CrowdStrike has announced the opening of a new central hub in Singapore, marking a crucial milestone in its strategic operations across Asia. The new office underscores CrowdStrike's regional investments and will double the capacity of its previous facilities in Singapore. This development is a solid testament to the company's commitment to securing business operations in Singapore and the wider Asian region.
With its headquarters based in the U.S and global operational reach, CrowdStrike is one of the fastest-growing and most innovative security companies worldwide. It boasts over 23,000 clients from small businesses to leading global brands and governmental entities. They also offer the market-defining CrowdStrike Falcon platform, elite incident response services, and a renowned cyber threat intelligence team, making them one of the most trusted brands in the cybersecurity realm.
The new Singapore office will feature training facilities that customers and partners can use to share best practices on the latest cyber defense strategies. These facilities will also play an essential role in equipping cybersecurity professionals with skills to defend against adversaries targeting the region.
The expansion to the new office follows significant business success for CrowdStrike in Asia. The company's financial results for the third quarter fiscal year 2024, ending 31 October 2023, reported revenue earnings of $81 million in the Asia-Pacific area (including Japan), marking a 36% year-over-year increase compared to the third quarter fiscal year 2023, ending 31 October 2022. APAC (including Japan) contributes to 10% of CrowdStrike's total earnings.
"Asia is a hotbed for cyber-criminal activity. We saw average ransomware demands in Southeast Asia more than doubled in the last four weeks to $8.5 million compared to the four weeks prior," said Geoff Swaine, vice president, APJ for CrowdStrike. "With all of this activity, it's critical that businesses in Asia adopt modern cybersecurity solutions and a proactive approach to protect themselves to combat adversaries targeting countries like Singapore, Philippines, Indonesia, and Malaysia."
"Since we established our first office in Singapore in 2016, we have witnessed the growing demand for AI-driven and intelligence-based cybersecurity platforms," Swaine continued. "CrowdStrike has supported many businesses across various sectors and sizes shift from using outdated security solutions to modern ones that can effectively protect against cyber threats."
Asia remains a key target for cyber criminals. According to CrowdStrike's 2023 Threat Hunting Report, the top five industry sectors in Asia Pacific and Japan, in order of intrusion frequency, were technology, telecommunications, retail, financial, and manufacturing. There was also an increase in 'big game hunting' victims, cyberattacks using ransomware to target large, high-value organisations. Over the last four weeks, this increased to 416 compared to 357 in the previous four-week period.