Company launches the industry’s first authorization-as-a-service security platform, increases annual recurring revenue by over 50 percent.
PlainID, the Authorization Company, announces its 2022 milestones, including launching the industry’s first Authorization-as-a-Service platform powered by Policy-based Access enabling Identity-First Security while also strategically expanding its global sales and marketing team and growing revenue by over 50 percent.
With its late 2021 $75 million in Series C funding in 2022, PlainID expanded its go-to-market (GTM) strategy, accelerated product development and enabled many organizations to securely govern, administer and control who can access assets across their digital landscape. This was demonstrated with its summer launch of the industry’s first Authorization-as-a-Service platform.
Designed to solve enterprise challenges associated with advanced access control, PlainID’s Platform is architected for the scale and performance demands of the largest global companies and is powered by policy-based access control (PBAC). Additionally, the company added pre-built, third-party PlainID Authorizers, which provide access control for vital authorization enforcement patterns, authorization for API Gateways, Microservices, and data lakes.
“Last year, PlainID made significant headway in high-profile verticals including financial services, government, healthcare and insurance companies,” said Oren Ohayon Haren, PlainID’s CEO and co-founder. “The successful delivery of our Authorization-as-a-Service platform, strategic partnerships and Authorizers resulted in a nearly 40 percent growth in global customers, driven by the continuing rise in breaches and companies needing to protect their assets.”
Throughout 2022, PlainID announced several strategic moves and partnerships contributing to its customer growth, including:
The PlainID Technology Network: Developed with PlainID partners, the Network delivers PlainID’s cutting-edge technology worldwide to help organizations securely transform authorization and access control.
Denodo: Along with Denodo, PlainID enables clients to centrally manage access to data in motion using policy to control access to data in complex enterprise environments.
Dremio – PlainID orchestrates policy-based access control for Dremio by enabling granular control and visibility of the data ecosystem with centralized policies that create, enforce, and manage, including workflow approvals for policy updates.
iC Consult: Positions PlainID as a strategic reseller and systems integrator for PlainID products, providing the necessary expertise required to consult and deliver on authorization requirements for any customer.
PlainID’s sales expansion reflects the company’s continued growth as a recognized leader in authorization. The company’s sales and marketing management team expanded with four industry veterans driving PlainID’s global GTM strategy, including Jeff Tishgart, VP of Global Alliances, Jake Schraufnagel, VP of North America Sales, Julie Kendall, VP of Global Marketing, and Mickey Martin, Director of Product Outreach.
“We are proud of our new members of the PlainID global sales and marketing team. They bring years of experience in cybersecurity and all have the proven track records on what it takes to deliver client success,” stated Tom Ammirati, PlainID’s Chief Revenue Officer. “Overall in 2022, we grew our staff by 65 percent, which positions us nicely to achieve our 2023 goals.”
PlainID was also honored three times in 2022 as the company was named a finalist for the Black Unicorn award and honored as a Cyber Defense Magazine (CDM) Infosec Innovator, and named “Best Solution – Identity & Access Management” in the CDM Global Infosec Awards.
To learn more about how authorization can help organizations, check out PlainID’s Platform demo.
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