SailPoint CEO Mark McClain: ‘Continued Acceleration’ Expected Despite Recession Fears
In an interview with CRN, McClain also says that the company’s identity security platform is a ‘true’ SaaS platform, unlike some competing products.
McClain On The Record
The tech industry overall may be paring back on staff in sales and other roles, and some companies in the cybersecurity market have done layoffs as well. But for providers of technologies in the red-hot identity security sector, such as SailPoint, the economic upheaval and fears of a recession are having minimal impact on the game plan, according to SailPoint founder and CEO Mark McClain.
“We’re still planning for continued acceleration and continued market capture,” McClain said in a recent interview with CRN. “While the noisy economy is a little bit of a negative driver, there’s way more positive drivers for us—just the fundamentals of the world moving toward digitally centric business.”
SailPoint, an Austin, Texas-based provider of identity governance and administration (IGA) and other identity security tools, and its solution provider partners are benefiting as more customers recognize that identity is a “critical linchpin” in their digital transformation efforts, he said. Research firm MarketsandMarkets forecasts that the IGA market will reach $7.7 billion this year, more than doubling in size since 2018. Identity and access management (IAM) is expected to grow by 91 percent by 2027, to $25.6 billion, according to the firm.
In August 2022, SailPoint was taken private in a $6.9 billion deal by Thoma Bravo—a private equity investor that last year also acquired Ping Identity and reached a deal to acquire ForgeRock, two other prominent players in identity security. Then in January, SailPoint made an acquisition itself, snapping up third-party identity security vendor SecZetta to bolster its platform.
During the interview, McClain also addressed a recent claim that SailPoint is a “legacy” identity security provider. SailPoint offers a “true SaaS product [built] from the ground up,” he told CRN. “We’re a 17-year-old company, but we’re not legacy SaaS. We’re the most cutting-edge SaaS product in our category.”
McClain also discussed the potential for further consolidation in the identity security space, the biggest opportunities for channel partners looking ahead, the SecZetta acquisition and the prospects of making additional acquisitions.
What follows is an edited portion of CRN’s interview with McClain.