Identity Solution Provider Expands Team by 30% and Drives 48% Recurring Revenue Growth Despite the Unexpected Business Challenges of the COVID-19 Pandemic
LOS ANGELES--(BUSINESS WIRE)--#cybersecurity--Saviynt (www.saviynt.com), the leading cloud-first identity governance platform, today announced record company growth during the first half of 2020, fueled by major product innovation, competitive customer wins, and key partnership additions.
Ranked in the top 1000 (#941 in the U.S., #86 in CA) of Inc. Magazine's 5000 fastest-growing U.S. companies – jumping 597 positions from last year – Saviynt continues to experience explosive growth since the start of 2020. The company's recurring revenue grew 48% year-over-year, while the number of employees expanded 30%, despite the unexpected challenges businesses have confronted this year.
"Saviynt’s continued growth is a true testament to our team's hard work and commitment to securing our customers' business applications and infrastructure,” said Amit Saha, CEO of Saviynt. "Identity is a top priority for customers facing new business challenges during the COVID-19 pandemic, including accelerating digital transformation and shifting to remote work. I am excited for what's to come as we’ve built a world-class team to execute on our vision and drive future growth."
As companies continue to adapt to the pandemic, Saviynt has helped enterprises rapidly secure data infrastructure and integrate new applications including major collaboration suites like MS Teams and G Suite. With Saviynt’s COVID-19 support program, Toyota Connected quickly integrated JIRA and Slack into their Saviynt Identity Hub. The complementary offering enabled them to quickly onboard these apps while securing frictionless access for their remote workforce.
A significant factor in Saviynt’s growth is the company’s commitment to product innovation. In the recent KuppingerCole Leadership Compass Report on Access Governance & Intelligence, Saviynt was the only vendor awarded "Strongly Positive" ratings in all five product criteria.
This praise comes after the aggressive expansion of its Intelligent Identity solution, including a recent Cloud PAM release, which provides improved governance and access to privileged assets across enterprise applications and platforms, including Google Cloud Platform (GCP). Additionally, the company launched its SoD Analyzer-as-a-Service, which performs continuous separation of duties assessments as an added layer to its identity and compliance solution.
Saviynt’s industry-recognized product innovation has resulted in the only enterprise-grade Identity-as-as-Service solution that includes Identity Governance & Administration (IGA), Privileged Access Management (PAM), Application GRC – all built for and delivered in the cloud. As IGA modernization programs rapidly replace legacy vendors with cloud-first solutions, Saviynt has quickly grown its customer base by 50% year-over-year. This growth comes on the heels of competitive enterprise customer wins, including Walgreens, Equifax, Wawa, Hormel Foods, and others.
“We had to do something quite impressive to get more in the modern age and fit for the digital transformation that BP is going through,” shared Dafydd Hughes, IT&S Portfolio Director for Identity & Access Management at BP. “When we looked at products, we chose native cloud to make logical choices for our way forward. Saviynt fits very nicely into that.”
In addition to helping its direct customers, Saviynt strengthened its relationships with several technology developers. The company became a Certified Workday Partner, launched Cloud PAM on GCP, and expanded integrations with Stealthbits and Microsoft. It also bolstered their System Integrator and Consulting partner relationships by adding Persistent, Nixu, and iC Consult as top-tier Diamond level partners, and joined Deloitte’s Alliance program. These partners join Saviynt's ever-expanding channel to bring its comprehensive Identity solutions to customers worldwide.
Chirag Patel, a Principal at Deloitte, commented, “An effective cyber security program should address identity and access risk across their assets in order to better govern cyber risk. Technologies like Saviynt blend these capabilities into a central solution, which aligns with where we see many of our clients headed as part of their digital transformation efforts."
Saviynt also received several industry accolades including winning the InfoSec Next Gen Identity and Access Management Award, earning two silver CyberSecurity Excellence Awards for Fastest Growing & Most Innovative in North America, and was named a finalist in the Black Unicorn and SaaS Awards.
To learn more about Saviynt, please visit www.saviynt.com.
Saviynt is the leading identity governance platform built for the cloud. It helps customers accelerate cloud initiatives and solve the toughest security & compliance challenges in record time. The Saviynt Intelligent Identity Hub converges IGA, granular application access, cloud security, and privileged access into the industry’s only enterprise-grade SaaS solution. Designed using the principles of least privilege and zero trust, Saviynt’s adaptive identity solution draws a security perimeter that protects valuable assets while enabling businesses to run more efficiently. Saviynt is recognized as a market leader by industry analysts and experts alike, most recently joining the ranks of Inc. Magazine’s 5000 fastest-growing U.S. companies. For more information please visit www.saviynt.com.
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