Leader in third-party risk management closes 2021 with record growth

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PHOENIX, January 12, 2022 / PRNewswire / – Prevalent, Inc., The Company That Makes Third Party Risk Management (TPRM), today announced a record year 2021, laying the foundations for an exceptional year 2022 while further validating the company’s leadership position. Building on the momentum of the company over the first three quarters, Prevalent:

  • 41% increase in total billings in the fourth quarter of 2021 compared to the fourth quarter of 2020, thanks to exceptional growth of 232% in sales of add-ons to existing customers
  • Increase in customer satisfaction in Q4 2021, as evidenced by a +59 NPS market leader®
  • Increase in annual recurring revenue (ARR) of over 30% compared to 2020, with an increase in bookings from partners of 181% year over year

“Over the past eighteen months, companies have been tasked with maintaining their own business resilience while dealing with an unprecedented increase in third-party cybersecurity attacks, supply chain disruptions and new demands. of compliance ”, declared Kevin hickey, CEO of Prévalent. Prevalent has answered the call, helping businesses manage risk at every stage of the supplier lifecycle. Our significant growth during 2020 clearly demonstrates that customers depend on and trust us to ensure their operations business are not disrupted by third parties. I am extremely proud of the work this team has accomplished to date and look forward to a successful 2022. “

In 2021, Prévalent:

Introducing category definition solutions and capabilities to help organizations stay ahead of third party risk

Publishing free resources to help security, procurement and risk management teams take control of third-party risk

  • Distributed free questionnaires to help the risk management community assess their third party’s exposure to Log4j vulnerability, and the Kaseya and Windows Print Spooler attacks.
  • Free free third-party risk management tools to help organizations get started quickly by providing immediate safety, operational and financial information to third parties.
  • Introduced free third-party risk monitoring, providing companies with ongoing business and financial information to complement current TPRM programs and fill gaps left by old cybersecurity scoring tools.
  • Checklists published to help organizations more easily understand and report on their third party’s compliance with CCPA / ACPL, GDPR, HIPAA, and NIST.

Expanded its leadership in the third-party risk management market

About Prévalent
Prevalent simplifies Third Party Risk Management (TPRM). Businesses use our software and services to eliminate the security and compliance risks of working with vendors, vendors, and other third parties throughout the vendor risk management lifecycle. Our customers benefit from a flexible and hybrid approach to TPRM, where they not only get solutions tailored to their needs, but also realize a rapid return on investment. No matter where they start, we help our clients stop the pain, make informed decisions, and adapt and mature their TPRM programs over time.

Media contact

Angelique Faul
Communications silver jacket
513-633-0897
[email protected]

SOURCE Prevalent, Inc.

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