Delinea, a pioneering provider of solutions that seamlessly extend Privileged Access Management (PAM), announced the close of its 2023 fiscal year, surpassing a key annual recurring revenue (ARR) milestone of $300 million and achieving a ‘Rule of 40’ profile. The company also grew recurring revenue to greater than 85% of total revenue.
Delinea accomplished a notable innovation milestone in 2023 by debuting the Delinea Platform, a cloud-native foundation for Delinea’s industry-recognised PAM solutions that empowers end-to-end visibility, dynamic privilege controls, and adaptive security. The Delinea Platform combines enterprise vaulting, VPN-less privileged remote access, and privilege controls to enforce just-in-time and just enough privileges to provide a more secure, resilient, scalable SaaS solution that expands with an organisation’s needs.
Two strategic acquisitions
Delinea has quickly revved its rate in 2024, announcing two strategic acquisitions to start the year
Delinea has quickly accelerated its momentum in 2024, announcing two strategic acquisitions to start the year. In January, the company acquired Authomize to extend the Delinea Platform’s reach with comprehensive privileged controls in the cloud while expanding its role to provide a strong defense against identity-based attacks.
In February, Delinea announced its intent to acquire Fastpath to revolutionise privileged access and identity governance with an AI-driven authorisation security platform, making Delinea the definitive source for managing authorisation across infrastructure, apps, and data.
Growth for Delinea
“2023 was a year of significant growth for Delinea, exemplified by achieving a key ARR milestone and ‘Rule of 40’ profile,” said Art Gilliland, CEO at Delinea.
“We are steadfast on continuing to disrupt identity security this year; our acquisitions of Authomize and Fastpath are just the beginning.”
Key highlights
Key highlights for the full year include:
- Surpassed $300 million in ARR, growing at more than 20% year-over-year
- Delivered profitable growth and realised a ‘Rule of 40’ profile (as based on EBITDA)
- Grew recurring revenue to more than 85% of total revenue
- Maintained a Customer Satisfaction Rating of 4.8 (out of 5.0) by customers
2023 Delinea innovations
- Delegated Machine Credentials: Delinea was awarded a US patent for Delegated Machine Credentials, a capability that delegates entitlements of a specific machine to the workloads running on it to streamline privilege controls on their infrastructure while providing secure and efficient machine access.
- AI-Driven Audit (AIDA): Delinea debuted AIDA, an industry-first capability that utilises a combination of user activity recognition and AI learning to monitor privileged session recordings and detect potentially dangerous activities.
- MFA at Depth: Delinea introduced Multi-Factor Authentication (MFA) enforcement at depth, including on individual privileged credentials beyond MFA at login. The new layer of security reduces risk for highly sensitive credentials, helping organisations meet increasingly stringent compliance requirements.
Industry recognition and awards in 2023
Delinea was named a pioneer in the Gartner Magic Quadrant for PAM for the fifth consecutive time
Delinea’s strategy, execution, and success were also acknowledged by the industry as the company was the only vendor to be recognised as a pioneer in all five major industry analyst reports for Privileged Access Management in 2023.
Delinea was named a pioneer in the Gartner Magic Quadrant for PAM for the fifth consecutive time, and was also recognised as the Growth Pioneer in PAM by Frost & Sullivan and a Value Pioneer by Enterprise Management Associates.
Other notable accolades
Other notable accolades include:
- Gold award in the 2023 Cybersecurity Excellence Awards category for Cloud PAM
- "Cutting Edge" for Privileged Access Management in the 2023 Global InfoSec Awards
- “Evolutionary Security Solution” for the Delinea Platform in the Future Security Awards 2023
- Fifth consecutive NorthFace ScoreBoard Award for excellence in customer service.
