Manchester software firm, Avecto, has announced growth of 51% year on year, with revenue exceeding £23.5m.

The company said that orders had grown by 46% and new business had increased 55% over the last 12 months.

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“Against a backdrop of stiff competition and often tricky market conditions, Avecto has continued to thrive. Every year we’re setting a significantly higher benchmark which is fantastic to see. This past year we have made great strides forward through a mix of both continuous product innovation and an unswerving determination from everyone in the business to be the very best in the privilege elevation and delegation management market,” stated Paul Kenyon, co-founder and co-CEO of Avecto.

“Looking forward, 2018 will see the company celebrate its 10th anniversary and I’m confident, given the trajectory we’re on, that our 10th year will be another record breaker.”

The growth is attributed to a “huge spike” in sales for its Defendpoint software, which helps companies stop “insider and external” attacks. It now has more than 8m users around the world.

The company has also increased its headcount by 20% across offices in the UK, Boston (USA) and Frankfurt. This has seen it expand its headquarters at Manchester Airport and move into larger office space in Germany.