Third-Party Risk Management Leader Kicks Off 2021 with Record-Breaking First Quarter
PHOENIX, AZ – April 28, 2020 – Prevalent, Inc., the company that takes the pain out of third-party risk management (TPRM), today announced that on the heels of an excellent 2020, the company achieved a record-breaking first quarter of 2021. In Q1 2021, Prevalent:
- Grew its new customer business by 111% over Q1 2020
- Grew its existing customer add-on/expansion business by 53% over Q1 2020
- Grew Vendor Threat Monitor revenue by nearly 20x over Q1 2020
“After finishing an exceptional 2020, I’m thrilled to see the continued success and momentum in 2021,” stated Kevin Hickey, CEO of Prevalent, Inc. “It’s clear from our first quarter results that companies continue to choose Prevalent to build or expand their third-party risk management programs, and are turning to us to unify their assessment and continuous monitoring for closed-loop risk correlation and reporting in the face of growing numbers of security incidents, compliance problems and supply chain failures.”
In Q1 2021, Prevalent:
- Introduced free third-party risk monitoring, providing companies with continuous business and financial insights to supplement current TPRM programs and fill gaps left by legacy cybersecurity scoring tools.
- Expanded the Prevalent Third Party Risk Management Platform, enhancing the solution across every stage of the vendor risk lifecycle.
- Developed a free Procurement Risk Playbook, helping companies better align procurement and IT security to minimize third-party risks.
- Delivered the definitive guides on third-party risk management and vendor risk management to help companies build, grow and mature their programs using industry best practices.
To learn more about how customers are utilizing Prevalent to manage vendor risk across the enterprise, please see the ITV and National Savings and Investments case studies. For additional information on the Prevalent Third-Party Risk Management Platform, please visit the Prevalent website.
About Prevalent
Prevalent takes the pain out of third-party risk management (TPRM). Companies use our software and services to eliminate the security and compliance exposures that come from working with vendors, suppliers and other third parties across the entire vendor risk lifecycle. Our customers benefit from a flexible, hybrid approach to TPRM, where they not only gain solutions tailored to their needs, but also realize a rapid return on investment. Regardless of where they start, we help our customers stop the pain, make informed decisions, and adapt and mature their TPRM programs over time.
Media Contact
Angelique Faul, Silver Jacket Communications, 513-633-0897, angelique@silverjacket.net