Tufin Appoints Raymond Brancato New Chief Revenue Officer

By Benzinga6 days ago

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Announces Strong Preliminary Fourth Quarter 2020 Revenues

Final Fourth-Quarter and Full-Year 2020 Results to be Reported on February 12th, 2021

Tufin (NYSE:TUFN), a company pioneering a policy-centric approach to security and IT operations, today announced that Raymond Brancato has been appointed Chief Revenue Officer, reporting directly to CEO and co-founder Ruvi Kitov. In his new role, Mr. Brancato will be responsible for building on the company's momentum by leading Tufin's sales efforts across all products globally. Tufin's current SVP of Global Sales, Kevin Maloney, will assist with the transition through the end of March after a tenure of five and a half years, during which time revenues tripled to over $100 million.

The company also provided a selected financial update for the fourth quarter of 2020. Preliminary total revenue for the three months ended December 31, 2020 is expected to be in the range of $30.5 million to $31.1 million, exceeding the high-end of the guidance provided on November 12, 2020, which anticipated total fourth quarter revenue in the range of $24.0 million to $29.0 million.

Tufin CEO and co-founder Ruvi Kitov said, “Ray joins Tufin in this critical role at an exciting time for our company. The need for network security policy management has never been greater, and the market opportunity for the Tufin Orchestration Suite is large and growing. I'm confident that Ray's deep experience directing global sales strategy and execution in the software industry will be a strong asset as we work to scale up significantly in the coming years.“ Mr. Kitov continued, “we are very pleased to deliver revenues above expectations for the final quarter of an unprecedentedly challenging year. Our revenue in the fourth quarter continued to be driven by the accelerating trends of automation and the shift towards Zero-Trust.“

“At a time when the global pandemic has intensified and accelerated security risk at an incredible pace, Tufin offers a way for organizations to adapt quickly and stay ahead of these challenges to ensure the ...

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