Zscaler is disrupting the enterprise security market by delivering the functions of a traditional Internet gateway as a cloud service
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Zscaler is a direct beneficiary of more organizations moving to the cloud, a transition that disrupts the traditional perimeter defense model. The company believes that securing the on-premises corporate network is increasingly becoming irrelevant in a cloud- and mobile-first world. Simply put, the cloud effectively makes the corporate perimeter obsolete.
One of the company’s two main services is Zscaler Internet Access , which sits between users and the Internet. ZIA securely connects users to externally managed applications—including SaaS applications and all Internet destinations . With the exception of the data loss prevention offering, Zscaler sells its security solutions in three bundles, ranging from lowest to highest: Professional, Business and Transformation. The Business bundle has been a favorite, but the higher-end Transformation bundle has quickly gained traction because it includes a cloud firewall and cloud sandbox.
There were many metrics to like in Zscaler’s FQ2 earnings report, including billings of $115 million advancing 74%, acceleration from a growth of 56% in the previous quarter. Even when adjusted for a higher mix of multi-year upfront billings, total billings growth came in above 50%. Remaining performance obligations , made up of billed and unbilled backlog, rose 69% to $461 million, while deferred revenue was up 73% to $206 million.
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