BeyondTrust announces significant growth in first half of 2018

BeyondTrust, a leading cybersecurity company dedicated to preventing privilege misuse and stopping unauthorised access, has announced extremely strong second quarter and 2018 year-to-date results.

The company has reported significant revenue increase, hundreds of new customers, accelerating growth outside of North America and a growing channel.

2018 first half highlights include:

• Over 100% revenue growth in PowerBroker Password Safe, the company’s comprehensive Privileged Account and Session Management (PASM) solution
• A 60% revenue growth in multi-product business, highlighting the breadth and depth of BeyondTrust solutions and indicating strong demand for the PAM platform
• Over 25% growth in revenue from cross-selling new products to existing customers, highlighting the value customers receive from BeyondTrust solutions and the ease of plugging new solutions into the central PowerBroker platform
• Nearly 200 new organisations added to the growing family of BeyondTrust customers
• Accelerating growth outside of North America, driven by 50%+ growth in EMEA and Asia-Pacific and 80%+ growth in Latin America, demonstrating continued high global demand for privileged access management solutions

With these results, the company extended its leadership position with the most comprehensive privileged access management (PAM) solution available today.

As IT leverages next-generation technologies including cloud infrastructure and IoT, and business processes like DevSecOps in its environments, enterprises are optimistic about the business benefits these technologies can bring.

In fact, in a recent BeyondTrust survey, 90% of enterprises are engaged with at least one next-generation technology or process, yet 78% of respondents cited security risks associated with next-generation technologies as somewhat to extremely large.

Privileged access management solutions like BeyondTrust’s unified platform ease this transition for IT and facilitate the move to these technologies according to 82% of respondents.

“With over 100% growth in our privileged password and session management solution and the addition of several blue-chip customers it is clear that our products and vision are resonating in the marketplace,” said Kevin Hickey, President and CEO at BeyondTrust. “We are excited to help address our customers’ current security needs and look forward to addressing their future needs as they deploy the critical privilege security layer across their on-premise, cloud and hybrid environments.”

“The continued expansion of more than 20 new partners in BeyondTrust’s global partner network alone thus far in the first half of the year has been an exciting development,” said Joseph Schramm, Vice President of Strategic Alliances at BeyondTrust. “In addition, our consulting and Global SI programme continues to show continued accelerated growth and has delivered nearly a dozen key customer wins.”