpoints.

Threat Intelligence and Detections Engineering

Rapid7’s threat content library leverages unique raw threat from the company’s open source communities, as well as expertly vetted third party intelligence, and insights from across the company’s platform, to provide customers with a curated repository of detections and emergent threat coverage. With a combination of proprietary AI-driven detections and indicators of compromise mapped to the MITRE framework, the company’s detection content spans both known and unknown threats across the threat life cycle. When analyzed against the diverse telemetry data, this content enables the company to pinpoint threats across endpoints, network, users, cloud, and customers’ wider ecosystem. This library is leveraged by the company’s Rapid7 MDR services, as well as within the company’s InsightIDR technology, meaning alerts are vetted in the field by the company’s security experts, offering a feedback loop and ensuring strong signal-to-noise alerting.

Professional Services

The company’s professional services offerings include, but are not limited to, Penetration Testing, Cybersecurity Maturity Assessments, Security & Incident Response Program Development Services, Internet of Things & Internet Embedded Device testing as well as Threat Modeling, TableTop Exercises and Incident Response services. In addition, the company offers deployment and training services related to the company’s platform, to further help customers operationalize and customize their platform experience. By accessing the company’s security talent, the company helps organizations develop an approach and road map to further mature and strengthen their security programs.

Customers

The company’s customer base was 11,500 customers as of December 31, 2023, in 151 countries, including 40% of the organizations in the Fortune 100. The company defines a customer as any entity that has an active Rapid7 recurring revenue contract as of the specified measurement date, excluding only InsightOps and Logentries customers with a contract value less than $2,400 per year.

The company’s customers span a wide variety of industries including manufacturing, financial services, healthcare and life sciences, retail, technology, government, media and entertainment, energy, education, transportation, real estate, and other professional services, with customers in the manufacturing industry representing the company’s largest industry in 2023 at 15% of the company’s revenue. In 2023, 45% of the company’s revenue was generated from enterprises, which the company defines as organizations that have either annual revenue greater than $1.0 billion or more than 2,500 employees, and the balance was generated from middle-market and small organizations.

Intellectual Property

The company has over two hundred issued patents and a number of registered and unregistered trademarks. The standard length of the company’s patents is 20 years and while the grant dates of the company’s patents vary, the duration of the company’s issued patents is sufficient when considering the expected lives of the company’s products. The company files patent applications to protect its intellectual property and has a number of patent applications pending.

The company also licenses software from third parties for integration into the company’s offerings, including open source software and other software available on commercially reasonable terms.

History

Rapid7, Inc. was founded in 2000. The company was incorporated in 2000 in Delaware.