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Entering a new company can be difficult, especially when the goal is to reach $1 billion in revenue.
Patricia Grant joined cybersecurity company Tenable last month to lead digital transformation, innovation and modernization. The news comes at a “pivotal moment for the company,” said Amit Yoran, chairman and CEO of Tenable, in the company’s announcement.
As some industries feel the effects of record inflation, cybersecurity continues to be a business necessity. Tenable, like many others, is looking to grow.
Across the sector, cybersecurity firms raised their revenue forecasts for the year. CrowdStrike, SentinelOne, Palo Alto Networks and Cisco all reported growth, CNBC reported.
Tenable was founded in 2002 and went public in the summer of 2018 as more companies began to prioritize cyber risk management. The company has grown to support more than 40,000 customers worldwide, including more than 60% of the Fortune 500 and more than 40% of the Global 2,000.
As attacks expand in scope and frequency, security-focused organizations have ample room for growth amid the widespread need for cybersecurity across businesses of all sizes. At Tenable, the revenue goal exceeds 10 figures.
“The exciting thing for me is that we all have that line of sight, that path, to $1 billion,” said Grant, a 30-year tech veteran with stints at ServiceNow, Symantec and PeopleSoft. “But you know, for me, [that means] I make sure we grow and expand quickly and I can put the tools, technology, processes, people – all of that – in place to make sure we scale.”
The company expects to end this year with revenue of $673 million to $679 million, according to Q2 2022 by the company financial report for the period ending June 30.
“Coming from the companies I’ve worked at before and having that insight and seeing what we need to do, looking at the size of the company now and the different companies I’ve looked at, I have a good insight into what we need do to do that,” Grant said. “I feel confident that I can do that quickly.”
Grant’s plan focuses on three main business areas:
- Resource efficiency
- Hassle-free experiences going to market
- Optimizing end-user experiences, internally and externally
Within resource efficiency, Grant also emphasized the importance of cost optimization.
“There’s a lot of different things affecting the world right now, so what you’re seeing is that companies, in general, are very cautious about spending,” Grant said. “You’re going to see a lot of leaders there who are really looking at how to make sure we’re spending every single dollar as efficiently as possible.”
Grant plans to increase automation, and in turn productivity, by reviewing existing processes and systems.
Go-to-market experiences can be improved by ensuring team members have the necessary tools and technology in a timely manner. Grant’s team also plans to provide a better user experience by ensuring that any tech in place is “simple, easy and intuitive.”
Change takes time, though.
“I’m only in week three, so I’m going through it and seeing what those opportunities are to gauge,” Grant said.