Centrify Momentum Fueled by Digital Transformation Including Secure Cloud and DevOps Acceleration

Double-digit year-on-year, quarterly growth empowered by solidified partner ecosystem, delivery of market-defining product innovations, and industry analyst recognition of market leadership.

Centrify, a leading provider of Identity-Centric Privileged Access Management (PAM) solutions, announced significant sales momentum across all regions and industries as organizations seek to secure privileged access to an increasingly decentralized modern attack surface driven by digital transformation.

Centrify saw double-digit year-on-year growth in Q3 2020 compared to the same period in 2019, led by strong new business bookings and competitive replacements. The company has seen significantly increased bookings in international markets and the U.S. public sector throughout the past 12 months. In addition, Centrify unveiled a consistent stream of product innovations, solidified new relationships with a number of key distribution and channel partners, experienced an upward trend in customer deals and new logo additions, and was recognized for its market leadership by notable industry analyst groups.

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“This year has presented a challenging environment for organizations across all industries around the world, as new attack vectors are emerging and security is more critical than ever before. Even in the midst of the pandemic, our team has worked tirelessly to serve the PAM needs of modern IT environments and support market-leading IT teams in their efforts to secure privileged access,” said Flint Brenton, President and CEO of Centrify. “Our recent research shows that since March 2020, nearly half of organizations have accelerated their cloud transformation efforts. In response, we have continued to increase the availability and flexibility of our solutions so they can be utilized both in the cloud and with traditional infrastructure, while also expanding our capabilities to build security into the DevOps pipeline.”

Centrify Summer Product Release Innovations for Hyper-scale, DevOps

Over the past six months, Centrify unveiled a consistent stream of product innovations to address customer needs. In Q2 2020, the company released version 20.3 of Centrify Privileged Access Service (PAS), which included:

• Client-Based Password Reconciliation ensures that passwords in the vault always match those on the target resource without interruption, once the Achilles heels of traditional password vaults
• Delegated Machine Credentials support “infrastructure as code” to seamlessly incorporate PAM into the DevOps pipeline, significantly reducing the attack surface
• Hyper-Scalable PAS revolutionizes the traditional approach to customer-managed environments by offering a “shared-nothing” architecture with all the benefits of Software-as-a-Service (SaaS)

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Partner Ecosystem Cohesion Drives New Customer Growth

Centrify announced its Reliance Partner Program earlier this year, and has signed on new distribution and channel partners around the world, including Arrow ECS in EMEA and Australia/New Zealand and Carahsoft Technology Corp. for U.S. public sector. The company also strengthened and expanded relationships with global system integrators (GSIs) PwC and Deloitte.

“The public sector is one of many industries that took major staffing hits in 2020. With cybercrime quadrupling during the pandemic and trimmed down IT teams scattered between home and offices, these organizations are more prone than ever to internal and external privileged access risks,“ said Michael Shrader, Vice President of Intelligence and Innovative Solutions at Carahsoft. “By offering Centrify’s PAS based on Zero Trust principles, we are helping our government customers centralize and orchestrate fragmented identities; improve audit and compliance visibility; and reduce risk, complexity, and cost. We are proud to partner with Centrify and our reseller partners to help secure the public sector and look forward to extending this great momentum into 2021.”

Centrify Solidifies Privileged Access and Identity Management Leadership

In August 2020, Gartner published its second Gartner Magic Quadrant for Privileged Access Management. In addition to being named a Leader once again, Centrify believes that the report validates the flexibility of its cloud-architected SaaS-based solution and support for modern cloud identity infrastructures that empower federated access.

Centrify was also most recently named a Leader in the 2020 Forrester Wave for Privileged Identity Management (PIM). Centrify received the highest possible score in seven of the 24 evaluation criteria and was the only vendor to receive the highest score possible (5.00) for the “Least privilege access control” criterion. The Centrify vendor profile in the report summarizes, “Centrify leverages SaaS, shifts focus to DevOps and cloud PIM.”

Centrify’s innovative new cloud-ready password vault capabilities and expanded PAM offerings also led to a flood of new customers in the third quarter, looking to capitalize on the reliability and flexibility of cloud architecture. This aligns with its latest study that revealed 1) maintaining flexibility and security for remote workforces and 2) digitizing more processes using cloud-native services, as IT professionals’ top modernization priorities for the next 12 months.