• Okta for identity governance: While Okta specializes in enabling secure user access (like single sign-on and multi-factor authentication), SailPoint focuses on the deeper layer of ensuring *who* should have access to *what* resources, for how long, and verifying compliance.
• Workday for digital access permissions: Just as Workday manages employee data and roles, SailPoint manages and automates the digital access rights for those employees across all enterprise systems and applications.
• CrowdStrike for securing user access: While CrowdStrike protects endpoints and devices from threats, SailPoint secures the human element, ensuring only appropriate users have access to sensitive data and systems, thereby mitigating insider threats and account compromises.

• Identity Governance: This service helps organizations manage and enforce identity-related policies across all users and systems.
• Access Management: This service provides robust control over who has access to specific applications and data within an organization.
• Access Certifications: This service automates the periodic review and re-certification of user access rights to ensure compliance and security.
• Access Request & Provisioning: This service streamlines the process for users to request access and automatically grants or revokes those access privileges.
• Password Management: This service securely manages and synchronizes user passwords across various enterprise systems.
• Identity Analytics: This service offers insights into identity data and access patterns to identify risks and improve security posture.

SailPoint (symbol: SAIL) sells primarily to other companies (B2B).

SailPoint provides enterprise identity security solutions to a wide range of large organizations across various industries globally. While SailPoint generally does not disclose a fixed list of its "major" customers, as its revenue is derived from a broad base of thousands of large enterprises, their customer base commonly includes:

• Large financial institutions
• Major healthcare providers and pharmaceutical companies
• Global manufacturing and industrial conglomerates
• Leading retail and consumer goods companies
• Government agencies
• Technology and telecommunications firms

Examples of companies that have been publicly identified as SailPoint customers through case studies or press releases include:

• Siemens (SIE.DE or SIEGY - Siemens AG)
• Coca-Cola Europacific Partners (CCEP)
• Capgemini (CAP.PA or CGEMY - Capgemini SE)

Please note that this is an illustrative list and not an exhaustive representation of SailPoint's entire customer portfolio or a declaration of specific revenue contributions from these entities.

• Amazon.com, Inc. (AMZN)
• Alphabet Inc. (GOOGL)

Mark McClain, Chief Executive Officer & Founder

Mark McClain co-founded SailPoint in December 2005. He is a serial entrepreneur, having previously co-founded Waveset Technologies in 2000, an identity management pioneer that was acquired by Sun Microsystems in 2003. After the acquisition, he served as Vice President of Software Marketing for Sun. McClain also holds experience in international sales and marketing from his time at HP and IBM Tivoli Systems. He currently serves as an operating adviser for Elsewhere Partners, a growth-stage venture capital firm, demonstrating a pattern of involvement with venture-backed companies.

Brian Carolan, Chief Financial Officer

Brian Carolan joined SailPoint as Chief Financial Officer in December 2022, overseeing finance strategies. He previously served as Chief Financial Officer at Commvault from 2012 to 2022, where he played a pivotal role in scaling finance functions, including leading Commvault's evolution from a private startup to a publicly traded company and guiding its IPO process. He also transformed SailPoint's finance function, including leading an ERP overhaul and driving a SaaS business model transition, positioning the company for a successful re-IPO after a period of private ownership. His career began as a Manager at EY.

Matt Mills, President

Matt Mills has over 30 years of experience in the technology sector and was promoted to President in August 2024. Prior to joining SailPoint, he spent more than 20 years at Oracle, where he served as Senior Vice President of North America Sales, overseeing 8,000 employees and managing $4.5 billion in annual revenues. He also held the position of CEO at MapR Technologies until 2018 and currently serves as a board advisor to several early-stage SaaS companies.

Abby Payne, Chief People Officer

Abby Payne brings over two decades of experience in human resources and organizational leadership to her role as Chief People Officer at SailPoint. Since joining SailPoint in 2011, she has been instrumental in creating the company's original "People Team" and fostering a globally recognized organizational culture. Her prior experience includes various Human Resources positions, with a decade at Trilogy, as well as comprehensive acquisition work with Versata Software, and roles at BMC Software and IntelliQuest.

Wendy Wu, Chief Marketing Officer

Wendy Wu serves as SailPoint's Chief Marketing Officer, bringing over 20 years of experience in B2B enterprise marketing. Before joining SailPoint in 2021, she was the Vice President of Marketing at Box, where she led the global demand generation team. Earlier in her career, Wu spent eight years at Google Cloud, building and scaling the demand generation team for the Google Cloud Platform, and held various product marketing and leadership roles at Microsoft and other global companies.

SailPoint's total addressable market (TAM) for its identity security solutions is estimated to be $55 billion in 2024 globally.

This market includes strong expansion potential in machine identities and AI agent markets.

SailPoint (symbol: SAIL) has recently re-entered the public market through an initial public offering (IPO) in February 2025, providing updated insights into its future revenue growth drivers. These drivers are primarily centered around capitalizing on the increasing demand for identity security, expanding its market reach, and leveraging technological advancements.

Here are 3-5 expected drivers of SailPoint's future revenue growth over the next 2-3 years:

1. Growing Demand for Identity Security Solutions: The overarching driver for SailPoint's revenue growth is the escalating global demand for robust identity security solutions. CEO Mark McClain has highlighted that interest in identity security has "amplified considerably" and that the need for these solutions continues to build, driven by ever-growing cybersecurity threats where "identity is the attack vector of choice" for malicious actors. This sustained market need positions SailPoint's offerings as a critical component for modern enterprise security.

2. Expansion of Global Customer Base and Market Reach: SailPoint aims to significantly expand its global customer base, focusing on large enterprises that require sophisticated solutions to manage and secure user access to various systems, applications, and data. The strategic and operational support from its owner, Thoma Bravo, is intended to help SailPoint broaden its market presence and reach a wider array of international clients.

3. Accelerated Innovation with AI-Driven Security Platform: A key driver of future growth is SailPoint's commitment to accelerating innovation across its product portfolio, particularly by strengthening its AI-driven security platform. The company has transitioned its core offering to an "advanced AI-powered identity security platform" which leverages artificial intelligence and machine learning to automate and streamline complex identity security protocols. This focus on advanced technology ensures SailPoint remains competitive and meets evolving enterprise security needs.

4. Successful Transition to a SaaS Model: SailPoint's successful transition to a Software-as-a-Service (SaaS) model is a significant driver of recurring revenue growth. This shift has already demonstrated positive results, with 92% of the company's revenue now derived from subscriptions, and it has contributed to both overall revenue growth and subscription revenue growth. A strong SaaS model typically leads to more predictable, scalable, and resilient revenue streams.

Share Issuance

• In February 2025, SailPoint announced the pricing of its upsized initial public offering (IPO) of 60,000,000 shares of common stock at $23.00 per share. The company itself issued and sold 57,500,000 shares, raising $1.32 billion. Existing stockholders sold an additional 2,500,000 shares, bringing the total amount raised in the IPO to $1.38 billion.
• SailPoint granted the underwriters a 30-day option to purchase up to an additional 9,000,000 shares of common stock at the initial public offering price.

Inbound Investments

• In August 2022, SailPoint was acquired by Thoma Bravo, a private equity firm, in an all-cash transaction valued at approximately $6.9 billion, taking the company private.
• Prior to its 2025 re-IPO, Thoma Bravo made an aggregate investment of $600.0 million in SailPoint by issuing Class A Units and Class B Units in December 2024 and January 2025.

Outbound Investments

• In February 2021, SailPoint acquired Intello, an early-stage SaaS security management company.
• SailPoint completed a business acquisition in December 2024, for which it drew $25.0 million from its Revolving Credit Facility.

Capital Expenditures

• SailPoint reported capital expenditures of $4.48 million in 2021, $13.58 million in 2022, and $14.64 million in 2023.
• As of a March 2025 filing, capital expenditures are noted as a general use of cash for the company.