Delinea, a leading provider of privileged access management (PAM) solutions for seamless security, today announced the close of its fiscal year, delivering annual recurring revenue (ARR) growth in excess of 25% year-over-year while growing recurring revenue to 85% of total revenue. The company added over 1,300 new customers during 2022 as it extended PAM to provide authorization for all identities across the modern, hybrid enterprise.
A notable highlight of the year was rebranding the company as Delinea in February 2022. The company launched its new identity and name through a comprehensive digital marketing program and made its brand debut to the industry at the RSA Conference in June 2022. In November, Delinea was recognized with four 2022 North American Transform Awards including Gold Awards for Best Strategic or Creative Development of a New Brand and Best Visual Identity from the Technology, Media, and Telecommunications Sector.
In July 2022, Delinea announced a strategic partnership with Authomize, a leading provider of Cloud Identity and Access Security, to co-sell each other’s solutions to provide better control over who can access cloud applications and services. When combined with available integrations, organizations can securely store credentials while automating access governance, reducing credential theft and lateral movement in all cloud environments.
“Delinea continued to build momentum in 2022, kicking the year off with an award-winning rebrand and finishing the year with a record quarter, putting us at a key milestone of $250 million in ARR,” said Art Gilliland, CEO at Delinea. “We enter 2023 with an active and growing customer base, a strong financial position, and an innovative and exciting roadmap to achieve our vision for extended Privileged Access Management.”
Key highlights for the full year include:
- Realized a key milestone with $250 million in ARR, growing at more than 25% year-over-year
- Grew recurring revenue to 85% of total revenue
- Added 1,300+ new customers in 2022
- Maintained a Customer Satisfaction Rating of 4.8 (out of 5.0) by customers
- Delivered nearly 34,000 downloads of Delinea’s free tools and solutions trials in 2022
- Served over 140,000 streams of the 401 Access Denied podcast, an increase of over 300% year-over-year
Notable 2022 product innovations:
- Secret Server: Introduced new security controls for better resiliency with automated redundancy to provide break-glass access to secrets, and debuted Remote Access Service, a VPN-less session management feature for easier, integrated privileged account management.
- Server PAM: Cloud Suite can now add users from cloud directories such as Active Directory (AD), LDAP, Okta, Azure AD, and others to existing local Linux groups. Server Suite now resolves conflicts when identities provided by AD are not consistent with existing local identities when managing access to a Linux server through AD.
- DevOps Secrets Vault: Introduced enhancements that up-level secrets management in Kubernetes environments and introduced features including Bring Your Own Key (BYOK), GitHub action integration, and user interface improvements for enhanced flexibility and additional credential security controls across cloud infrastructure.
- Privilege Manager: Delinea’s workstation PAM solution now offers development support on the most recent Mac computers, and enables US government customers to integrate PAM capabilities with Microsoft Azure AD Government identities.
Industry recognition and awards in 2022:
- The company was named a Leader by Gartner in the 2022 Gartner Magic Quadrant for PAM for the first time as Delinea
- Delinea was recognized as a Leader in the 2022 GigaOm Radar Report for PAM
- Delinea won Gold in four 2022 Cybersecurity Excellence Awards categories including Cloud PAM, Identity and Access Management (IAM), Best Cybersecurity Podcast, and Cybersecurity Blogger of the Year (Joseph Carson)
- The company was named a Gold Winner in the Hot Company of the Year category for Security Software in the 17th Annual Information Technology World Awards
- Delinea Secret Server won Publisher’s Choice for PAM in the 2022 Global InfoSec Awards, while Server Suite was named “Cutting Edge” for PAM for Cloud Infrastructure
- Secret Server received a Silver GlobeeⓇ Award in the Privileged Access Control, Security, and Management category of the 2022 Cyber Security Global Excellence Awards.