Prevalent Closes H1 2023 with Record-Setting Revenue Growth

Three Quarters of All New Customers Leverage Continuous Monitoring with Assessments, Demonstrating the Unique Value of Prevalent’s Comprehensive TPRM Solution
July 17, 2023
News q3 momentum 1021

PHOENIX, AZ – July 17, 2023 Prevalent, Inc., the company that takes the pain out of third-party risk management (TPRM), today announced a record-breaking start to 2023 with tremendous customer traction and revenue growth. Continuing momentum from Q1 2023, Prevalent:

  • Grew new business billings 51% over H1 2022, driven by a strong mix of new logos and existing customer expansion
  • Increased annual recurring revenue (ARR) by 28% over H1 2022
  • Achieved a 73% attachment rate of new customers purchasing Vendor Threat Monitor, further validating that organizations want a single solution for assessment and continuous monitoring

“We have continued to grow at a remarkable rate year over year,” stated Kevin Hickey, CEO of Prevalent, Inc. “The team has done an exceptional job not only getting ahead of changes in the market, but also delivering innovative solutions to meet customer requirements in this dynamic environment. As regulatory requirements expand and security incidents continue to grow, we are committed to providing the most comprehensive TPRM platform to help organizations reduce risk and maintain the highest level of resiliency.”

In H1 2023 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,