|By Business Wire||
|January 14, 2013 08:01 AM EST||
Aveksa, Inc., the provider of the industry’s most comprehensive Business-Driven Identity and Access Management platform, today announced results for 2012, a year in which the company continued to experience rapid growth in all operational areas. Highlights for the year include record revenue bookings, a rapid increase in headcount and significant expansion of the Aveksa IAM product line. Additionally, for the second year in a row, Aveksa was named a leader in the Identity and Access Governance market by leading technology research and advisory firm Gartner.
Aveksa had an outstanding 2012 exceeding all company goals set at the beginning of the year. In fiscal 2012 Aveksa bookings increased substantially over fiscal 2011 with the number of deals closed more than doubling over the previous year. 45% of this business came from new customers and 55% from existing customers. License and maintenance revenue represented over 78% of the total revenue in fiscal 2012 with services accounting for 22% of total revenue. Maintenance renewals for the year were 100% illustrating strong adoption and continued use of Aveksa’s solutions by the company’s global customers. Aveksa continued to demonstrate its ability to provide enterprises with fast time to value with over 90% of customers reporting live implementations of Aveksa’s IAM solutions and over 70% of new customers being able to go live within 4 months of purchase.
During 2012, Aveksa aggressively hired personnel in all departments and geographies, increasing headcount by over 70%, as the demand for Aveksa’s products and services continued to be very strong. To support this growth, Aveksa relocated to a new larger corporate headquarters in Waltham, Massachusetts and a new European headquarters in London.
In the fourth quarter of 2012, Aveksa experienced its highest booking total in the history of the company, with total revenue and license revenue increasing 102% and 100%, respectively, over the prior quarter. During the quarter, existing customers purchased both additional user licenses and newly-released modules as they continued to realize significant value from the Aveksa platform. Aveksa also added new customers in all of its global sales regions, including North America, Europe, Asia and Africa.
Throughout 2012, Aveksa continued its trend of expanding its IAM product line and introducing innovative new solutions to the market. In June, Aveksa announced proof points validating its innovative approach to Identity and Access Management which enables enterprises to optimize their IAM initiatives through business-driven automation and processes. In August, Aveksa launched new product capabilities designed to enable enterprises to take a business-driven approach to Identity and Access Management for data and applications both inside the firewall as well as in cloud environments. In September, Aveksa announced new capabilities that enable enterprises to utilize Identity and Access business context across a wider range of IT security areas, such as Security Information and Event Management (SIEM).
In December, Aveksa launched version 6.0 of its Identity and Access Management platform, designed specifically to help enterprises fully scale their IAM initiatives and manage the Big Data that is now typically associated with IAM deployments. Shortly thereafter, Aveksa introduced MyAccessLive, a new Software-as-a-Service (SaaS) Identity and Access Management solution. MyAccessLive provides integrated visibility and control of both cloud and on-premise applications in a single cloud-based solution.
Due to strong customer demand, in 2012 Aveksa held user conferences in the United States and Europe. The Aveksa Insights conferences took place in Boston and Amsterdam over 2 days at each location and consisted of keynote presentations from leading IT research analysts firms such as Forrester and Kuppinger Cole, customer case studies from multiple Aveksa customers and interactive technical workshops led by Aveksa. During the conferences, attendees were also given detailed insight into Aveksa’s product roadmap with the opportunity to provide direct feedback to the Aveksa team.
Finally, for the second year in a row, Aveksa was positioned by Gartner, Inc. in the “Leaders” quadrant of the analyst firm’s annual “Magic Quadrant for Identity and Access Governance” report, which was published on December 17. The Magic Quadrant report from Gartner identifies the leading providers of Identity and Access Governance (IAG) solutions after a thorough examination of the offerings, differentiators and strategies of vendors in the IAG market.
“It has been remarkable to be part of Aveksa’s growth over the past year," said Vick Viren Vaishnavi, President and CEO of Aveksa. “2012 saw Aveksa expand its leadership position in the IAM market with many new product innovations and further validation from industry thought leaders, such as Gartner. We also had record sales performance and a tremendous increase in the number of Aveksa personnel around the world. However, the real measure of Aveksa’s success is continued customer adoption of our business-driven IAM solutions.”
Aveksa provides the industry’s most comprehensive Business-Driven Identity and Access Management platform. By uniquely integrating Identity and Access Governance, Provisioning and Authentication, Aveksa enables enterprises to manage the complete lifecycle of user access for SaaS and On-premise applications and data. With Aveksa, IT organizations can reduce Access Management complexity and increase operational efficiency while minimizing risk and ensuring sustainable compliance. Aveksa provides enterprises with the industry’s fastest time to value with over 90% of customers reporting live implementations of the company’s business-driven Identity & Access Management solutions and over 80% of these customers live with the latest version of the Aveksa platform. For more information, visit www.aveksa.com.
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