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Simeio Accelerates Managed Identity Services Revenue Growth With a 55% Increase in New Client Acquisition in 2021

Sep 19, 2022

ALPHARETTA, Ga., Jan. 20, 2022 (GLOBE NEWSWIRE) — Simeio, a leading provider of Managed Identity Services in the cybersecurity industry announced that it achieved significant momentum in 2021 and has executed noteworthy initiatives to propel growth in 2022. Through new customer acquisitions, scaling the capabilities of its Identity Orchestrator (IO) platform and service delivery, Simeio advanced its offerings for its clients, to protect risks associated with identity and access.

The company generated remarkable revenue through a 55% increase in new client acquisition in 2021. Sales bookings increased exponentially by 74% in its existing geographies, including North America, the UK, and Europe, driving 35% higher EBITDA than projected. Simeio also expanded its footprint in healthcare, fintech, and the public sector, with Identity Governance and Administration and Privileged Access Management continuing to remain the top performing service offerings in 2021. Factors leading Simeio to these new wins were the ability to respond fast to client needs and changing environments, deliver high-quality services, and existing reputation. Major business drivers included the rising awareness of the role of identity and access in managing the security posture of organizations, the sophistication of breaches that directly involve identity, and increased government regulations around cybersecurity.

“Enterprises are accelerating their focus on identity, with zero trust as the driver,” states Chris Schueler, CEO, Simeio. “This pivot is the outcome of the executive order from the current administration that mandates all federal agencies to have a zero trust architecture. With increased sophistication in breaches and attacks, enterprises support and understand the relevance of this executive order and thus have become highly focused on zero trust. We have witnessed that it’s a priority for virtually all companies we engage with.” 

To optimize its managed identity services platform, Identity Orchestrator, Simeio added next-generation application onboarding capability as a service. With this new service, enterprises can access a self-service platform to onboard applications three times faster and save costs up to 80%. As a multifaceted process and often difficult to manage, identity management involves a complex ecosystem involving many technologies and tools. Simeio successfully supported more than 100 organizations in 2021 in streamlining, simplifying, and saving costs in their digital transformation engagements.

People strategy was a key focus for Simeio in 2021. The company announced that three new C-level positions were formalized and onboarded to grow the company in 2022. Asif Savvas, serving as Senior Vice President for Product & Engineering has been named as the Chief Product Officer. In this role, Asif will lead and design service offerings leveraging innovation and automation to provide world-class services to enterprises. Anshuman Chakravartty, serving as the Executive Vice President, Client Success, will now be Chief Customer Officer to boost customer experience and success, and Dana McCormick has been hired as Chief Human Resources Officer to grow Simeio’s people and culture.

“Last year was about achieving excellence in delivery and serving the market needs, which was witnessing immense transformations. Based on those experiences and observations, for 2022, we designed and executed strategies to accelerate our growth in client experience, people, and innovation,” said Chris Schueler. “I am confident and looking forward to the transformations these leaders will bring that will help us exceed client expectations consistently.”

Simeio plans to continue its momentum in 2022 with enhancements of its IO capabilities, driving efficiencies in delivery through talent growth and DevOps automation. The company also plans to offer new services, in identity remediation, identity monitoring, and convergence, to combat the increasing risk enterprises expect to experience in multi-cloud environments. These services would combine IAM controls, policies, programs, and data for enterprises to ease, and simplify identity and access protection for security and risk professionals.

About Simeio

Simeio is an award-winning global managed services provider offering Identity and Access Management solutions delivered as a service and interoperable with leading IAM tools. With 700+ employees worldwide, Simeio secures over 160 million identities globally for large enterprises and government entities. Services and solutions from Simeio include Customer Identity & Access Management, Privileged Access Management, Identity Proofing, Access Management & Federation, Identity Governance & Administration, Application Onboarding, and Simeio Identity Orchestrator. The company has been recognized for its business and technical leadership and highly rated by Gartner, Forrester, and KuppingerCole, and was ranked by Great Places to Work®.

For more information – visit www.simeio.com

For the latest developments follow Simeio on LinkedIn, Twitter, Facebook, and Instagram

Media Contacts:

Mahua Chatterjee
mchatterjee@simeio.com
404.882.3700

Published 19.09.2022

Updated 19.09.2022

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