BeyondTrust extends market leadership position through record growth in new and existing customer implementations of privileged access management solutions.
PHOENIX, February 8, 2017 – BeyondTrust, the leading cyber security company dedicated to preventing privilege misuse and stopping unauthorized access, today announced extremely strong 2016 results, with a significant revenue increase, hundreds of new customers, strong profit margins and a growing channel. 2016 highlights include:
- Significant overall growth driven by 100% growth in PowerBroker Password Safe
- Over 100% growth in channel-generated business in the US
- Over 95% growth in multi-product sales, demonstrating that customers value the breadth and depth of the solution set
- Over 90% renewal rates for privileged access management solutions, proving that customers continue to receive value from our solutions
- Continued double-digit profit margins
With these results, the company extended its leadership position with the most comprehensive privileged access management (PAM) solution available today.
In 2016, BeyondTrust helped nearly 500 new customers reduce insider risks and close external security gaps. In addition to adding hundreds of new customers, organizations are leveraging the value of the integrated platform to satisfy maturing privilege requirements, enabling BeyondTrust to expand relationships with existing customers.
“Today, thousands of customers, including over half of the Fortune 100, rely on BeyondTrust to eliminate data breaches from insider privilege abuse and external hacking attacks,” said Kevin Hickey, President and CEO, BeyondTrust. “As a $100M+ global software company we provide all the necessary privileged access management solutions that security and IT teams demand in the efficiency of a single platform.”
Continued Cyber Security Innovation
BeyondTrust customers benefitted from the following significant advancements over the past year:
- BeyondTrust launched the first and only fully MSP-enabled PAM solution enabling managed services providers to extend their offerings using a proven, turn-key service catalogue across both vulnerability and privilege management.
- Made the PowerBroker Privileged Access Management Platform available in the Amazon Marketplace, providing customers will even more choices to deliver their solutions – on-prem appliance, virtual, as software, and now in the cloud.
- Privilege Discovery and Reporting Tool is a free tool that scans the IT infrastructure to find, profile and report on user credentials and SSH keys to help security teams quickly identify and take control privileged account risks.
- The PowerBroker platform for Unix and Linux systems received Common Criteria Certification which helps to assure that government agencies and global enterprises can confidently procure PowerBroker to secure their environments against the threat of privileged account compromised without added costs or complexity of product testing.
- Privilege Endpoint Management for Unix and Linux 9.4 is the first solution of its kind to offer file integrity monitoring as part of the least privilege agent. File integrity monitoring (FIM) monitors and protects system files and binaries which many organizations are embracing to support compliance mandates and reduce risks of malware.
- Released 17 product updates – including Password Safe; Windows, Mac, Auditing and Security Suite, Vulnerability Management and BeyondInsight. New and enhanced connectors into these platforms close security gaps, improve visibility of hidden and emerging threats, and cover the widest range of assets and vulnerabilities.
- The Free Internet of Things (IoT) Vulnerability Scanner is a free enterprise IoT vulnerability scanner that enables organizations to pinpoint the make and model of a particular IoT device and identify high-risk IoT machines. The cloud-based service also generates clear IoT vulnerability reports and remediation guidance.
BeyondTrust greatly expanded its partner engagement in 2016:
- A global distribution agreement with Westcon-Comstor has enabled the company to expand its footprint globally and develop a global channel program capable of recruiting and onboarding new solution provider partners around the world.
- BeyondTrust joined the Intel Security Innovation Alliance certifying PowerBroker for Windows with McAfee’s ePolicy Orchestrator (ePO). The certified integration links the patented industry leader for least privilege management on Windows with McAfee’s ePO and provides a unified approach to least privilege and endpoint security.
- New Technology Alliance Program launched to help organizations develop best-of-breed PAM solutions.
- Key partnerships in Latin America including Net Connection of Brazil, NEC Colombia, and ISecurity QA of Chile expand BeyondTrust’s Partner Group in the region and work closely with Westcon-Comstor to gain access to the support and go-to-market strategies available through the new alliance.
- BeyondTrust joined the FireEye Cyber Security Coalition designed to enhance the abilities of joint customers to more quickly detect and respond to cyber threats.
- Key partnerships with companies like Simeio bring flexible managed identity service and technical expertise to help organizations accelerate PAM projects by offering BeyondTrust solutions as a service.
- Partnerships with respected identity and access management solution providers such as KeyData, Novacoast, Sila Solutions Group and SDG Corporation.
BeyondTrust is proud to be recognized as the Privileged Access Management leader:
- BeyondTrust named a ‘Leader’ in The Forrester Wave Privileged Identity Management, Q3 2016
- For the third straight year, Gartner included BeyondTrust as a ‘Representative Vendor’ in the August 2016 Market Guide for Privileged Access Management
- In SC Magazine’s annual Privileged Access Management Group Test, PowerBroker earned a 5-star rating—the highest achievable rating a reviewed solution can receive, and received the overall “Recommended” rating vs. all PAM tools reviewed.
- BeyondTrust’s PowerBroker for Unix and Linux was awarded the Gold Award in the 2016 ‘ASTORS’ Homeland Security Awards as Best Access Control & Authentication System.
- For the third consecutive year, PowerBroker was named the overall winner in the 2016 Homeland Security Awards as the ‘Best Privileged Access Management Solution’ by Government Security News.
- The company was named to the CRN Security 100 List recognizing the ‘coolest security vendors’ across five categories. According to CRN, vendors named have demonstrated creativity and innovation in IT security product development, as well as a strong commitment to delivering those offerings through solution providers.
- PowerBroker and Retina portfolios were awarded for excellence in the 12th Annual Info Security Products Guide Global Excellence Awards. Privilege Endpoint Management for Mac was selected as the gold winner in the “Identity Management” category, as was Enterprise Vulnerability Management in the “Vulnerability Assessment, Remediation and Management” category. Privilege Endpoint Management for Unix and Linux was recognized as a bronze winner in the “Best Products and Solutions for Finance and Banking” category.
- BeyondTrust was named ‘Best Company to Work For’ by Progress Magazine and Best Companies Group in Canada.
- CRN named BeyondTrust’s Natalie Padula to its prestigious 2016 Women of the Channel List for her outstanding leadership, vision, and unique role in driving channel growth and innovation.
- CEO Kevin Hickey was named a finalist in the ‘EY Entrepreneur of The Year 2016 Award’ that recognizes excellence and extraordinary success in innovation, financial performance and personal commitment. Mr. Hickey was also named a 2016 Most Admired Leader by Phoenix Business Journal.
- Named ‘Market Leader’ by analyst firm Technavio in their Global Privileged Identity Management Market 2016-2020 Report.
- Analyst Group Quadrant Research identifies BeyondTrust as the ‘Technology Leader’ in the Privileged Access Management (PAM) market report.