Manchester-based security software leader Avecto reports a landmark financial year.
With revenue surpassing £23.5 million, it marks a 51% increase over the previous year.
Avecto, headquartered in Manchester, UK, has achieved a record-breaking revenue exceeding £23.5 million for the last financial year. This figure marks an impressive 51% increase compared to the previous year, alongside a 46% rise in booked orders and a substantial 55% growth in new business. Such performance underscores the firm’s resilience and strategic acumen in navigating competitive markets.
The company attributes its success to the powerhouse product, Defendpoint. This award-winning software amalgamates privilege management with application control technologies. It not only mitigates internal and external threats but also maintains compliance, ensuring operational efficiency. Currently, Defendpoint is an essential tool for over eight million users across worldwide giants.
Paul Kenyon, Avecto’s co-founder and co-CEO, remarked on the ongoing innovative strides the company has made. He highlighted the unwavering determination to excel within the privilege elevation and delegation management market.
Over the past year, Avecto has witnessed a significant increase in its workforce by 20%. This strategic workforce expansion aligns with its broader goal of fostering international growth and enhancing its service capabilities.
An investment in talent development has been pivotal in maintaining the firm’s competitive edge. The staff’s commitment to excellence and innovation is reflected in Avecto’s continuous upward trajectory.
To accommodate its growing team, Avecto is enhancing its headquarters located at Trident, Manchester Airport. This includes the provision of additional meeting spaces, work desks, and recreational amenities such as a golf putting green and a Zen garden, offering a holistic work environment for its employees.
These upgrades are part of Avecto’s commitment to providing a dynamic and supportive workplace, further underlining its recognition as one of the UK’s ‘Best Small Companies to Work For’.
In addition to its UK expansion, Avecto continues to strengthen its international footprint with offices in Boston, USA, and Frankfurt, Germany. This robust global presence is a testament to the company’s ambitious expansion plans, aiming to establish a more significant market share worldwide.
As Avecto grows, it seeks larger premises in Frankfurt, reflecting the substantial business success witnessed in that region over the past year.
Celebrating its ninth consecutive year of growth, Avecto anticipates its tenth anniversary with optimism. Paul Kenyon confidently believes the coming year will be another record-breaker, given the current trajectory and recent achievements.
This remarkable journey has not gone unnoticed as Avecto has been lauded by The Sunday Times as one of the UK’s ‘Best Small Companies to Work For’. Furthermore, its inspirational impact on the British economy was recognised by the London Stock Exchange Group.
Avecto’s strategic direction and product innovation promise continued success.
As the company approaches a decade in business, its leadership remains optimistic about future growth.