PHOENIX: BeyondTrust has announced extremely strong fourth-quarter and 2017 results, with a significant revenue increase, hundreds of new customers, strong profit margins and a growing channel. 2017 highlights include:
· Over 50% growth in PowerBroker Password Safe, our comprehensive Password Management solution
· 47% growth in multi-product business, highlighting the breadth and depth of BeyondTrust solutions and indicating strong demand for the PAM platform
· 64% growth in channel business demonstrating significant momentum
· Revenue from cross-sell of new products to existing customers grew over 40%, highlighting the value customers receive from BeyondTrust solutions
· Over 500 new enterprise customers added to the growing family of BeyondTrust customers
· Double-digit growth in revenue, driven by 100%+ growth in EMEA, demonstrating continued high demand for Privilege Management solutions.
With these results, the company extended its leadership position with the most comprehensive privileged access management (PAM) solution available today.
In 2017, BeyondTrust helped more than 4,000 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.
“With 80% of data breaches the result of the abuse or misuse of privileged credentials on an endpoint, it’s important for organizations to have a complete and integrated solution to address these risks,” said Kevin Hickey, President and CEO, BeyondTrust. “As a $125M+ 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.”