Recognition comes amid rapid company growth and key milestones
SALT LAKE CITY – February 27, 2024 – Venafi, the inventor of machine identity management, has been named to the 2024 Inc. 5000 Regionals: Rocky Mountain list of the fastest-growing private companies in America. The list represents a unique look at the most successful companies within the Rocky Mountain economy’s most dynamic segment – its independent businesses.
This recognition follows on the heels of several notable milestones for Venafi, including more than 150% year-over-year growth in its global Software as a Service (SaaS) business, recognition on Inc.’s 2023 Best in Business list, the appointment of a new Chief Executive Officer and the launch of its industry-first Stop Unauthorized Code Solution. The recent momentum underscores Venafi's mission to future-proof the Global 5000 by delivering modern SaaS solutions and demonstrates Venafi’s rapid growth during a critical time for the cybersecurity industry.
“At Venafi, we are hyper-focused on helping organizations better protect against the emerging cyber threats of tomorrow through modern machine identity management,” said Patrick Dennis, chief executive officer at Venafi. “There is a massive opportunity to help solve complex cybersecurity for enterprises today, and we are excited to be leading the charge. We are proud to be recognized on this Inc. Regionals list for our company’s growth, especially at a time when machine identity management is so critical to organizations globally.”
The companies on this list show a remarkable rate of growth across all industries in the Rocky Mountain region. Between 2020 and 2022, these 72 private companies had an average growth rate of 122.44 percent; by 2023, they’d also added 3,838 jobs and $1.7 billion to the region’s economy.
“The honorees in our Inc. 5000 network are the Who’s Who of private companies. They’re energizing regional economies as they engineer the future of their industries. Learn who they are and what they do — they’ll be impacting things for a while,” said Eric Hagerman, Special Projects Editor at Inc. Media.
Methodology
The 2024 Inc. 5000 Regionals are ranked according to percentage revenue growth when comparing 2020 and 2022. To qualify, companies must have been founded and generating revenue by March 31, 2020. They had to be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2022. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2020 is $100,000; the minimum for 2022 is $1 million. As always, Inc. reserves the right to decline applicants for subjective reasons.
About Venafi
Venafi is the cybersecurity market leader in machine identity management. From the ground to the cloud, Venafi solutions manage and protect identities for all types of machines—from physical and IoT devices to software applications, APIs and containers. Venafi provides global visibility, lifecycle automation and actionable intelligence for all machine identity types and the security and reliability risks associated with them.
With more than 30 patents, Venafi delivers innovative machine identity management solutions for the world's most demanding, security-conscious organizations and government agencies, including the top five U.S. health insurers, top five U.S. airlines, top four payment card issuers and top four U.S. banks. As a leading provider of open source machine identity management solutions, Venafi is the creator of the open source cert-manager project, which is downloaded more than 1.5 million times a day. For more information, visit https://venafi.com.
About Inc. Media
The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers and the credibility that helps them drive sales and recruit talent.
The associated Inc. 5000 Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.