Delinea, a leading provider of privileged access management (PAM) solutions for seamless security, announced strong results for Q1 2022, seeing growth in annual recurring revenue (ARR) in excess of 35%. The company also added over 340 new logos during the quarter and surpassed a key milestone with over $200 million in ARR. The results show continued momentum as the company executes its mission to provide seamless privileged access management.
The highlight of the quarter was the company’s rebrand as Delinea in February, following the merger of longtime PAM leaders Thycotic and Centrify in 2021. Delinea delivers the digital freedom that everyone deserves by seamlessly defining the boundaries of access with powerful, customizable, and scalable solutions that put privileged access at the center of cybersecurity.
“Rebranding can often be a distraction, but for Delinea it was a unifying moment during our quarter that sharpened our focus on delivering best-in-class, seamless PAM solutions,” said Art Gilliland, CEO at Delinea. “Communicating a clear purpose and mission to our customers as Delinea gave us additional momentum to build on throughout 2022, demonstrated by achieving a significant ARR milestone during the quarter.”
In parallel with its focus on innovation and execution, Delinea bolstered its leadership team by bringing on Salesforce veteran Phil Calvin as Chief Product Officer and promoting Damon Tompkins to Chief Revenue Officer. The company also promoted Shawn Brady to Vice President of Sales, Americas, and made a series of key hires on the global sales team including regional leaders Spencer Young and Wahab Yusoff joining to lead EMEA and APAC Sales, respectively. Delinea also added distinguished technology advisor Larry Quinlan to its Board of Directors. The newest additions to the team bring with them a wealth of experience in cybersecurity to strengthen Delinea’s position as the leading, global provider of PAM.
“Beyond innovation, the proven leaders we added to our executive team have already been pivotal in supporting our company’s accelerated growth. Each of these industry veterans bring a world-class level of expertise and knowledge as it relates to business transformation and navigating the challenges that rise when scaling in a time of rapid growth,” Gilliland continued.
Delinea’s forward-thinking approach to PAM also led to insightful research on how cloud automation is key to future-proofing Cybersecurity. The March 2022 report found that cloud automation is the key to future-proofing cybersecurity, especially when coupled with autonomous privileges and access. Eighty-six percent (86%) of respondents are exploring ways to automate access controls, especially for privileged access.