WASHINGTON, Oct. 13, 2020 /PRNewswire/ -- Thycotic, a provider of privileged access management (PAM) solutions to more than 10,000 organizations worldwide, including 25 of the Fortune 100, today announced that the company has closed the strongest Q3 in the company's history by adding more than 260 new customers and achieving 25% year-over-year sales growth. Year-to-date sales of Thycotic PAM Cloud products increased 85% bringing the total number of PAM cloud customers to over 1000. Thycotic also announced the launch of Thycotic Identity Bridge, was named a leader in the prestigious 2020 Gartner Magic Quadrant for PAM, and earned praise for its company growth and tech innovation.
"We are proud of the exceptional growth our business has achieved, especially with the adoption of our industry-leading PAM cloud solution," said James Legg, President and CEO at Thycotic. "The COVID-19 crisis has had a profound impact on the way businesses operate. Our incredible global team and best-in-class PAM products are proving themselves to help thousands of organizations successfully navigate their way through these trying times and protect their most important assets."
Key highlights from the company include:
- Added 260 new customers
- Recorded quarterly sales growth of 25%
- Year-to-date cloud sales increased by over 85% bringing the total number of PAM cloud customers to over 1000
- Named a leader in the 2020 Gartner Magic Quadrant for PAM
- Released free eBook: "Privileged Access Cloud Security For Dummies"
Notable product and integration releases include:
- The latest release of Secret Server with capabilities for the new reality of cloud and remote work
- Launch of new Thycotic Identity Bridge product to protect key enterprise platforms including Red Hat Enterprise Linux (RHEL)
- Expanded integration with Kubernetes to manage privileged credentials within both Secret Server and DevOps Secrets Vault
- Release of Privilege Manager 10.8 with advanced machine learning to control dangerous applications on endpoints
- Automating and extending privileged access security in DevOps environments with improvements to DevOps Secrets Vault
Industry awards and recognition garnered include:
- Recognized as a 'Fastest Growing Company' by the Washington Business Journal
- Named to the Inc. 5000 list of fastest growing private companies in America for the eighth consecutive year
- Named a "Gold Winner" for Secret Server in the Access Solutions and Management category and a "Bronze Winner" in the Hot Company of the Year category for security software, in the 2020 Network PG's IT World Awards
Thycotic is the leading provider of cloud-ready privilege management solutions. Thycotic's security tools empower over 10,000 organizations, from small businesses to the Fortune 100, to limit privileged account risk, implement least privilege policies, control applications, and demonstrate compliance. Thycotic makes enterprise-level privilege management accessible for everyone by eliminating dependency on overly complex security tools and prioritizing productivity, flexibility and control. Headquartered in Washington, DC, Thycotic operates worldwide with offices in the UK and Australia. For more information, please visit www.thycotic.com.
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