Delinea Poised to Disrupt Identity Security in 2024 After Achieving Key ARR Milestone, Debut of the Delinea Platform, and Strategic Acquisitions

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Mar 07, 2024, 08:00 ET

Privileged Access Management leader closes 2023 with over 20% year-over-year annual recurring revenue growth

SAN FRANCISCO, March 7, 2024 /PRNewswire/ -- Delinea, a leading provider of solutions that seamlessly extend Privileged Access Management (PAM), today announced the close of its 2023 fiscal year, surpassing a key annual recurring revenue (ARR) milestone of $300 million and achieving a 'Rule of 40' profile. The company also grew recurring revenue to greater than 85% of total revenue.

Delinea accomplished a notable innovation milestone in 2023 by debuting the Delinea Platform, a cloud-native foundation for Delinea's industry-recognized PAM solutions that empowers end-to-end visibility, dynamic privilege controls, and adaptive security. The Delinea Platform combines enterprise vaulting, VPN-less privileged remote access, and privilege controls to enforce just-in-time and just enough privileges to provide a more secure, resilient, scalable SaaS solution that expands with an organization's needs.

Delinea has quickly accelerated its momentum in 2024, announcing two strategic acquisitions to start the year. In January, the company acquired Authomize to extend the Delinea Platform's reach with comprehensive privileged controls in the cloud while expanding its role to provide a strong defense against identity-based attacks. In February, Delinea announced its intent to acquire Fastpath to revolutionize privileged access and identity governance with an AI-driven authorization security platform, making Delinea the definitive source for managing authorization across infrastructure, apps, and data.

"2023 was a year of significant growth for Delinea, exemplified by achieving a key ARR milestone and 'Rule of 40' profile," said Art Gilliland, CEO at Delinea. "We are steadfast on continuing to disrupt identity security this year; our acquisitions of Authomize and Fastpath are just the beginning."

Key highlights for the full year include:

Surpassed $300 million in ARR, growing at more than 20% year-over-year
Delivered profitable growth and realized a 'Rule of 40' profile (as based on EBITDA)
Grew recurring revenue to more than 85% of total revenue
Maintained a Customer Satisfaction Rating of 4.8 (out of 5.0) by customers

2023 Delinea innovations:

Delegated Machine Credentials: Delinea was awarded a US patent for Delegated Machine Credentials, a capability that delegates entitlements of a specific machine to the workloads running on it to streamline privilege controls on their infrastructure while providing secure and efficient machine access.
AI-Driven Audit (AIDA): Delinea debuted AIDA, an industry-first capability that utilizes a combination of user activity recognition and AI learning to monitor privileged session recordings and detect potentially dangerous activities.
MFA at Depth: Delinea introduced Multi-Factor Authentication (MFA) enforcement at depth, including on individual privileged credentials beyond MFA at login. The new layer of security reduces risk for highly sensitive credentials, helping organizations meet increasingly stringent compliance requirements.

Industry recognition and awards in 2023
Delinea's strategy, execution, and success were also acknowledged by the industry as the company was the only vendor to be recognized as a Leader in all five major industry analyst reports for Privileged Access Management in 2023. Delinea was named a Leader in the Gartner Magic Quadrant for PAM for the fifth consecutive time, and was also recognized as the Growth Leader in PAM by Frost & Sullivan and a Value Leader by Enterprise Management Associates.

Other notable accolades include:

Gold award in the 2023 Cybersecurity Excellence Awards category for Cloud PAM
"Cutting Edge" for Privileged Access Management in the 2023 Global InfoSec Awards
"Evolutionary Security Solution" for the Delinea Platform in the Future Security Awards 2023
Fifth consecutive NorthFace ScoreBoard Award for excellence in customer service

For more information about Delinea visit delinea.com.

About Delinea
Delinea is a leading provider of Privileged Access Management (PAM) solutions for the modern, hybrid enterprise. The Delinea Platform seamlessly extends PAM by providing authorization for all identities, granting access to an organization's most critical hybrid cloud infrastructure and sensitive data to help reduce risk, ensure compliance, and simplify security. Delinea removes complexity and defines the boundaries of access for thousands of customers worldwide. Our customers range from small businesses to the world's largest financial institutions, intelligence agencies, and critical infrastructure companies. Learn more about Delinea on LinkedIn, Twitter, and YouTube.

Contacts:
Brad Shewmake
Delinea
[email protected]
+1-408-625-4191

John Kreuzer
Lumina Communications
[email protected]
+1-408-963-6418

SOURCE Delinea