Varonis Systems, Inc. (NASDAQ: VRNS) is a data security platform that provides automated discovery, classification, access governance, and threat detection for sensitive data across SaaS applications, cloud infrastructure, and on-premises file systems. The company has been in data security since before DSPM existed as a category, giving it the deepest coverage of both legacy and modern data stores.
How It Works
The platform automatically scans and classifies sensitive data including PII, PHI, PCI, credentials, and intellectual property across Microsoft 365, Google Workspace, Salesforce, Box, AWS, Azure, and on-premises file servers and databases.
For access governance, Varonis maps who has access to what data, identifies excessive permissions, and automates least-privilege remediation. The platform visualizes effective permissions across complex inheritance hierarchies and recommends access right-sizing.
Threat detection through DatAlert uses behavioral analytics to spot data-centric attacks like abnormal file access, mass downloads, privilege escalation, ransomware encryption patterns, and insider threat indicators. Detections are based on user behavior baselines rather than static rules.
The ML-powered classification engine goes beyond regex patterns to understand context, classifying data by sensitivity and regulatory applicability. Classification labels persist with the data for downstream DLP enforcement. An automation engine handles remediation tasks like removing stale permissions, fixing open shares, enforcing retention policies, and quarantining exposed sensitive data.
SaaS Transition
Varonis has aggressively transitioned to SaaS delivery, with SaaS ARR growing significantly. The SaaS platform provides the same capabilities as on-premises but with simplified deployment and continuous updates.
Financial Performance
FY2024 revenue reached $551 million, with ARR at $642 million representing 18% year-over-year growth. SaaS ARR hit $209 million, now 53% of total ARR compared to just $44 million in 2023. The company serves over 8,000 customers globally.
Market Position
Varonis leads the Forrester Wave for Data Security Platforms and is recognized as a top DSPM vendor. The company’s competitive advantage is the depth of its data access intelligence. No other vendor maps the relationship between users, groups, permissions, and sensitive data at the same granularity.
Leadership
Yaki Faitelson is Co-Founder and CEO. Guy Melamed serves as CFO and COO.