“New Business Norms” and Launch of Web Security Platform Drive Sectigo Double-Digit YoY Sales Growth in Q1 2020
Demand for PKI-based Secure Remote Access, Automated Certificate Lifecycle Solutions, Document Signing and Industry-First Multi-Layered Web Security Products Fuel Company Momentum
Sectigo, a leading provider of digital identity management and web security solutions, announced first quarter growth across all of its business units. Fueled by the debut of the new Sectigo Web Security Platform, enterprise sales grew almost 25% year-over-year (YoY), retail grew almost 15% YoY and channel grew 5% YoY. Sectigo also rounded out the quarter with several product and workplace awards, as well as R&D and sales team expansions to deliver on an aggressive roadmap of automated public and private PKI innovations.
As a result of stay-at-home orders and travel restrictions across the world, Sectigo realized an uptick in sales stemming from the need for businesses to ensure that remote work connections are authenticated and secure. The company also saw increased revenues from enterprises seeking to automate certificate renewal and discovery to bolster their business continuity plans. These additional sales drivers align with data from 451 Research’s “Coronavirus Flash Survey,” in which respondents indicated that they expect to increase spending in several cloud information security areas, including “identity management, authorization, and access control tools” (39%), as well as “encryption/key management” (26%).
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“Even before this pandemic, businesses were realizing the important role digital identities play in the modern enterprise. PKI is the gold standard for ensuring secure identities for all users, devices, and applications,” said Bill Holtz, CEO, Sectigo. “With the workforce adopting the ‘new norm’ of having remote-based environments, we have seen unprecedented demand for our solutions.”
Sectigo highlights in Q1 2020 include:
- Revenue growth – In addition to a nearly 25% increase in YoY enterprise revenue, the company saw more than a 15% YoY increase in retail sales, and more than a 5% YoY increase in channel revenues during the first quarter.
- Product innovation – In February, Sectigo launched Sectigo Web Security Platform and became the first Certificate Authority to introduce a multi-layered web security solution bundled with TLS / SSL certificates. From an all-new comprehensive management portal, customers can automatically identify threats and quickly patch vulnerabilities for their CMS, while automating the discovery and removal of malware found within the code, database, or files on the web server. It also performs website backups with one-click restore along with advanced features to accelerate website performance, including a global Content Delivery Network (CDN) and Domain Name System (DNS), as well as a Web Application Firewall (WAF).
CodeGuard, a subsidiary of Sectigo, surpassed one million website backups performed.
- Enterprise R&D and sales expansion – In Q1 2020, Sectigo released advancements to the company’s Digital Identity Management Platform (Sectigo Certificate Manager), including key management for Microsoft Azure Key Vault. In addition, Sectigo added many new hires to the R&D and enterprise sales teams in order to expand research and innovation, as well as convert increased demand across regions.
- Industry recognition
- Sectigo Web Security Platform was named a “Hottest New Cybersecurity Product” at this year’s RSA Conference.
- The Sectigo IoT Identity Platform was shortlisted by SC Awards Europe in the “Best IoT/IIoT” Security Solution category.
- Sectigo was named a Best Place to Work 2020 New Jersey alongside only ten technology companies in the medium-sized business category. The NJBiz awards recognize the state’s best employers, based on anonymous employee feedback.