SecZetta Continues Growth Trajectory with Strong FY2022

FALL RIVER, Mass. – April 12, 2022 – SecZetta, the leading provider of third-party identity risk solutions, today announced its fiscal 2022 year-end business results, ending January 31, 2022. The company saw an impressive 80% growth in annual recurring revenues (ARR). New customer acquisitions, an expanded partnership roster, industry analyst recognition, and several additions to the company’s senior leadership bench helped to support this growth, which was highlighted by the announcement of a $20.5 million Series B funding round in October 2021. SecZetta also grew momentum abroad and expanded its international footprint by opening its EMEA headquarters in London, England.

“In a year that saw record cyberattacks and third-party data breaches impacting nearly every industry, the need for trusted solutions that address key third-party identity management processes and reduce risk has never been greater. This, paired with the need for key contextual data for third-party workforces to implement zero trust architectures, has made SecZetta a preferred identity solutions provider,” said David Pignolet, CEO and founder of SecZetta.

Moving forward, adds Pignolet, “we see opportunity to expand our business with franchises and other organizations with affiliate networks. By design these organizations are heavily reliant on the use of diverse third-party populations to meet operational needs and struggle with managing the access to systems and data required by these non-employee workers. Our third-party identity risk solution uniquely provides capabilities that offer increased visibility into the franchise or affiliate organization and enable automation of key identity processes for these populations. This a huge benefit.” Pignolet concludes, “We look forward to continuing our growth in this industry and others, and expanding our customer base here and in EMEA, as organizations increasingly recognize the need for a strong identity management program for their third-party populations and the unmatched value proposition we bring to global organizations.”

Expanded Senior Leadership Team

In the last year, SecZetta expanded its senior leadership team to include five dynamic new leaders, deepening its executive bench with added industry expertise:

• Phil Allen, General Manager of EMEA
• Jim Bandanza, Chief Operating Officer (COO)
• Richard Bird, Chief Product Officer (CPO)
• Matt Domsch, Chief Technology Officer (CTO)
• Maiah Lawson, General Counsel

 

FY 2022 Customer Highlights

SecZetta continues to expand its customer base with continued growth in the healthcare industry. Healthcare organizations have experienced significant increases in the use of non-employee workers as a result of the pandemic and ongoing shortage of skilled workers further driving their need for SecZetta’s strong third-party identity management solutions. FY2022 customer wins include:

• Baylor College of Medicine, a private, independent health sciences university and global leader in biomedical education, innovative research, and cure discovery with over 8,500 faculty and staff members and more than 3,500 students, residents and fellows located in Houston, Texas
• Kootenai Health, a 331-bed community owned hospital and physician clinics with a main campus in Coeur d’Alene, Idaho
• San Joaquin General Hospital, a 196-bed public teaching hospital located within the San Joaquin County area of French Camp, Calif.
• Scripps Health, a not-for-profit integrated health care delivery system based in San Diego, Calif. that treats more than 600,000 patients annually through the dedication of 3,000 affiliated physicians and more than 15,000 employees among its five acute-care hospital campuses, home health care services, 28 outpatient centers and clinics, and hundreds of affiliated physician offices throughout the region
• State of Illinois, Department of Innovation & Technology (DoIT), an agency that delivers technology, innovation and telecommunication services to state government agencies, boards and commissions
• Froedtert Health, a Milwaukee, Wisconsin-based, integrated health care system providing a variety of health-related services. The Froedtert & MCW health network includes nine hospital locations, more than 2,000 physicians and more than 45 health centers and clinics.

 

FY 2022 Partner Highlights

SecZetta is pleased to recognize SailPoint as Alliances Partner of the Year.

New Partners and Integrations

SecZetta made significant strides over the last 12 months to expand its partnership and product integration roster in support of the company’s ambitious global growth goals.

New partners include:

• AE Business Solutions, a leading IT and Workforce Management company serving enterprise organizations throughout the Midwest
• Altron Security, a leading identity security services and solutions provider in Africa
• Auth0, a modern identity platform that enables organizations to provide secure access to any application, for any user
• Carahsoft Technology, the Trusted Government IT Solutions Provider®, supporting Public Sector organizations across Federal, State and Local Government agencies and Education and Healthcare markets
• Deloitte, world’s largest consulting firm
• ePlus, leading security technology advisor and integrator with a broad solutions portfolio, strong industry relationships and demonstrated engineering talent and expertise
• EY, a global professional services organization. EY Identity and access management (IAM) services help EY clients to manage the lifecycle of digital identities for people, systems, services and users.
• ForgeRock, a global leader in digital identity that delivers modern and comprehensive identity and access management solutions for consumers, employees, and things to simply and safely access the connected world
• IC Consult, the largest vendor-independent system integrator for IAM solutions
• Identity & Access Solutions, a leading provider of top technology talent for the Identity and Access Management (IAM) community
• IMagosoft, Canadian based identity management solutions integrator with a focus in the western regions
• Legion Star, a professional services firm focusing on Identity Management, Cloud, and ERP Consulting
• MajorKey brings together over 420 technical, sales and delivery specialists to focus on helping its public and private sector clients unlock the benefits of cloud-enabled digital transformation
• MorganFranklin, a leading management and technology advisory firm that specializes in solving complex transformational challenges for its clients
• Okta, the leading independent identity provider, with more than 7,000 pre-built integrations to applications and infrastructure providers.
• SecureLink, the leader in third-party security, providing secure third-party remote access for both highly regulated enterprise organizations and technology vendors
• Strivacity, a software company providing turn-key Customer Identity and Access Management (CIAM) solutions to brands selling their products and/or services in the digital marketplace
• Synnex, a leading IT design-to-distribution business process services company

 

New Integrations include:

• CyberArk, the global leader in Identity Security
• Ideiio, an Identity Governance and Administration solution that is cost effective, quick to deploy and incredibly easy to manage
• One Identity, a unified identity security platform enables users to protect what is essential: their people, applications and data
• Prevalent, the company that takes the pain out of third-party risk management (TPRM)

 

Proprietary Research Findings

In August 2021 SecZetta released findings from a proprietary omnibus survey of more than 2,000 US adults to gauge consumer opinion about the onslaught of high-profile cyberattacks and determine Americans’ confidence in the ability of organizations and government agencies to prevent these attacks from happening. Key findings from the survey include:

• 83% of respondents agree that because organizations increasingly rely on contractors, freelancers, and other third-party workers, their data systems have become more vulnerable to cyberattacks
• 88% of U.S. adults say organizations and government entities must have better data security systems in place to protect them from the increase in third-party remote attacks
• 53% of respondents lack confidence in the strength of the U.S. government’s infrastructure to protect citizens from cyberattacks.

 

Industry Analyst Recognition

In September 2021, SecZetta was included in Aite-Novarica Group’s Insider Threat Report, “Enemy Inside the Gates: The Resurgence of the Insider Threat.” The report helps organizations understand emerging insider threat considerations and references SecZetta as a company offering solutions that deliver insider threat detection capabilities.

Third-Party Identity Risk Maturity Assessment Launched

As organizations increase system and data access to a greater number and diversity of third-party users, it is more important than ever to ensure that best practices are automated, and the risks associated with these users are mitigated. The SecZetta 2022 Third-Party Identity Maturity Assessment helps organizations better understand their level of maturity in managing third-party identity lifecycle and risk through a self-evaluation of current practices. Upon completion of the assessment, participants receive a complimentary, custom report with actionable insights that provides a baseline to measure future progress.