CyberArk Ups Privilege Access Efforts, Joins Microsoft
Zacks Investment Research | Jul 17, 2019 10:02PM ET
CyberArk (NASDAQ:CYBR) recently announced the expansion of its strategic association with Microsoft (NASDAQ:MSFT) , by becoming part of the Microsoft Intelligent Security Association, which helps customers secure infrastructure against privilege-related cyberattacks.
Reportedly, CyberArk will be the first privileged access security member of the Association, delivering flexible security solutions for privileged credentials in the cloud and mitigating privilege-related risks. These solutions will allow CyberArk’s customers to easily roll out the CyberArk Privileged Access Security Solution with Azure. Other notable members of the Association are Symantec (NASDAQ:SYMC) and Zscaler (NASDAQ:ZS) .
The company also announced new partner enablement programs to boost business opportunities across the CyberArk Partner Network. With more than 400 partner organizations, the network addresses critical privileged access security challenges.
Privileged Access Security: A Key Growth Driver
CyberArk is growing rapidly in the security market on the back of its privileged access management solutions, which offers customers a set of products to help them secure, manage and monitor privileged account access and activities.
Notably, increasing demand for privileged access security on the back of digital transformation and cloud migration strategies is a key growth driver. Its Privileged Access Security platform has been adopted by major companies, including Barclays (LON:BARC), Novartis, Orange, PWC and Qualcomm (NASDAQ:QCOM).
During the first quarter of 2019, existing customers of the Privilege Access Security programs represented more than 60% of revenues as they expanded deployments with CyberArk. Moreover, the company was the only privileged access security program vendor for a Fortune 100 financial services firm.
CyberArk Software Ltd. Revenue (TTM)
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