Third-party risk management leader kicks off 2022 with record first quarter

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PHOENIX, April 13, 2022 /PRNewswire/ — Prevalent, Inc.the company that eases the pain of third-party risk management (TPRM), today announced that after a record-breaking 2021, the company has started the year with tremendous customer growth and momentum. In the first quarter of 2022, Prevalent:

  • Increase in total billings by 74% compared to the first quarter of 2021
  • 49% growth in new and existing customers, with new customers representing 67% growth
  • Achieved record gross and net retention rates, illustrating high customer satisfaction and exceptional program growth over time

“After ending a banner year in 2021, I am pleased to see so many new customers adopted as well as the growth of existing customers continue this year,” said Kevin HickeyCEO of Prevalent, Inc. “Over the past 24 months, there has been quite a bit of uncertainty with the pandemic, supply chain issues, and the ever-increasing number of third-party security incidents. Companies continue to look to Prevalent to help reduce these risks, and over the next year, we are committed to providing our customers with the resources and solutions they need to keep their organizations operating at the highest level of resilience.”

In the first quarter of 2022, Prevalent:

About prevalence

Prevalent simplifies third party risk management (TPRM). Companies use our software and services to eliminate the security and compliance risks that arise from 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 FaulSilver Jacket Communications, 513-633-0897, [email protected]

SOURCE Prevalent, Inc.

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