Home Internet Delinea sees strong financial results for Q1 2022

Delinea sees strong financial results for Q1 2022

by Helen J. Wolf
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Delinea has announced strong results for the first quarter of the 2022 financial quarter, with annual recurring revenue growth (ARR) of more than 35%.

In addition, the privileged access management provider added 340 new logos in the quarter and reached an important milestone, with an ARR of more than US$200 million.

The results reflect continued momentum for the company, noting that the high point of the quarter was its rebrand to Delinea in February, following the merger of Thycotic and Centrify in 2021.

Delinea sees strong financial results for Q1 2022

“Rebranding can often be a distraction, but for Delinea, it was a connecting moment during our quarter that sharpened our focus on delivering the best seamless PAM solutions,” said Art Gilliland, CEO of Delinea.

“Communicating a clear purpose and mission to our customers as Delinea gave us additional momentum to build into 2022, demonstrated by achieving a significant ARR milestone during the quarter.”

Delinea also strengthened its leadership team by hiring Salesforce veteran Phil Calvin as Chief Product Officer and promoting Damon Tompkins to Chief Revenue Officer.

In addition, the company promoted Shawn Brady to vice president of sales in the Americas. It made other key hires to the global sales force, such as regional leaders Spencer Young and Wahab Yusoff. Young will lead EMEA sales, and Yusoff will lead APAC sales.

In addition, leading technology advisor Larry Quinlan joined the company’s board of directors.

“In addition to innovation, the proven leaders we have added to our executive team have already played a critical role in supporting the accelerated growth of our company,” added Gilliland.

“Each of these industry veterans brings world-class expertise and knowledge when it comes to business transformation and navigating the challenges of scaling in a time of rapid growth.”

The financial success comes after Delinea announced a series of training and certification initiatives to help scale the capacity of VARs, System Integrators, MSPs, and MSSPs to meet the demand for PAM solutions.

The company has invested in partner training and certification from A/NZ and Asia, with nine in-person partner events.

Six are personal events in Canberra, Singapore, Perth, Sydney, Auckland, and Wellington. Three are virtual events covering North Asia, South Asia, and A/NZ.

The company also says more events will be planned for the year’s second half, including Melbourne, Brisbane, and Adelaide.

The four-hour partner enablement events are tailored for pre-sales personnel and consultants. They will cover Delinea’s primary people-centric privilege management and enhancement tools, including Delinea Secret Server, Server Suite, and Privilege Manager.

Delinea says it has also trained trainers and refined the courses specifically for its Secret Server Certified Engineer certification, giving partners insight and hands-on experience with the tool.

Delinea’s customer base ranges from small businesses to the world’s largest financial institutions, intelligence agencies, and critical infrastructure companies.

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