Aqua Security Doubles Channel-Driven Revenue Year Over YeaBOSTON: Aqua Security, the pioneer in cloud native security, today announced it doubled channel-driven revenue year over year. This growth follows the launch of a new partner program, Aqua Advantage, which focuses on enabling a strong group of strategic partners across key regions.
The new approach has been well-received by partners, leading to 500% growth in partner driven pipeline. Indirect revenue is increasing steadily and now accounts for more than 65% of Aqua’s overall revenue. In the UK alone, Aqua has tripled the number of its strategic partners. Investment from partners in this region has been steadily increasing, and Aqua is building strong relationships with Cloud Service providers.
“It is incredibly exciting for our engineers when they collaborate with Aqua to implement the Aqua Security Supply Chain Management Security Platform,” said Eileen O’Mahony, General Manager at WM Promus, an Aqua partner. “Our mutual commitment to resolving client issues and ensuring the protection of our client’s environments means the partnership has grown stronger over time. We’re really looking forward to a busy future alongside Aqua with ever-increasing numbers of satisfied and secure clients.”
Jeannette Lee Heung, Senior Director, Global Channel and Alliances at Aqua, and one of CRN’s 2023 Channel Chiefs, attributes the success to Aqua’s simple approach. The new program forgoes the traditional multi-tiered structure with complex discount models, to instead build mutually beneficial strategies that support partners’ goals and bolster ongoing revenue generation through services delivery and referral incentives. Aqua Advantage was recognised by CRN in its 2023 Partner Program Guide.
“Since the launch of Aqua Advantage, we have heard from countless partners that our model is impressively simple, which makes it easy to help their customers leverage cloud native security tools,” said Lee Heung. “We’ve streamlined onboarding, deal registration and training so that partners have faster, more effective paths to revenue, and better enablement to support their customers in delivering Aqua’s cloud native security solutions. They have all responded positively and seen success.”
New Support Services & Training
Aqua Advantage has also amped up its support services training. Now, enabled partners have the resources they need to help customers efficiently deploy and manage Aqua’s technology on a broader scale, even if they previously lacked the staff or skillset. Partners are equipped to support customers with long-term roadmaps, which fosters lasting customer relationships and continued revenue opportunities. The program’s enhanced benefits have enabled the team to forge new relationships within the partner ecosystem, and Aqua has doubled its number of partners year over year.
Aqua is constantly evaluating ways it can add value for partners. The most recent additions include two new certification programs: Aqua Sales Certification and Aqua Certified Sales Engineer. Each of these certifications are the result of partner feedback and diligent efforts to evaluate partner needs and provide the support necessary to drive success. As the Aqua Advantage program continues to evolve over the next year, Aqua will expand its offerings to better support MSP partners. Other goals include doubling revenue from partner sourced opportunities, expanding its partner ecosystem by 50 percent, growing the channel team and increasing co-branding marketing.
One Integrated, Comprehensive Platform
Partners are looking to consolidate the solutions they offer to their customers. The Aqua Cloud Security Platform protects the entire development life cycle from code to cloud and back, and is the industry’s most integrated cloud native application protection platform (CNAPP). After expanding its platform with fully integrated Software Supply Chain Security, it is the only solution with the end-to-end context to accurately identify and stop threats in any phase of the application life cycle.
“Partners love working with Aqua because we offer a comprehensive cloud native security platform that is easy to deploy and manage from a single dashboard. They can streamline workflows and reduce overhead while confidently delivering holistic security services for their customers,” said Lee Heung.
