Saviynt Raises $130M to Further Accelerate Its Growth in Enterprise Identity Security Market Following Record First Half of 2021
Summary
LOS ANGELES--(BUSINESS WIRE)--Saviynt, a leading provider of intelligent identity and access governance solutions, today announced that it has closed $130 million in financing from HPS Investment Partners and PNC Bank after driving record company growth in the first half of 2021. The company will use the additional resources to meet the increasing demand for its cloud-based identity solution by significantly growing its investments in R&D and personnel. The announcement follows the company’s exceptional growth in 2020, which was driven by the market’s continued cloud adoption, increased focus on cybersecurity, support for digital transformation initiatives, and the shift to remote work. Saviynt’s growing leadership position in the market is reflected by its product innovation, Global 2000 customer wins, expansion to new regions, and launching of key strategic partnerships. “Demand for our cloud identity solutions has never been higher as companies continue prioritizing business transformation with a focus on an identity-defined security perimeter to reduce hybrid workforce risks, meet evolving regulations, and protect multi-cloud environments,” said Amit Saha, CEO, Saviynt.
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