WASHINGTON, Jan. 14, 2020 /PRNewswire/ -- Thycotic, provider of privileged access management (PAM) solutions to more than 10,000 organizations, including 25 of the Fortune 100, today announced a landmark year for the company, with amplified customer satisfaction, delivery of three new PAM products and noteworthy industry recognition. Following a 45 percent year-over-year sales growth from 2017 to 2018, Thycotic surged to 50 percent from 2018 to 2019. Demonstrating the company's continued global growth, 330 new customers joined Thycotic's family in Q4 and 1,100 total joined during 2019.
"2019 was a banner year for Thycotic in terms of financial growth, but more importantly, in customer success and product innovation," said James Legg, President and CEO at Thycotic. "We are very proud of our ability to satisfy customers which all stems from the best PAM products available on the market and a team of cybersecurity professionals dedicated to customer success. Enterprise-class customers are choosing Thycotic and many are switching from legacy incumbents because they recognize our products do a superior job of securing their data, infrastructure and users."
Thycotic's innovative solution, cloud leadership and outstanding customer service propelled the company to widespread success. As the company continued to build on its premium PAM solutions, Thycotic successfully launched new features to help customers better integrate withDevOps workflowsandmacOS; earned major industry certifications such asISO 27001 and recognition from esteemed analyst firms,Gartner andKuppinger Cole.
Key highlights for 2019 include:
50 percent year-over-year sales growth in 2019
330 new customers added in Q4 alone — 1,100 total new customers in 2019
408 percent growth in cloud sales
90 percent maintenance renewal rate and a 4.7 out of 5 satisfaction ranking from customers
71,000 downloads of Thycotic's free tools, trials and reports in 2019, including:
Heading to RSA® Conference, February 24 – 28, 2020, in San Francisco? Visit Thycotic booth #655 in the South Hall and you could #DriveAwayFromRSA in the CEO's Jeep! Not attending? Join the conversation virtually with Thycotic CISO, Terence Jackson, on Tuesday, February 25, 2020, at 10:30 a.m. (PT), as he participates in the live video panel, "The Changing Face of Compromise," presented by BrightTALK.
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.