Haystax Technology, a leading user behavior analytics (UBA) platform provider, has been selected as one of Red Herring’s 2017 Top 100 Global companies. This prominent award recognizes the most innovative and potentially game-changing private technology startups and entrepreneurs throughout Asia, Europe and North America and across a wide range of industries.

Since 1996, technology industry executives, investors, and strategists have valued the Red Herring Top 100 lists for their ability to spot the most promising private ventures from around the world. Red Herring 100 Awards are widely seen as one of the industry’s more prestigious recognitions, with hundreds of candidates from each continent competing for the top 100. Red Herring’s editors were among the first to recognize that companies such as Facebook, Twitter, Google, Yahoo, Skype, Salesforce.com, YouTube, and eBay would change the way individuals live and work.

“We’re honored to be recognized with a prestigious award like the Red Herring Top 100 Global,” said Haystax Technology CEO Bryan Ware. “This is yet another validation of our pioneering model-first approach and how our Haystax Analytics Platform™ delivers actionable insights about the complex risks and uncertainty that organizations face every day. The security and user behavior analytics space has become crowded with systems that don’t work, and it’s great to have Red Herring recognize the effectiveness of our approach for difficult challenges like insider threat mitigation.”

Red Herring uses both quantitative and qualitative evaluation criteria, such as financial performance, technology innovation, management quality, strategy and market penetration. This assessment of potential, the company says, is “complemented by a review of the track records and standing of startups relative to their peers, allowing Red Herring to see past the ‘buzz’ and make the list a valuable instrument of discovery and advocacy for the most promising new business models from around the world.”

“Choosing the companies with the strongest potential was by no means a small feat,” said Alex Vieux, publisher and CEO of Red Herring. “After rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across the globe to the Top 100 Winners. We believe Haystax Technology embodies the vision, drive and innovation that define a successful entrepreneurial venture. Haystax should be proud of its accomplishment.”

The 2017 Red Herring Top 100 Global award comes one month after Haystax was named a 2017 SINET 16 Innovator as one of the 16 most innovative and compelling companies in cybersecurity.