AUSTIN, Texas, March 14, 2019 /PRNewswire/ -- SecureLink, the leader in vendor privileged access, today released key financials for 2018, illustrating significant revenue growth and strong demand for the company's technology platform. SecureLink reported an impressive 48 percent year-over-year (YOY) revenue increase, based on steady quarterly growth. Results for 2018 exceeded target projections and the record-setting results achieved in 2017. New customer wins primarily came from industries with strict regulatory compliance requirements such as healthcare, legal, and gaming.
"With the record growth achieved in 2018, we've essentially doubled our revenue in the last two years," said Joe Devine, CEO of SecureLink. "Our total annual recurring revenue (ARR) exceeded our targets and we expect this pace of growth to continue this year."
Since its formation in 2003, SecureLink has focused on helping enterprise customers and technology vendors establish secure and auditable remote access connections. With increased cybersecurity threats in recent years, companies are taking more proactive approaches to managing network access for all users, including employees and third-party technology vendors that require access to maintain and troubleshoot systems. Privileged Access Management (PAM) is one of the fastest growing areas of cybersecurity and SecureLink provides a variation of that called vendor privileged access management (VPAM).
Mr. Devine continued, "Enterprises are adopting PAM solutions, but these solutions are not intended to manage external third-party vendors. Pairing the SecureLink platform with PAM solutions offers comprehensive protection and greatly simplifies the reporting required to meet regulatory compliance across the board."
SecureLink is actively building integrations with the largest PAM providers to give customers of both solutions enhanced capabilities including greater granular command filtering, endpoint security, and advanced credential management capabilities for remote vendor users. An integration with Thycotic was announced earlier this year.
Vista Equity Partners made a strategic investment in SecureLink in 2017 with its Endeavor Fund for high-growth companies.
To learn more about the SecureLink platform, visit securelink.com.
SecureLink is the leader in managing vendor privileged access and remote support for both highly regulated enterprise organizations and technology vendors. SecureLink serves more than 30,000 organizations worldwide. World-class companies across multiple industries including healthcare, financial services, legal, gaming, and retail rely on SecureLink's secure, purpose-built platform. SecureLink is headquartered in Austin, Texas.
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