WASHINGTON, Jan. 12, 2016 /PRNewswire/ -- Thycotic, a provider of privileged account management (PAM) solutions for over 3,500 organizations world-wide, has extended its record of stellar growth throughout 2015, capping the year with a total revenue increase of more than 50% over 2014 and wrapping-up a remarkable Q4 with a 77% quarterly revenue increase. The company's growth strategy, which has now produced nine consecutive quarters of record revenues, resulted in the addition of a significant number of new customers, considerable growth in its distribution channel and wide-spread industry praise and recognition for product excellence.
"Our incredible financial performance throughout 2015, highlighted by an outstanding Q4, resulted from the culmination of successful efforts in several strategically important areas, including product development, channel expansion and customer service, as well as a continued commitment to innovation," said James Legg, President and CEO. "2016 looks even brighter, due to a planned expansion in Europe and the Pacific Rim, growth resulting from deeper relationships with an expanded set of partners, and the major new products we will be introducing."
Highlights of Thycotic's overall performance in 2015 include:
- Over 50% increase in year-over-year compound annual growth rate (CAGR);
- 200 new customers added in Q4;
- Record quarterly earnings for Q4;
- Addition of channel executive Bob Gagnon as VP channel sales;
- Launch of Thycotic Rewards Incentive Program in Q4, a channel program that resulted in a 400% increase in new partners and a 250% increase in deal registrations over those of the combined previous three quarters;
- Thycotic Secret Server selected by Adobe to improve innovative security automation practices;
- Debut of Thycotic's Enterprise Privileged Account Management solution, Secret Server 8.9.3 which now can be installed and configured in 30 minutes;
- New corporate website launched, www.thycotic.com, combining valuable content with ease-of-navigation for an ideal visitor experience;
- Wide-spread industry praise and recognition for product excellence:
- 2015 KuppingerCole Report: Protecting the Keys to Your Kingdom Against Cyber-attacks and Insider Threats
- 2015 IDC Technology Spotlight: Can Security Make IT More Productive? According to IDC analyst Chris Christiansen, "Thycotic is one of the few PAM companies that understands that PAM is an elastic combination of seamless integration, simplicity and automation that enhances compliance and security. IDC believes Thycotic is well positioned for success in the PAM market."
- Cybersecurity Ventures lists Thycotic as #25 of 100 in recent listing of World's Hottest and Most Innovative Cybersecurity Companies for Q4 2015
Thycotic, a global leader in next-generation IT security solutions, delivers an indispensable, comprehensive Privileged Account Management (PAM) solution to protect your "keys to the kingdom" from cyber-attacks and insider threats. Unlike any other security offering, Thycotic Secret Server assures the protection of privileged accounts while being the fastest to deploy, easiest to use, scalable enterprise-class solution offered at a competitive price. Already securing privileged account access for more than 3,500 organizations worldwide, including Fortune 500 enterprises, Thycotic Secret Server is simply your best value for PAM protection. For more information, please visit www.thycotic.com.