PHOENIX, January 29, 2020 – Prevalent, Inc., the company that transforms how you manage third-party risk, today announced a strong fourth quarter with over 88 percent worldwide sales growth, and 170 percent customer growth, setting the stage for significant expansion in 2020.
Prevalent’s 2019 highlights include:
- The appointment of Kevin Hickey to chief executive officer. Hickey has led multiple companies through large-scale growth, holding CEO positions at eEye Digital Security, NetPro Computing, Homebid.com and BeyondTrust. Brad Hibbert, Brendan Evers and Mike Yaffe also joined the executive team in the roles of chief strategy officer, chief revenue officer and chief marketing officer respectively.
- The acquisition of UK-based 3GRC. With this acquisition Prevalent delivers world-class third-party risk management solutions while expanding its presence to the UK. Customers have access to the most comprehensive, single-view third-party risk management platform, with the most standardized questionnaire options available, and fully-integrated continuous monitoring for a 360-degree view of risk.
- Recognition as a “visionary” in the Gartner Magic Quadrant for IT Vendor Risk Management for IT Vendor Risk Management Tools. According to Gartner, “Visionaries have a solid understanding of the market, and can affect the course of technological developments in the market. They are actively progressing against an aggressive product roadmap that extends support to additional regulatory and nonregulatory compliance and risk management needs, including support for the integration of IT VRM with IRM.”
- Named the Gold Winner for Vendor Risk Management in the 2019 Cybersecurity Product Awards category, for offering the only comprehensive solution for managing vendor risk.
“2019 was a big year for Prevalent,” stated Hickey. “We spent the first half of the year building a team and strategy for success, and the second half executing on that strategy. Although it was extremely rewarding to finish the year strong, there is much more work to do. As companies recognize the need for a comprehensive third-party risk management program, we are in a position to drive greater adoption with our award-winning solution and lead the market.”
Prevalent helps enterprises manage risk in third-party business relationships. It is the industry’s only purpose-built, unified platform that integrates a powerful combination of automated assessments, continuous monitoring, and evidence sharing for collaboration between enterprises and vendors. No other product on the market combines all three components, providing the best solution for a highly functioning, effective third-party risk program. To learn more, please visit www.prevalent.net.