Cybersecurity Ventures has named Haystax Technology to its latest Cybersecurity 500 list of “the world’s hottest and most innovative cybersecurity companies to watch in 2018.”

Haystax, which developed its award-winning Haystax user behavior analytics (UBA) platform specifically to detect and mitigate insider risk, cyber fraud, account compromise and other threats, placed 151st out of 500, in the Advanced Threat Analytics category.

What started as a quarterly compendium has for the first time in 2018 become an annual one. Haystax was on multiple Cybersecurity 500 lists in 2015, 2016 and 2017.

Last fall, Cybersecurity Ventures released its Official 2017-2018 Cybercrime Report, which notes that cybercrime will cost the world $6 trillion annually by 2021, up from $3 trillion in 2015. “This represents the greatest transfer of economic wealth in history, risks the incentives for innovation and investment, and will be more profitable than the global trade of all major illegal drugs combined,” the firm notes. In response, it says, cybersecurity spending is projected to exceed $1 trillion by 2021.

Selection criteria for 2018 included problems solved, notable implementations, feedback from CISOs and decision makers, feedback from IT security evaluators, customer base, media coverage, company growth and demos and presentations at conferences, among other factors.

Please click here for the complete list for 2018.

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NOTE TO READERS: Are you attending the Gartner Security & Risk Management Summit from June 4-7? The Haystax Technology team will be there, too. Please stop by Booth 350 for a chat about how our Haystax UBA platform can help you solve your organization’s toughest security analytics challenges.