Aveksa Continues Strong 2012 Momentum with Solid Q3 Performance
Aveksa, Inc., the leading provider of Business-Driven Identity and Access Management solutions, today announced that the company continues to experience significant growth in 2012 following solid performance in Q3. Aveksa attributes this growth to continued strong market demand for its business-driven Identity and Access Management software solutions, solid execution across all lines in the company and Aveksa's expanding global presence.
In Q3 2012 Aveksa experienced tremendous revenue growth. Total Q3 2012 bookings increased 224% over Q3 2011 bookings and increased 50% over Q2 2012 bookings. License and maintenance bookings made up approximately 75% of total bookings and services made up approximately 25% of total bookings. The number of transactions in Q3 2012 increased 167% over Q3 2011 with several new customer wins and several existing customers purchasing new modules and/or additional users.
Numerous new customers went live with the Aveksa solution in Q3, increasing the percentage of customers in production to 90%. In fact, over 80% of these customers are live with the latest version of the Aveksa platform, demonstrating the ability to deploy new systems or migrate existing systems without requiring extensive consulting services.
In addition to its impressive operational performance in Q3, Aveksa continued its strong track record of introducing technology innovations to the Identity and Access Management market. During the quarter, Aveksa introduced new IAM capabilities for cloud computing. Aveksa also launched solutions that extend Identity and Access Management user context information into other key security areas.
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. Unlike competing approaches, Aveksa's solution unifies the management of identities and access across internal and external environments, without compromising visibility and control.
In September, Aveksa announced new capabilities that enable enterprises to utilize Identity and Access business context across a wider range of IT security areas. These new products leverage Aveksa's unique Security Integration Fabric™, enabling enterprises to extend Identity and Access business context across many IT security-related areas. For example, Aveksa's Identity and Access Management (IAM) solutions can now provide bi-directional interoperability with Security Information and Event Management (SIEM) systems, such as the HP ArcSight Security Intelligence platform.
To support the company's rapid expansion, Aveksa relocated to a new corporate headquarters office in Q3. The new facility, located in Waltham, Massachusetts, more than doubles the space of Aveksa's previous headquarters and includes a state-of-the-art performance engineering and scalability benchmarking lab. Employees working in the new Aveksa headquarters represent all operational areas of the company, including sales, marketing, finance, engineering, product management, quality assurance, services and support. Aveksa's headcount has increased 52% since the beginning of FY 2012 with staff expansions in sales, engineering and field operations across the United States, Canada, EMEA and India. The company currently has many open positions – interested candidates should visit the Aveksa jobs page for the complete list.
“The leading indicator of success for a software company is its rate of growth,” said Vick Viren Vaishnavi, President and CEO of Aveksa. “In Q3 Aveksa had many proof points of continued rapid growth, including a 167% increase in the number of customer transactions, expansion of our Identity and Access Management product line and a significant increase in the number of Aveksa personnel which led to the company relocating to a much larger corporate headquarters. This is a very exciting time for the company, and in the coming year we look forward to scaling the company even further.”
Click here to see a short video about Aveksa's unique business-driven approach to Identity and Access Management, and how it differs from competing solutions.
Aveksa is the leading provider of Business-Driven Identity and Access Management solutions. Through its business-driven approach, the Aveksa platform provides a robust way for organizations to shift the accountability and responsibility for making access decisions away from Information Security, and out to the line of business, while enforcing policies and maintaining oversight. Aveksa achieves this by managing the complete lifecycle of user access to information resources through an automated, continuous process for access request, approval, fulfillment, review, certification and remediation. With Aveksa, IT organizations can reduce Access Management complexity and increase operational efficiency while minimizing risk and ensuring sustainable compliance. Many Global 2000 organizations in financial services, healthcare, retail, energy/utility, telecommunications, transportation, manufacturing and other industries rely on Aveksa to efficiently address their Identity and Access Management demands. For more information, visit www.aveksa.com/.
Tedd Rodman, 781-487-7700 x-117