Access Governance and Management Leader Doubles Customer Base; Drives Adoption across New Industries and Expands Global Reach
WALTHAM, MA—January 14, 2010—Aveksa, Inc., the market-leading provider of enterprise access governance and management solutions, today announced that it achieved record growth and business momentum in 2009. Based on increasing demand for the Aveksa 4.0 Enterprise Access Governance Platform, Aveksa doubled its customer base last year, with a corresponding growth rate in its license and maintenance bookings year over year. Demonstrating its sustained growth and rapid customer adoption, Aveksa’s 2009 billings were greater than 500 percent higher than in fiscal year 2007. The company also achieved two quarters of operating income in the year, exiting the year with a very strong balance sheet, and is well-positioned to drive its dynamic growth agenda.
Three years after bringing the first enterprise access governance solution to market, Aveksa continues to set the innovation benchmark for the industry. In 2009, Aveksa added customers in new industries such as aerospace and defense, entertainment, pharmaceutical and telecommunications, and increased adoption of its solutions across the energy, financial services, insurance, healthcare, manufacturing and transportation industries. The company added 10 new large enterprise customers in the fourth quarter of 2009 alone and now has more than 18 Fortune Global 500 companies as customers. Aveksa also continued to close large enterprise customers, including a 500,000-user deployment by one of the largest banks in the world. It also expanded its global reach with new customers in Europe and South America, and partnerships in Asia, Europe and South Africa.
“Aveksa’s record growth and customer adoption in 2009 strongly validates our success in delivering innovative solutions that simplify access change management and compliance while reducing operational expense,” said Arun Oberoi, CEO of Aveksa. “We feel fortunate to be working with great business partners and customers who are deploying our solutions on an unprecedented scale to deliver strategic business value. We are well poised for an even stronger 2010.”
Aveksa introduced the Aveksa 4.0 Enterprise Access Governance Platform in 2009 to meet the growing demand for solutions to help organizations more efficiently govern user access. Today, 60 percent of Aveksa’s customer base has purchased multiple modules of the platform to govern and manage user access to information resources. The platform is comprised of Aveksa Access Request and Change Manager, which combines a business-centric user interface and a streamlined request and fulfillment process with embedded policy controls to ensure appropriate access; Aveksa Compliance Manager, which automates the monitoring, certification, reporting and remediation of user entitlements; and Aveksa Role Manager, which enables role discovery, modeling and maintenance.
Aveksa raised $10 million in Series C funding in 2009 to expand its global operations, sales, marketing and product development efforts. In addition, the company expanded full-time staff by 16 percent year over year.
Aveksa was also widely recognized in 2009 for its innovative technology and business success through multiple industry awards. Aveksa was selected by Everything Channel as a CRN Emerging Technology Vendor for its innovation and easy-to-use technology and was named an AlwaysOn East 100 award winner for its technology innovation, market growth and customer traction.
About Aveksa
Aveksa provides the industry’s most comprehensive, enterprise-class, access governance and management solution. Aveksa enables organizations to manage the complete lifecycle of user access to information resources through an automated, continuous process for access request, approval, fulfillment, review, certification and remediation. Aveksa helps IT organizations reduce access management complexity and increase operational efficiency while minimizing risk and ensuring sustainable compliance. Leading Global 2000 organizations in financial services, healthcare, retail, energy/utility, telecommunications, transportation and manufacturing rely on Aveksa to efficiently address access request, fulfillment and regulatory compliance demands. For more information, go to www.aveksa.com.
