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Identity Authority Saviynt Continues Momentum With Record Q3 and Year to Date Results for 2024

Dec 10, 2024 - financialpost.com
Saviynt, a leader in cloud-native identity and governance platform solutions, reported record-breaking financial and operational results for Q3 2024. The company achieved a contracted Annual Recurring Revenue (ARR) exceeding $185 million, marking a 35% year-over-year increase. Subscription revenue grew over 30% year-over-year, accounting for 88% of total revenues. Saviynt's Identity Cloud platform, enhanced with AI and machine learning capabilities, is transforming identity security by providing advanced analytics and insights, which have been adopted by global enterprises to improve security and operational efficiency.

In 2024, Saviynt expanded its leadership team and workforce, adding over 350 new hires, bringing the total to more than 1,000 employees globally. The company also strengthened its partnerships with global brands and system integrators like KPMG LLP. Saviynt's innovative solutions have been recognized with multiple industry awards, including Cybersecurity Excellence Awards and Global InfoSec Awards. The company continues to focus on securing digital transformations and meeting regulatory compliance for enterprises worldwide.

Key takeaways:

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  • Saviynt reported record-breaking Q3 results for 2024, with contracted ARR exceeding $185 million and over 60 million identities protected across more than 500 customers.
  • The company introduced the AI-powered Intelligence Suite, enhancing identity security through advanced AI and machine learning, and rolled out new enhancements to its Identity Cloud.
  • Saviynt expanded its leadership team and workforce, adding over 350 new hires globally, and strengthened its advisory board and regional leadership in key markets.
  • Saviynt received multiple industry awards in 2024, including Cybersecurity Excellence Awards and Global InfoSec Awards, recognizing its innovation and excellence in identity security.
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