WatchGuard Technologies has reported record quarterly billings driven by its new Cloud-ready security visibility tool.

The company grew net billings worldwide by 23 per cent last year's final quarter, compared to the previous year, following the October launch of WatchGuard Dimension, which comes standard on the flagship Unified Threat Management platform.

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The company achieved a 41 percent increase in high-end platform sales as the UTM continued to penetrate into the larger enterprise space.

In addition, new business in the last quarter of 2013 grew 30 percent compared to the previous year. Scott Robertson, vice president of the Asia Pacific region for WatchGuard Technologies attributed strong regional growth to the strength of the UTM value proposition.

"At a time like this, enterprise customers seek three key benefits from their IT investments -- to increase revenue, reduce costs and mitigate risk - and with WatchGuard UTM we can help IT departments deliver on all these objectives," he said.