The leader in third-party risk management heads into Q4 after three record-breaking quarters
Prevalent, Inc., the company that takes the pain out of third-party risk management (TPRM), today announced tremendous customer traction and revenue growth so far in 2023. Through the first three quarters of 2023, Prevalent:
- Has grown significantly, driven by 71% year-over-year existing customer expansion
- Grew partner-sourced bookings by 37%
- Increased annual recurring revenue (ARR) by 26% over the same period in 2022
“Despite a challenging economic environment and shrinking technology budgets, we’ve continued to grow at a rapid rate,” stated Kevin Hickey, CEO of Prevalent, Inc. “As regulatory requirements expand and third-party cybersecurity incidents continue to dominate headlines, companies are investing in the Prevalent Platform to help reduce their risk. We will continue to deliver innovative technology and recommendations to help organizations navigate today’s evolving risk landscape. We look forward to a strong finish to 2023 over the next three months.”
In Q3 2023 Prevalent:
- Set the standard for understanding how AI impacts third-party risk with recommendations on leveraging the NIST AI Risk Management Framework, AI security questions to ask vendors, the risks of using AI, where to get more information on AI and ML, and how to use AI in TPRM use cases.
- Published updated third-party risk management guidance on the forthcoming NIST Cybersecurity Framework 2.0, SEC Cybersecurity Disclosure Rules, and Canada OSFI B-10.
- Provided a free assessment to the risk management community to help organizations understand the third-party impact of the Citrix NetScaler zero-day vulnerability.
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