Cellebrite Launches FedRAMP Authorization Process to Provide Federal Customers with Enhanced Cloud Security
TYSONS CORNER, Va. and PETAH TIKVA, Israel, March 07, 2024 (GLOBE NEWSWIRE) -- Cellebrite DI Ltd. (NASDAQ:CLBT), a global leader in Digital Investigative solutions for the public and private sectors, today announced the launch of the process to authorize its software-as-a-service offerings with the Federal Risk and Authorization Management Program (FedRAMP®). The authorization will enable Cellebrite's federal customers to leverage their use of the Company's SaaS solutions, support faster and more cost-effective procurement processes, eliminate duplicative assessment efforts and ensure consistent application of information security standards. FedRAMP authorization ensures a standardized approach to security assessment, authorization and continuous monitoring for cloud products and services.
As part of this process, Cellebrite selected cybersecurity services pioneer Coalfire to support the activities required to complete this process, which is planned to be completed within the next twelve months. More than 70% of FedRAMP-authorized providers turn to Coalfire for their assessment and advisory needs. Coalfire has earned a reputation for bringing cloud service providers, including the world's largest clouds, to audit-ready status in record time.
Operating in one of the highest-regulated industries globally, Cellebrite's collaboration with Coalfire will build on Cellebrite's industry-leading security practices and helps ensure its SaaS solutions will be held to the highest standard of security and data compliance. The Company chose Coalfire for its track record in guiding customers through every phase of the FedRAMP journey and its deep cloud engineering expertise, with 100% of its submitted builds passing FedRAMP 3PAO (Third Party Assessment Organization) audit to date.
"Cellebrite's solutions currently support an extensive range of U.S. Federal agencies. Investing in FedRAMP authorization demonstrates our commitment to ensuring that our customers can augment their current investment in Cellebrite technology by harnessing the power of the cloud through high-value, SaaS-based offerings with the highest levels of security and reliability," said Ronnen Armon, Chief Products and Technologies Officer, Cellebrite. "We are proud to be working with Coalfire, widely recognized as the most trusted FedRAMP leader. The Federal Risk and Authorization Management Program sets the standard for security. With Coalfire, we are well-positioned to bring SaaS to our customers with assured strength, resilience, and compliance."
"We're excited Cellebrite selected us as their trusted partner for navigating FedRAMP compliance," said Karen Laughton, EVP of Compliance Advisory, Coalfire. "My team brings a blend of seasoned experience and engineering ingenuity to tackle a wide array of challenges along the FedRAMP journey. We love helping our customers accelerate the path to new markets."
Cellebrite's SaaS-based solutions include Guardian, a secure, scalable offering for evidence sharing, review and management that delivers greater operational efficiencies, supports better collaboration between examiners and investigators, helps advance cases involving digital evidence and strengthens the overall chain of custody. Our end-to-end platform helps investigative teams in both public and private sectors close cases faster, smarter and more defensibly than ever before.
About Cellebrite
Cellebrite's (NASDAQ:CLBT) mission is to enable its customers to protect and save lives, accelerate justice and preserve privacy in communities around the world. We are a global leader in Digital Investigative solutions for the public and private sectors, empowering organizations in mastering the complexities of legally sanctioned digital investigations by streamlining intelligence processes. Trusted by thousands of leading agencies and companies worldwide, Cellebrite's Digital Investigative platform and solutions transform how customers collect, review, analyze and manage data in legally sanctioned investigations. To learn more visit us at www.cellebrite.com, https://investors.cellebrite.com, or follow us on X at @Cellebrite.
About Coalfire
Coalfire, headquartered in Denver, Colorado, is a global leader in cybersecurity services and solutions. The company offers cutting-edge offensive security, advisory, and compliance services, as well as develops technology platforms that automate defenses against security threats for the world's leading enterprises, cloud providers, and SaaS companies. Coalfire is the foremost provider of FedRAMP assessments and penetration testing services in the United States.
For more information, please visit Coalfire.com.
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Such forward-looking statements include, but are not limited to, the following: estimated financial information for fiscal year 2023 and certain statements related to moving into the final quarter of the year with a compelling value proposition, attractive prospects to grow our wallet share with customers, and an increasingly efficient cost structure that supports ongoing profit improvement; our expectations for a strong, productive finish to 2023; revenue trending toward the upper half of our prior full-year 2023 expectations; and our belief that our continued progress in executing against our strategic priorities over the coming months will enable us to sustain our momentum into next year. Such forward-looking statements including those with respect to 2023 revenue, annual recurring revenue (ARR), adjusted EBITDA, operating profitability and earnings as well as commentary associated with future performance, strategies, prospects, and other aspects of Cellebrite's business are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to: Cellebrite's ability to keep pace with technological advances and evolving industry standards; Cellebrite's material dependence on the purchase, acceptance and use of its solutions by law enforcement and government agencies; real or perceived errors, failures, defects or bugs in Cellebrite's DI solutions; Cellebrite's failure to maintain the productivity of sales and marketing personnel, including relating to hiring, integrating and retaining personnel; intense competition in all of Cellebrite's markets; the inadvertent or deliberate misuse of Cellebrite's solutions; failure to manage its growth effectively; Cellebrite's ability to introduce new solutions and add-ons; its dependency on its customers renewing their subscriptions; the low volume of business Cellebrite conducts via e-commerce; risks associated with the use of artificial intelligence; the risk of requiring additional capital to support the growth of its business; risks associated with higher costs or unavailability of materials used to create its hardware product components; fluctuations in foreign currency exchange rates; lengthy sales cycle for some of Cellebrite's solutions; near term declines in new or renewed agreements; risks associated with inability to retain qualified personnel and senior management; the security of Cellebrite's operations and the integrity of its software solutions; risks associated with the negative publicity related to Cellebrite's business and use of its products; risks related to Cellebrite's intellectual property; the regulatory constraints to which Cellebrite is subject; risks associated with Cellebrite's operations in Israel, including the ongoing Israel-Hamas war and the risk of a greater regional conflict; risks associated with different corporate governance requirements applicable to Israeli companies and risks associated with being a foreign private issuer and an emerging growth company; market volatility in the price of Cellebrite's shares; changing tax laws and regulations; risks associated with joint, ventures, partnerships and strategic initiatives; risks associated with Cellebrite's significant international operations; risks associated with Cellebrite's failure to comply with anti-corruption, trade compliance, anti-money-laundering and economic sanctions laws and regulations; risks relating to the adequacy of Cellebrite's existing systems, processes, policies, procedures, internal controls and personnel for Cellebrite's current and future operations and reporting needs; and other factors, risks and uncertainties set forth in the section titled "Risk Factors" in Cellebrite's annual report on Form 20-F filed with the SEC on April 27, 2023 and in other documents filed by Cellebrite with the U.S. Securities and Exchange Commission ("SEC"), which are available free of charge at www.sec.gov. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, in this communication or elsewhere. Cellebrite undertakes no obligation to update its forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.
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