Prevalent Achieves Record-Breaking First Half of 2021, Solidifies Third-Party Risk Management Leadership Position

PHOENIX, July 29, 2021 /PRNewswire/ -- Prevalent, Inc., the company that takes the pain out of third-party risk management (TPRM), today announced strong customer traction and record-breaking revenue for the first half of 2021. Expanding on the company's momentum from Q1 2021, Prevalent:

• Grew its new customer revenue by 100% over H1 2020
• Grew its new customer vendor risk assessment services by 57% over H1 2020
• Grew Vendor Threat Monitor revenue by nearly 720% over H1 2020

"It's great to see customer momentum continuing into the first half of 2021," stated Kevin Hickey, CEO of Prevalent, Inc. "We have invested in innovation and are seeing the results as customers continue to turn to Prevalent to grow and mature their TPRM programs. This has become even more important in the wake of today's prominent breaches, supply chain failures and regulatory scrutiny. We want to ensure that organizations have the best technology and support available to help combat today's third-party threats. I look forward to seeing what this team can accomplish for the second half of this year."

In H1 2021, Prevalent:

• Released the 2021 Third Party Risk Management Study: Looking Beneath the Cyber Risk Surface, providing deep insights into current trends, challenges and initiatives impacting third-party risk management practitioners worldwide. The findings clearly illustrated that most companies are missing key risks at more than one stage of the vendor risk lifecycle, yet few are expanding their TPRM programs to address these risks.
• Announced a partnership with SourceDefense to extend visibility into third-party web vulnerabilities. The Prevalent and Source Defense joint solution offers deeper visibility on the true array of code and vendor relationships powering websites, with automated policy enforcement and remediation features to defeat malicious activity and prove regulatory compliance.
• Introduced the Prevalent Third-Party Incident Response Service, the industry's first third-party incident response service to automate the discovery, assessment and remediation of vendor security incidents.
• Delivered three new offerings to simplify procurement due diligence, bringing procurement and IT security teams together to efficiently scale supplier risk assessments, while decreasing supply chain risks.
• Released a new version of the Prevalent Third-Party Management Platform, which included new risk category letter grades for clear visual analysis, bi-directional risk conversations and custom risk definitions for faster remediation, and technology mapping across third parties to discern concentration risk more easily.
• Offered free Third-Party Risk Management tools to help organizations get up and running quickly by providing immediate security, operational and financial insights into third parties.

To learn more about how to build a successful TPRM program, download  the Prevalent Start-Up Guide. For additional information on the Prevalent Third-Party Risk Management Platform, please visit www.prevalent.net.

About Prevalent
Prevalent takes the pain out of third-party risk management (TPRM). Companies use our software and services to eliminate the security and compliance exposures that come from working with vendors, suppliers and other third parties across the entire vendor risk lifecycle. Our customers benefit from a flexible, hybrid approach to TPRM, where they not only gain solutions tailored to their needs, but also realize a rapid return on investment. Regardless of where they start, we help our customers stop the pain, make informed decisions, and adapt and mature their TPRM programs over time.

Media Contact
Angelique Faul, Silver Jacket Communications, 513-633-0897, [email protected]

SOURCE Prevalent, Inc.

Related Links

http://www.prevalent.net

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