- BeyondTrust achieved greater than 25% ARR growth and more than 80% subscription ARR growth YoY
- Company continued innovation leadership by introducing new and enhanced identity, endpoint, and cloud security solutions
Atlanta, GA – Feb 23, 2022 - BeyondTrust, the leader in Intelligent Identity and Access Security, today announced record recurring growth and continued innovation in 2021 through expansion of its cloud portfolio, new customer acquisition, and exceptional customer satisfaction and retention.
Key 2021 highlights included:
- Accelerating recurring revenue to more than 70% of total revenue, with more than 25% YoY ARR growth, and greater than 80% YoY subscription ARR growth
- Delivered profitable growth with Adjusted EBITDA (GAAP) in excess of 25%
- Driving record new business, adding more than 1,600 new logos
- Expanding BeyondTrust solutions through new products and add-ons with 4,200 current customers
- Achieving gross retention of over 95% and net retention over 110%, along with an industry-leading Net Promoter Score (NPS) of 54 and Customer Satisfaction (CSAT) score of more than 94%
- Securing a new strategic investment from Clearlake Capital, joining existing investor Francisco Partners
In 2021, BeyondTrust’s significant revenue achievements and momentum were recognized by its inclusion in:
BeyondTrust was also recognized for its product and market leadership by leading analysts and media organizations:
The company also continued its innovation leadership in 2021, introducing new cloud solutions and advanced capabilities across its portfolio:
- Cloud Privilege Broker - New solution secures entitlements and permissions across multi-cloud environments, enabling organizations to simplify and automate the management of identities and assets across the entire cloud footprint.
- Password Safe – Expanded feature set supports more platforms and streamlines management of privileged credentials, enabling IT operations and security teams to intuitively manage privileged credentials through automation across the security mesh and identity fabric.
- Privilege Management for Windows and Mac – New integrations with ServiceNow, VirusTotal, and MFA streamline workflows and enhance security, and the new Advanced Parent Tracking feature protects against malware that evades detection through Windows parent and child process hierarchies.
- DevOps Secrets Safe – Enhances just-in-time access for cloud infrastructure by enabling accounts to be automatically removed when a ‘time-to-live’ duration is reached, and enables a new integration with Robotic Process Automation (RPA) provider Blue Prism for secure storage and management of RPA secrets.
- Privileged Remote Access – New features speed vendor onboarding, enable Raspberry Pi access, and extend RDP capabilities, enabling simplified processes for exerting granular control over remote access without a VPN.
- Remote Support – Supports new platform integrations, including Microsoft Teams, Raspberry Pi OS and Zebra, and new enhancements enable integration directly with Azure Domain services for discovery and rotation of credentials stored in Azure Active Directory (AD).
BeyondTrust also demonstrated its ongoing commitment to customer security and privacy, achieving several significant compliance milestones in 2021, including attaining SOC 2 compliance for all cloud products and ISO 27701 certification. Additionally, its Secure Remote Access solutions were awarded Level 1 FIPS 140-2 validation.
Throughout the year, BeyondTrust continued to grow its talented team, growing to 1200+ employees globally and promoting 300+ employees across the organization. BeyondTrust is committed to creating an exceptional employee experience, and was recognized in 2021 by a remarkable number of workplace awards, including:
“We continue to see increasing demand for BeyondTrust solutions as protecting identities and privileged access become more central to organizations’ security strategies,” said Janine Seebeck, COO, BeyondTrust. “The rise of ransomware, new cyber insurance requirements, and increased focus on digital transformation and zero trust strategies are all increasing the need for solutions that secure identities, access, and endpoints across hybrid environments.”
“We are proud to have closed out another outstanding year, and we’re continuing that momentum in 2022, by investing even more in products and innovation and growing our unrivaled team.” said Matt Dircks, CEO, BeyondTrust. “I’m proud of our incredible employees and partner network for their success, and grateful to our customers who continue to place their confidence in BeyondTrust to help them solve their biggest cybersecurity challenges.”
BeyondTrust is the worldwide leader in intelligent identity and access security, empowering organizations to protect identities, stop threats, and deliver dynamic access to empower and secure a work-from-anywhere world. Our integrated products and platform offer the industry's most advanced privileged access management (PAM) solution, enabling organizations to quickly shrink their attack surface across traditional, cloud and hybrid environments.
BeyondTrust protects all privileged identities, access, and endpoints across your IT environment from security threats, while creating a superior user experience and operational efficiencies. With a heritage of innovation and a staunch commitment to customers, BeyondTrust solutions are easy to deploy, manage, and scale as businesses evolve. We are trusted by 20,000 customers, including 75 of the Fortune 100, and a global partner network. Learn more at www.beyondtrust.com.
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Mike Bradshaw Connect Marketing for BeyondTrust P: (801) 373-7888 E: firstname.lastname@example.org