A First Quarter of Growth



The end of March brought the first quarter of 2016 to a close, and as evident by the press release we distributed yesterday, it was a very strong growth period for us. I’m extremely proud of what our team accomplished over the first three months of the year.

From a financial perspective, we increased annual recurring revenue under contract by 26%, a really strong showing that includes revenue from new customers, as well as growth we saw from current customers. When you factor in our year-over-year revenue growth of 35% from 2014 to 2015, we’re riding a nice wave of momentum. Prospects and customers continue to see the value of RapidIdentity and how it can solve the identity management challenges they’re facing. We consistently hear positive feedback about our solution’s ability to:

  • Transition customers from legacy to cloud-based environments
  • Manage contractors and contingent workers in conjunction with all full-time staff
  • Provide privileged access management
  • Automate identity functions

A driving force behind this revenue growth has been our continued expansion into the education market. We’re working with some of the largest schools in the nation, and in Q1 we added a number of schools to our customer base, including Long Beach Unified School District, Amarillo Independent School District, Gahanna-Jefferson City School District (Ohio), and Community Unit School District 300 (Illinois).

In February we joined the WSIPC Purchasing Program, a relationship that will help bring RapidIdentity to more schools in the western part of the country. WSIPC covers 9 Educational Service Districts, 280 school districts and nearly 730,000 students in more than 1,500 schools. Partnerships such as this enable us to help even more schools evolve their educational experience in a safe and secure way.

Q1 also brought us some great industry recognition with honors from the EdTech Digest Awards and the Info Security Global Excellence Awards.

Our strong revenue growth, further inroads into the education market, and greater industry awareness are a testament to the dedicated efforts of our entire team. The year is off to a great start, and I look forward to our team’s continued success and growth in Q2 and beyond!



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