BeyondTrust
| Company type | Private |
|---|---|
| Industry | Software, Cybersecurity |
| Predecessor | Symark, DesktopStandard, Bomgar |
| Founded | 2006 |
| Headquarters | Los Angeles County, California , United States |
Area served | Worldwide |
| Products | Privileged identity and access management (PIM/PAM), secure remote privileged access, vulnerability management software |
| Website | beyondtrust |
Overview
BeyondTrust (originally known as Symark) is a U.S.-based software firm specializing in the development, marketing, and support of solutions for privileged identity and access management (PIM/PAM), secure remote privileged access, and vulnerability management. Their products are compatible with UNIX, Linux, Windows, and macOS platforms.
Established in 2006, BeyondTrust initially focused on delivering Least Privilege Management software tailored for Microsoft Windows environments. In 2009, the UNIX-focused company Symark acquired BeyondTrust.[1][2] Subsequently, in 2018, BeyondTrust was purchased by Bomgar, a company known for remote support and privileged access management software.[3] Following both acquisitions, the unified entity adopted the BeyondTrust name as its corporate identity.[4][5]
Symark
Established in 1985, Symark began as a utility software provider for VAX/VMS systems, operating out of the San Fernando Valley in Los Angeles. The company’s name originates from the initials of its founders, Bob Sommers and Doug Yarrow. Initially a vendor specializing in client-server computing, Symark later secured a licensing agreement for the UNIX security solution UPM (currently under Quest Software ownership) and subsequently rebranded this product as PowerBroker. The firm relocated twice within California, first to Westlake Village and later to Agoura Hills.
Symark concentrated on managing identity, access, and passwords for privileged accounts on UNIX platforms. Between 2003 and 2008, the company expanded its presence into markets including Spain, Portugal, Japan, and Latin America. During this period, Symark experienced nearly 300% growth, ranking among the fastest-growing private enterprises in the Los Angeles region.
The original BeyondTrust
In 2003, AutoProf launched the AutoProf Policy Maker, recognized as the first commercial tool designed to enhance Microsoft’s native Group Policy Objects by simplifying tasks such as network drive mapping and printer sharing. The following year, AutoProf’s revenue surged by 90% compared to the prior year. In 2005, the company rebranded itself as DesktopStandard. At that time, DesktopStandard’s software managed approximately four million desktops across a customer base of 3,500. Between 2003 and 2005, DesktopStandard expanded its product line by introducing six new solutions focused on role-based access control (RBAC), password management, and identity access management tailored for Windows environments. In 2006, Microsoft acquired the majority of DesktopStandard’s product portfolio. Subsequently, DesktopStandard’s CEO established a new entity named BeyondTrust to continue developing the remaining Policy Maker Application Security product.
Acquisitions
2009: In 2009, Symark purchased the Windows-based segment of BeyondTrust for around $20 million and subsequently rebranded the entire company under the BeyondTrust name.
2011: BeyondTrust expanded its portfolio by acquiring software assets from Likewise Software.
May 2012: The company further strengthened its position by acquiring eEye Digital Security, a leader in vulnerability management.
December 2012: BeyondTrust continued its growth through the acquisition of Blackbird Group, enhancing its enterprise security capabilities.
September 2014: Veritas Capital invested $310 million to take ownership of BeyondTrust.
October 2018: Bomgar completed the acquisition of BeyondTrust from Veritas and later adopted the BeyondTrust name following this transaction.
Bomgar
Bomgar was a provider of remote support solutions enabling technicians to establish remote connections with end-user devices across firewalls using their computers or mobile gadgets. Through the Bomgar Representative Console, IT support personnel gained the ability to remotely access and manage various systems and devices such as desktops, smartphones, tablets, servers, network switches, point-of-sale terminals, among others.
The company’s inception traces back to Joel Bomgaars, who created his own remote support tools to reduce the time lost traveling while working as a support technician at a local firm. In June 2003, he launched a simple one-page website marketing his self-developed remote access software under the name ExpertVNC. Shortly after, two college acquaintances, Nathan McNeill and Patrick Norman, joined him as co-founders.
By May 2004, ExpertVNC rebranded to NetworkStreaming. The following month marked a shift from a cloud-based model to an appliance-based product, setting it apart from other remote support offerings available at the time.
In February 2007, NetworkStreaming adopted the name Bomgar, a streamlined version of Joel Bomgaars’ surname, which he also used professionally.
TA Associates became Bomgar’s initial private equity investor by acquiring a majority stake in May 2014.
In April 2018, Francisco Partners announced its acquisition of Bomgar from Thoma Bravo, which had owned the company since June 2016. The financial terms of this transaction were not made public.
Currently, Bomgar operates under the brand name BeyondTrust.
Treasury Department cybersecurity breach
On December 30, 2024, reports emerged linking BeyondTrust to a cyberattack targeting the U.S. Department of the Treasury, allegedly carried out by Chinese state-sponsored hackers.[6] The incident involved the theft of an API key linked to BeyondTrust’s remote support SaaS platform, which was then exploited to infiltrate Treasury workstations and access unclassified documents. This event was characterized as a significant breach.[7][8]
See also
- Remote desktop software
- Comparison of remote desktop software
- Virtual help desk
- Criticism of Facebook § Rewards for vulnerability reporting
References
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- ↑ "Treasury says Chinese hackers remotely accessed workstations, documents in 'major' cyber incident". Associated Press. 2024-12-30. Archived from the original on 2024-12-30. Retrieved 2024-12-31.
- ↑ "What to know about string of US hacks blamed on China". www.bbc.com. Retrieved 2025-01-03.
- ↑ Shapero, Julia (2024-12-30). "Chinese hackers breached Treasury Department, agency says". The Hill. Retrieved 2024-12-30.