Record results for Avecto as sales surge
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SECURITY software company Avecto has capped off another successful year with a set of record results.
The Cheadle company, which also has offices in the US and Australia and was a winner in last year’s EY Northern Entrepreneur of the Year Awards, reported operating profit of £3.745m on revenues of £14.675m.
Avecto has developed a Windows-based application called Privilege Guard. More than four million people use its services around the world and customers include seven of the world’s biggest banks, nine aerospace companies and three F1 teams.
In the past year, the company has expanded its operations into the DACH region with an office in Frankfurt, Germany. There has also been significant investment in marketing over the last financial year, with the company undergoing a rebrand and launching its new security suite, Defendpoint, a security offering which defend against advanced cyber-attacks.
Avecto has seen significant demand for its Defendpoint suite from organizations across the globe, and currently works with a diverse range of enterprise customers. Its customers include some of the world’s largest companies across finance, government, healthcare, manufacturing and industry sectors.
Paul Kenyon, co-founder, said: “Our success has been driven by continuous innovation and a compelling long term vision. Our Defendpoint software offers something that no other security vendor has been able to create, which is reflected in our record sales figures. The whole team deserves great credit for these excellent results.”
In the next year, Avecto is predicting another year of record growth, as it continues to scale up all areas of the business to meet the growing demand from organisations across the globe.
The firm, which has thus far received no external investment, is now eager to sustain the growth that saw it named as one of fastest growing tech business for the last two years, aaccording to Deloitte’s Fast 50 ranking.
Mark Austin, co-founder, added: “Looking at the results on paper it’s been an incredible year, but it feels like we’re just getting started. We have an exciting and ambitious future vision and product roadmap, which will ensure that Avecto continues to be seen as one of the major innovators in the next wave of endpoint security solutions. I have no doubt that we will exceed our goals once again over the coming year.”
