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Total Economic Impact (TEI) study reveals that customers also achieved a 90% reduction rate in likelihood of major security breach

BOSTON, June 23, 2022 (GLOBE NEWSWIRE) — Rapid7, Inc. (NASDAQ: RPD), a leading provider of security analytics and automation, today announced findings from a new commissioned study conducted by Forrester Consulting on behalf of Rapid7 quantifying the Total Economic Impact™ (TEI) and benefits of the company’s managed detection and response (MDR) services. Through comprehensive customer interviews and financial analysis, Forrester found that Rapid7’s MDR service provided a 549 percent return on investment over three years for a composite organization.

As the threat landscape becomes increasingly fragmented and complex, security operations teams require the right tools, resources, and processes to effectively secure their environments. According to the study, “Rapid7 MDR services extend a security team’s ability to detect, triage, investigate, and actively respond to threats through 24/7/365 monitoring and security operations designed to stop cyber threats.”

“Threats are growing, but security teams are not, and the problems these teams need to solve cannot be addressed by technology alone,” said Jeremiah Dewey, vice president of managed services at Rapid7. “Customers need true partnership, and that is at the center of our MDR mission. We believe this study further validates the value of partnering with Rapid7 and shows the immense benefit of investing in a world-class service to supplement the technology”.

“With Rapid7 MDR, there is peace of mind in knowing that we have completion of response and [knowing] there is an expert helping us with incident response,” said a director of information security at a financial service firm interviewed for the study. “I’d say we’re 100% more prepared to handle a security incident with Rapid7 MDR.”

Key Findings
The key findings of the Forrester TEI study on Rapid7 MDR include:

  • 90% reduction in the likelihood of a major security breach: By implementing Rapid7 MDR with 24/7 coverage, the composite organization gained greater efficiency to detect, investigate, respond, and remediate, lowering the likelihood of successful data breaches, and decreasing the impact of cyberattacks. This resulted in $1.6 million (PV) in savings over three years.
  • Significant time savings and efficiency gains: By leveraging Rapid7 MDR, on average, security team members gained efficiencies and reduced analyst time spent across alert investigation by 87.5%, response actions by 97.5%, and report creation by 83.3%.
  • Avoided additional staff hiring for the security analyst team: By eliminating the need to provide 24/7/365 security coverage in-house, the composite organization avoided the cost of growing with additional security FTEs, resulting in $1.5 million (PV) in savings over three years.
  • Greater visibility into threats across the modern environment with XDR coverage: Customers noted they were able to finally have full visibility into the security activity on all devices across their enterprise with Rapid7’s technology, allowing them to improve their overall security posture.

“The Total Economic Impact™ of Rapid7 Managed Detection and Response” is available for download here.

About Rapid7
Rapid7 (Nasdaq: RPD) is advancing security with visibility, analytics, and automation delivered through our Insight cloud. Our solutions simplify the complex, allowing security teams to work more effectively with IT and development to reduce vulnerabilities, monitor for malicious behavior, investigate and shut down attacks, and automate routine tasks. Over 10,000 customers rely on Rapid7 technology, services, and research to improve security outcomes and securely advance their organizations. For more information, visit our website, check out our blog, or follow us on LinkedIn or Twitter.

Contacts
Rapid7 Investor Relations:
Sunil Shah
Vice President, Investor Relations
+1-857-990-4074
[email protected] 

Rapid7 Media Relations:
Caitlin O’Connor
Corporate Communications
[email protected] 

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