Thycotic Continues Substantial Business Momentum in Q1 2020

by Kali Linette on April 15, 2020

Washington, DC., April 15, 2020 – Thycotic, a provider of privileged access management (PAM) solutions to 10,000 organizations worldwide, including 25 of the Fortune 100, today announced that the company has completed Q1 2020 by adding over 260 new customers and achieving more than 180% year-over-year growth in PAM Cloud bookings. This momentum reflects Thycotic’s commitment to achieving the highest level of customer satisfaction and product innovation.

In recent months, we have witnessed the world’s largest remote workforce ever take shape, creating an unparalleled challenge to PAM security. Thycotic’s PAM solutions have always enabled remote workers to securely work from anywhere while staying productive.

“We are proud of our commitment to deliver the best PAM Cloud solutions over three years ago, which are now able to serve a remote workforce that no one anticipated,” said James Legg, President and CEO at Thycotic. “Cyber risks increase dramatically with each individual that moves to remote work and our tried-and-true method for thwarting privileged account attacks while allowing CISOs to easily access the functionality needed to protect their organizations is critical. Our team looks forward to continuing our work and momentum in 2020, as we all come together against a common enemy.”

Key highlights from the company include:

Added over 260 new customers
Grew PAM cloud business by over 180%, adding 100 new PAM cloud customers
Increased six figure deals by 60% year-over-year
Achieved 34 Net Promoter Score from customers – 14% above industry average
Released Service Account Security For Dummies, which is available free electronically as well as in print

New products and integrations released:

Sponsorships Available

Launched the availability of its cloud PAM solutions delivered via its new local data center in Canada
Launched new versions of Privilege Manager, Secret Server, Account Lifecycle Manager, DevOps Secrets Vault and Connection Manager Products
Delivered new integrations for Thycotic DevOps Secrets Vault, which now supports connections to key DevOps and robotic process automation (RPA) tools
Added 6 new Secret Server integrations into Thycotic Integrations Center, an online resource bringing easy access to technology integrations, as part of its technology integration partner program

Received honors from six prestigious award programs, including the following:

5-Star Rating in the 2020 CRN® Partner Program Guide
2020 Cybersecurity Excellence Awards: Gold for Joseph Carson, Thycotic Chief Security Scientist and Advisory CISO, in the Cybersecurity Professional of the Year (North America) category; Silver for Joseph Carson, Thycotic Chief Security Scientist and Advisory CISO, in the Cybersecurity Blogger of the Year category; and Bronze for Best Cybersecurity Company (between 100 to 499 employees) category
2019 Excellence Award from Cloud Computing Magazine This is the second year in a row that Thycotic Secret Server Cloud has won this industry recognition
NorthFace ScoreBoard Award℠ from Omega Management Group Corp and Customer Relationship Management Institute(CRMI) for excellence in customer service and support in 2019 for the second year in a row
2020 Best Place to Work by the Business Intelligence Group This is the second year in a row that Thycotic has been named a winner
Team member Bob Gagnon, Vice President of Thycotic, Recognized as CRN® 2020 Channel Chief for 10th Time in His Career