Saviynt, an identity and access governance solutions provider, has closed a $130 million financing round. HPS Investment Partners and PNC Bank led the funding round, which brings Saviynt total financing to $170 million.
Saviynt's latest funding round comes after the company achieved the following milestones:
- 295 percent growth rate since 2019.
- 184 percent year-over-year increase in bookings of its Cloud PAM, Application Access Governance, Third-Party Access Governance and other emerging new products as of September 2021
- 64 percent year-over-year increase in new product bookings in the first half of 2021
- Acquisition of new customers at a rate of 48 percent year over year in the first half of 2021
Also, Saviynt expanded its partner program in the first half of 2021. In doing so, Saviynt delivers its Enterprise Identity Cloud platform via technology integrations, managed services and implementation partners.
What Is Saviynt's Enterprise Identity Cloud Platform?
Enterprise Identity Cloud combines multiple identity management capabilities into a single platform, Saviynt said. It unifies controls and risk management for every identity, application and cloud across an organization.
Organizations can use Enterprise Identity Cloud to onboard people, apps and machines in minutes and turn on access and governance functionality as needed, Saviynt noted. They can configure Enterprise Identity Cloud without code and use industry integrations, templates and control libraries to deploy the platform in weeks.
Enterprise Identity Cloud also leverages a compliance framework, Saviynt indicated. It offers automated controls monitoring and other capabilities to help organizations meet current and evolving compliance mandates.