Investing.com -- Shares of CrowdStrike (NASDAQ:CRWD) climbed 2.8% following the announcement that the cybersecurity firm has become the first and fastest pure play SaaS cybersecurity vendor to exceed $1 billion in total sales with SHI International. The achievement underscores the demand for the company's AI-powered cybersecurity solutions and its effective partner-first go-to-market strategy.
The Austin, Texas-based company's partnership with SHI International, a global provider of technology solutions, has been instrumental in the rapid adoption of the CrowdStrike Falcon® cybersecurity platform. Over 70% of the revenue from this partnership has been generated in the last three years, reflecting the market's appetite for platform consolidation and the success of SHI in bringing new accounts to CrowdStrike and effectively cross-selling Falcon platform modules.
CrowdStrike's ability to meet the growing demand for AI-native cybersecurity platforms has been further validated by the accolades received from SHI International in 2024, including Global Solution Provider of the Year, Americas Solution Provider of the Year, and Public Sector Partner of the Year. These awards highlight SHI's role in expanding CrowdStrike's market presence and increasing customer adoption across various industries and regions.
Stifel analyst Brad Reback commented on the milestone, stating, "We are pleased to see CrowdStrike reach this milestone and view this as positive indication of continued momentum within the channel as CrowdStrike continues to prioritize the channel as its primary go-to-market motion. We highlight that this is CrowdStrike’s third $1 billion dollar LTD partner – recall in June 2024, CrowdStrike announced that total sales with CDW (NASDAQ:CDW) had exceeded $1 billion and in October 2023, CrowdStrike announced that total sales with AWS had exceeded $1 billion within six years of the partnership commencing."
The market's positive response to CrowdStrike's announcement reflects confidence in the company's growth trajectory and its strategic channel partnerships. As cybersecurity remains a critical concern for organizations worldwide, partnerships like the one with SHI International are pivotal for CrowdStrike in maintaining its leadership position in the industry.
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