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42% Annual SaaS Revenue Growth and 42% Increase in New Customers Show Strong Momentum Behind the Company’s Converged Identity Platform Strategy
LOS ANGELES-(BUSINESS WIRE)-Saviynt, a leading provider of intelligent identity governance solutions, today announced record annual revenue for 2021 driven by customers using a single converged Identity platform ( CIP) of the industry with cloud-native Identity Governance and Privileged Access Management. Organizations embarking on Zero Trust security journeys have turned to Saviynt Enterprise Identity Cloud (EIC) to lower costs, reduce complexity, and streamline IAM operations.
Product Innovation Drives Customer Acquisition, Retention, and Success
In November 2021, Saviynt announced the general availability of Enterprise Identity Cloud (EIC) 2021. The latest release delivers deployment and integration cost savings to traditional IGA and PAM products through innovative features such as auto-discovery of unmanaged apps and users, shared identity workflows, as well as faster decision making with insights and recommendations at risk. Saviynt also introduced several enhancements for end-users by providing identification services through new channels such as a certified ServiceNow app, Microsoft Teams app, and an enhanced desktop trusted access agent.
Saviynt’s EIC solutions, along with its new Application Access Governance (AAG) and Third-Party Access Governance (TPAG) product offerings, have seen 42% annual revenue growth in SaaS, largely driven of 138% revenue increase with its Cloud PAM solution, which ensures sensitive and privileged access to cloud workloads and SaaS apps through zero standing privilege (ZSP).
Saviynt’s continuous product innovation and customer-centric support strategy has delivered an industry-leading 97% net dollar retention rate and 42% increase in its customer base as Fortune 1000 and Global 2000 have embraced companies have integrated its identity platform to improve their cybersecurity postures.
“To meet our business and security goals, we need an identity solution that is effective and simple to manage,” said Kumar KV, CISO at Narayana Health. “Saviynt has helped us secure access to our application ecosystem and lay the foundation for the next phase of our identity and security strategy. The EIC platform has delivered on its promise of fast ‘time to value’ in our journey towards enhanced auditing and security postures with an enhanced user experience. ”
Major partnerships also play a critical role in the company’s revenue growth. Saviynt has launched its strategic alliance and Managed Services Program with Deloitte, one of the largest cyber risk service providers, to deliver turnkey digital identity solutions.
“Saviynt has had an incredible 2021, but there is still a lot of growth in the future,” said Amit Saha, CEO of Saviynt. “As we begin 2022, we are focused on helping our customers change the identity where it is most needed by implementing Zero Trust, securing multi-cloud environments, and restricting management to third-party access. ”
Rising Global Demand Boosts Company Growth
The continuing demand for its innovative cloud identity solutions has pushed Saviynt to significantly expand its workforce, whose employee numbers have grown by 56% over the past twelve months – along with teams in the EMEA and APAC regions. which is growing by more than 100%. Saviynt’s global headcount will reach 850 employees in 2021.
Saviynt Continues to Receive Industry Recognition for Leadership and Growth of Innovation
In addition to this significant revenue growth, Saviynt received the highest rating on the 2021 Gartner® IGA Solution Scorecard and was recognized as Gartner® Peer Insights Customers ’Choice 2021.
KuppingerCole listed the company as a General Leader in Privileged Access Management (PAM) within its 2021 Leadership Compass Report, and a General Leader in Access Control for SAP and other applications within its 2022 Leadership Compass Report.
In 2021, Saviynt was ranked on the Inc list. Magazine of the fastest growing private company in America entering #1,585 with 295% growth and listed as a member of the Deloitte Technology Fast 500. These recognitions are a direct result of the company’s growth in annual recurring revenue (ARR).
To learn more about Saviynt, please visit www.saviynt.com.
About Saviynt
Saviynt’s Enterprise Identity Cloud helps modern businesses scale cloud initiatives and solve the toughest security and record keeping challenges over time. The company combines identity governance (IGA), granular application access, cloud security, and privileged access to secure the entire business ecosystem and provide a hassle-free user experience. For more information, please visit saviynt.com.
Check out the source version at businesswire.com: https://www.businesswire.com/news/home/20220421005193/en/
Media:
Nicole Rosenberg
fama PR for Saviynt
617-986-5041
[email protected]
Source: Saviynt