Aveksa Begins 2013 with Record-Setting Q1, Continuing Trend of Strong Company Growth
Aveksa, Inc., the provider of the industry`s most comprehensive Business-DrivenIdentity and Access Management platform, today announced outstanding results forthe first quarter of 2013. During the quarter, Aveksa set company records forboth top-line growth and the number of newly-added license customers. Inaddition to recording outstanding financial results, the company also introducedseveral new product innovations to the market.
In Q1 2013, total revenue for Aveksa increased 134% over total revenue for thesame period in the prior year. License and maintenance revenue increased 207%over Q1 2012. The revenue split in Q1 was 79% license and maintenance, and 21%services, demonstrating that Aveksa`s Identity and Access Management solutionsrequire minimal customization and are designed for rapid time-to-implementationvalue.
In addition to adding a record number of new license customers across allverticals and geographies, Aveksa also saw several existing customers makeadditional purchases to expand their footprint and deployment of the Aveksasolution. Following the introduction of cloud-based solutions, Aveksa gainedstrong traction with SaaS-based deals, with several new customers makingmultiple year commitments. Continuing with the rapid growth of the company,Aveksa increased its headcount by over 40% in Q1. The company hired across allfunctions, with emphasis on field resources.
Aveksa`s success in Q1 2013 is just the latest evidence of the incredible growththe company has experienced over the past few years in terms of revenue, companysize, and most importantly, customer acquisition. Customers have cited three keyreasons for selecting Aveksa to automate their Identity and Access Managementprocesses:
- Superior technology that can be verified through extensive technical evaluations
- Better approach to understanding customer needs and mapping them to the required solutions
- Ability to provide a superior experience throughout the customer engagement process
Aveksa also introduced new technology innovations in Q1, further differentiatingitself from competing solutions. In February, Aveksa launched new functionalitythat enables enterprises to monitor and validate changes to Microsoft ActiveDirectory (AD) deployments against access control policies, as well as reconcilechanges with authorized and approved change requests.
Designed to make Identity and Access Management (IAM) more responsive and agileacross the enterprise, Aveksa also announced new capabilities to furtherincrease the business value of a deployed IAM solution. These capabilitiesinclude support for mobile devices and increased scalability, two criticalfeatures that enterprises must consider as key components of their IAM platform.With the introduction of MyAccessMobile, Aveksa’s IAM platform for mobiledevices, Aveksa blazes a new trail as the industry’s first IAM vendor to supportthe business user experience for Identity Management and Governance on smartphones.
“Our success in Q1 is the direct result of flawless execution across everyoperational area of the company. It is truly due to the efforts of all of thefolks who work at Aveksa and their commitment to our customers,” said Vick VirenVaishnavi, President and CEO of Aveksa. “With the addition of new productsolutions such as Active Directory Monitor, MyAccessLive and MyAccessMobile,Aveksa is well-poised to experience continued rapid growth in 2013 as wecontinue to expand both our product footprint as well as our direct and indirectsales channels.”