Avecto, the leader in Windows privilege management, announced strong end of financial year results following what has been a year of great growth for the company. As one of the fastest growing players in the privilege management space, Avecto closed out the year having significantly expanded operations in North America and Europe. Plans for the upcoming financial year include a new product upgrade, building on the new regional office in Germany and robust investments in recruiting key staff to meet growing demands in North America, where 60% of the company's revenues currently derive from.
Avecto's success aligns with remarkable market forecasts within the sector at large. According to Forrester Research, privileged user management is predicted to grow more than 50% in coming years with forecasted revenues expected to exceed $330 million by 2014. This momentum is reflected in the growing size of Avecto's customer projects, including its largest-ever customer deployment completed this financial year. The deployment rolled out Avecto's award-winning Privilege Guard technology on nearly 500,000 desktops within a single organization. Adding to its customer successes, today seven of the world's ten leading financial institutions trust Privilege Guard to bolster their security posture and regain control of their Windows desktops.
The company also launched Privilege Guard 3.5 this year, adding powerful new privilege management features, extending reporting capabilities and cutting edge usability enhancements to the solution. Avecto also earned a series of industry awards as the leading solution helping organizations combat threats from today's most dangerous and persistent malware. Red Herring selected the company among its 2012 Top Europe 100 Winners and the Global Excellence Awards named Avecto Innovative Security Company of the year. Both accolades recognized Avecto's remarkable thought-leadership in educating organizations about the risks of granting administrative rights to users. Since launching in 2008, Avecto continues to fulfill its ongoing mission of enabling customers to lower operating costs and improve system security throughout their organizations.
"I'm delighted with the team's commitment to securing organizations across the globe, and their hard work and dedication has translated into strong results for us. Worldwide demand for our award-winning Privilege Guard technology is clearly evident in these results and shows no sign of abating," said Tony Bolland, Avecto CEO. "We've successfully rolled out our largest project to date and we are in discussions with new customers looking to exceed this number. The recent successful launch of Privilege Guard 3.5 continues to strengthen our market leading position in Windows privilege management. Last year was phenomenal and I truly believe it's not over and we're on the cusp of some spectacular growth in the coming year."
Growing Threats Facing Organizations
As the sophistication of privilege escalation malware continues to evolve, Windows desktops that run with full administrative rights continue to put organizations at real risk of infection. Once malware gains access to an administrative token, it gains access to the system enabling it to burrow deeper into the organization's infrastructure.
That's where Avecto's Privilege Guard technology steps up to the plate. It enables organizations to address this inherent problem using a flexible approach to privilege management. Avecto Privilege Guard enables organizations, worldwide, to deploy secure and compliant desktops, without compromising a user's ability to perform their day-to-day role. With Privilege Guard, users are empowered with the privileges they require, resulting in increase productivity and reduced desktop support costs.
"In less than three years we have built a strong and healthy, globally-recognized and award-winning organization, based on best-in-market technology for which we see demand growing daily," added Bolland. "We plan to continue our expansion across North America and Europe, and we're confident that our focus of helping organizations bolster security, reduce operational costs and achieve compliance will continue to be at the heart of our global growth."
Update: Privilege Guard is now Defendpoint
Privilege Guard has now evolved into the new security suite, Defendpoint, which encompasses Privilege Management, Application Control and Sandboxing. For more information, please visit www.avecto.com/defendpoint.