Appknox Market Research Report

Overview

Appknox is a leading enterprise-grade mobile app security platform dedicated to securing the mobile ecosystem using an automated and human-in-the-loop approach to vulnerability detection and resolution. Since its inception, the platform has serviced over 300 enterprises globally, including more than 10 Fortune 500 companies. It is renowned for speed, user-friendliness, and extensive security coverage.

Founding and Leadership

Founded in 2014 in Bangalore, India, by Harshit Agarwal and Subho Halder, Appknox leverages substantial industry expertise within its leadership team. Harshit Agarwal, the CEO and Co-founder, brings entrepreneurial experience and is a Microsoft Venture Accelerator alumnus. Subho Halder, the CISO and Co-founder, possesses a robust background in cybersecurity. Their strategic direction has been pivotal in establishing Appknox as a significant player in the global mobile security market.

Products and Services

Appknox offers a comprehensive suite of security testing solutions, including:

Static Application Security Testing (SAST)

Dynamic Application Security Testing (DAST)

API Testing

Manual Penetration Testing

Additionally, the Storeknox service focuses on detecting rogue apps, phishing threats, and brand misuse to bolster business security. Appknox strongly advocates for integrating security best practices within the software development lifecycle through the DevSecOps framework, ensuring proactive vulnerability management across business operations.

Financial Insights

Appknox has successfully raised a total of $750K during several funding rounds, with the most recent concluded on August 16, 2016. The company has maintained a revenue growth trajectory, achieving $4M in revenue in 2024 and a valuation exceeding $4.3M. It benefits from investment by notable firms such as Upekkha, Accel, and Jungle Ventures.

Reputation and Market Position

Appknox enjoys a prominent position in mobile application security with a 4.5-star rating on Gartner Peer Insights, based on 60 reviews. Acknowledged by industry leaders such as Gartner and G2, Appknox is acclaimed as a profitable B2B SaaS startup based in Singapore. Its strategic approach ensures high customer retention and sustainable growth without extensive reliance on external funding.

Customer Engagement

Appknox emphasizes customer-centric solutions, providing significant value for all stakeholders, including customers, employees, and investors. The platform is trusted by a wide range of clients across sectors, notably in banking and financial services, for securing mobile apps and safeguarding sensitive data.

Competitor Profiling: Mobile Application Security Sector

Appknox operates amidst significant competition in the mobile application security industry, which includes a diverse array of solutions catering to various business sizes.

Key Competitors

GitLab: Known for its strong appeal in small business markets, GitLab scores 8.6/10. It enhances software innovation through an integrated DevSecOps platform, improving development, security, and operations synchronization.

Veracode: Targeted primarily at medium-sized companies, Veracode scores 9.0/10. It employs advanced AI-driven solutions to identify and rectify software vulnerabilities effectively.

Checkmarx: With the highest score of 9.1/10, Checkmarx provides comprehensive application security solutions for enterprise-level clients, from code inception to cloud deployment.

Additional Considerable Alternatives

Synopsys and Checkmarx: Both are leading competitors in Static Application Security Testing (SAST) and broader security coverage realms.

Rencore Code (SPCAF) and Trend Vision One: They offer formidable code quality and security solutions and support hybrid IT environments with a unified threat defense mechanism.

Customer and Industry Insights

Appknox maintains a 4.8-star rating on Gartner Peer Insights, outperforming competitors like Sonatype at 4.5 stars.

Veracode secures a customer recommendation rate of 97%, attesting to its robust application security solutions.

Checkmarx is trusted by over 1,800 customers, including Fortune 100 companies, for its integrated security workflows.

Competitive Financial Insights

GitLab has reported a 156% rise in earnings growth, reflecting its financial robustness and efficiency in advancing developer productivity through its DevOps integrations.

Veracode serves over 2400+ global customers, emphasizing AI-powered application security, positioning as a prominent competitor with dedicated risk management services.

In conclusion, the competitive landscape for Appknox poses challenges from key players like Checkmarx, Veracode, and GitLab. By capitalizing on its specialized strengths and continually innovating, Appknox can maintain and expand its market presence in the mobile application security domain.