As we turn the page on 2023, it is time to celebrate the successes and fundamental transformations that our company has experienced this year, which has been a pivotal one for Olfeo in more ways than one.
We have had an unprecedented year, marked by innovations, expansions, and successes that not only reinforce our strategic choices but also confirm the excellence of our products.
With new product launches, team expansion, new customers, and a new visual identity, 2023 was marked by the strengthening of our cybersecurity offering to help our customers cope with the wave of cyberattacks.
Launch of our Olfeo SaaS offering
For nearly 20 years, Olfeo has been providing a leading on-premise web security gateway solution to secure our customers' web traffic.
A key moment in 2023 was the launch of our SaaS web security gateway in March 2023.
This innovative solution offers robust protection against online threats while being incredibly accessible and easy to deploy for our customers. The rapid and enthusiastic adoption of this product by the market reassured us of our vision.
For Olfeo, this meant rethinking our business. In record time, we had to add SaaS expertise, which involved a lot from a software perspective—multitenancy, server operations, high availability management, redundancy systems, security, performance monitoring, finops, etc. We had to build a SaaS culture, but also hire technical experts who enabled us to move forward more quickly on these issues.
With more than 40 new SaaS customers and no major incidents, we are satisfied and happy with the adoption of this new product.
More and more existing customers and new prospects have expressed interest in switching their web security gateway to SaaS. There are many reasons for this: first and foremost, simplicity. The SaaS approach allows customers to benefit from Olfeo's protection without having to deploy, operate, and maintain dedicated servers. Next is cost optimization: fewer resources are dedicated to operating the solution, both in terms of human resources and infrastructure, complemented by clear visibility on billing.
With this strong trend, 2024 will undoubtedly be a year of acceleration for our Olfeo SaaS product.
New redesign of the Olfeo Awareness product
Cybersecurity awareness is more crucial than ever. That's why, in October 2023, we launched a cyber risk awareness product designed to educate and empower users in the face of digital threats. Our interactive and engaging training program has been praised by customers for its practical approach and significant impact on reducing cyber risks.
With over 150 varied content items covering all aspects of cybersecurity, not just phishing, employees are better educated to avoid the classic traps set by cybercriminals.
Team expansion (+50%)
2023 also saw a significant expansion of our teams, growing from 40 to 60 employees. This growth was mainly due to hiring in our technical teams, strengthening our ability to innovate and meet our customers' growing cybersecurity needs.
New customers
Our growth has not only been internal; it has also been reflected in our ever-expanding customer base. This year, we welcomed a record number of new customers, demonstrating the market's growing confidence in our solutions and expertise. Our retention rate also reached a record high of 99%, illustrating the quality and durability of Olfeo products.
New visual identity and website
To kick off this incredible year, we have launched a new visual and brand identity, symbolizing our evolution and future vision. Our new brand reflects our commitment to excellence, innovation, and trust, reinforcing our position as a leader in the cybersecurity industry.
More modern, consistent, and focused on cybersecurity, the new identity is reflected across the four product lines we launched in 2023: Olfeo On-Premise and Olfeo SaaS for our web security gateway offerings, Olfeo Awareness for our cyber awareness solution, and finally Olfeo OEM, our white-label offering providing access to our URL and SaaS application databases.
We have also launched a new website with visuals and messaging that reflect our latest developments.
2023: the year of AI
If we had to define the year 2023 in two letters, it would be difficult to say anything other than AI.
Open AI, with its ChatGPT service, has paved the way for a whole range of products and services based on generative AI of unprecedented quality.
Opening the door to an infinite number of new services and use cases, ChatGPT and its counterparts have been adopted quickly and on a massive scale.
Given the scale of the phenomenon, many of our users have told us that they need to be able to control and regulate access to these services. Depending on the use case (e.g., education, research) or the sensitivity of their company's business, using tools such as ChatGPT can pose risks.
We have therefore deployed a new category covering sites and domains related to generative AI products to allow our users to authorize or deny access, or simply measure the risk of employee exposure to this type of service.
Conclusion
2023 was an exceptional year for Olfeo in many ways. It was a year in which we reshuffled the deck and stepped outside our comfort zone. We invested, we experimented, we learned, and we made a few mistakes too, but our results confirm that we made the right strategic choices and allow us to approach 2024 with confidence, motivation, and the certainty that we are heading in the right direction for healthy, profitable growth that will have a real impact for our customers and partners.
Happy New Year to everyone!
