FirstWave was founded in 2001 to address the burgeoning cloud security services market and has delivered managed SaaS security solutions since 2004.
Enterprises and government increasingly look to established IT companies like FirstWave to deliver managed IT security services to prevent major threats to their infrastructure & business.
FirstWave’s customers include some of Australia’s largest financial institutions, state & federal government, utilities, ASX listed and private companies in the mining and retail sectors.
FirstWave initially developed cloud based security platforms in partnership with Telstra Research Laboratories with the aim of moving security services from appliances at customer locations to the cloud.
This ultimately led to FirstWave successfully integrating its products into the Telstra network. This partnership now generates long term revenue for the company through the delivery of cloud security solutions for Telstra business, enterprise and government customers today.
FirstWave has a current head count of over 50 people in Australia primarily engaged in sales, marketing, cloud services delivery, product design, research and development.
OUR MARKET FirstWave operates in the burgeoning cloud security sector of the global managed security services market. Infonetics forecasts this sector to be $9.0B in 2016 growing at 12%.
The cloud security sector sits at the junction of three major overlapping markets: Cloud Services forecast by Forrester to be $110B in 2016 growing at 10% pa and Software as a Service $106B growing at 21%. Infonetics forecasts the managed security services market to be $18.7B (5% pa). The resultant cloud security sector is valued at $9.0B growing at 12% pa.
Infonetics Research forecast the global cloud security sector will exceed $11.6 billion in 2019, continuing to grow strongly at 10.1% pa. The Asia Pacific region currently accounts for over 17% of the global cloud security market.
FirstWave occupies a unique position in the security software solutions market as it provides a platform for the delivery of a range of market leading security software via the cloud, to customers of telecommunications companies. Specifically, FirstWave integrates security products from Palo Alto and Cisco into its own cloud security platform which enables delivery of white labelled cloud security services through Australia’s largest telecommunications company – Telstra. FirstWave has not encountered other providers which have a similar platform or offering in Australia.