Latest Report: The 2022 Gartner® Market Guide for IT Vendor Risk Management Solutions

Prevalent Closes 2022 with Record Year as Demand Continues to Escalate

TPRM leader significantly grows new customer and annual recurring revenue
January 09, 2023
News q1 2021 momentum 0421

PHOENIX, January 9, 2023 – Prevalent, Inc., the company that takes the pain out of third-party risk management (TPRM), today announced a breakout performance year with outstanding annual recurring revenue growth and customer traction. Expanding on the company’s momentum from the first half, Prevalent:

  • Grew new logo billings by 67% over 2021
  • Increased annual recurring revenue (ARR) by 33% over 2021
  • Maintained a gross retention rate exceeding 90% demonstrating extremely high levels of customer satisfaction

“I’m so impressed with our team’s accomplishments in 2022 and look forward to starting the new year strong,” stated Kevin Hickey, CEO of Prevalent. “As companies continue to face new third-party risks and supply chain challenges due to continued cyberattacks and an unstable economy, we are committed to driving innovation, ensuring companies have the best solution available for staying resilient against today’s third-party threats and business disruptions.”

In the second half of 2022, Prevalent:

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 and suppliers throughout the third-party risk management 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