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10 Hot Cybersecurity Companies To Watch In 2020

Many of the industry's fastest-growing vendors will have their hands full in 2020 integrating major acquisitions, completing their first year as a publicly-traded company, or rolling out new partner programs and technical capabilities.

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CyberArk in 2019 revised its partner program tiers to focus solely on certifications and unveiled new training modules to help solution providers deliver pre-sales support. The Newton, Mass.-based privileged account management vendor’s 400 channel partners were sorted into three tiers based solely on the number of certified employees they have in sales, pre-sales and delivery engineering.

More than 65 percent of CyberArk's business flows through the channel today, with pretty much all of the company's newer customers embracing an indirect sales motion regardless of their size. A tighter relationship with the channel has fueled a nearly 30 percent increase in year-over-year revenue for CyberArk in the first three quarters of 2019 to $304 million.

Wall Street loves what it’s seen from CyberArk in 2019, with the company’s stock price for the year catapulting up 61.2 percent to $117.22 per share on a valuation of $4.44 billion. CyberArk has also increased its headcount by 17 percent over the past year to 1,355 people, with the most aggressive hiring occurring in the engineering and business development departments.

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