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 with DevOps workflows and macOS; earned major industry certifications such as ISO 27001 and recognition from esteemed analyst firms, Gartner and Kuppinger 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:
- Election Protection Toolkit
- Privileged Access Management Policy Template
- Least Privilege Cybersecurity for Dummies eBook
- Experts Guide to PAM Success
- 2019 Black Hat Report
- IT Security Professional Survey Report
- 3 New products released in 2019:
- Account Lifecycle Manager: Controls service accounts with end-to-end governance, from discovery and provisioning through decommissioning
- DevOps Secrets Vault: Centrally manages passwords used to access applications and services without causing friction in the development process
- Connection Manager: Manages multiple remote sessions for both Remote Desktop Protocol (RDP) and SSH in a unified environment
- Thycotic received 35 awards and recognized as a leader by top analyst organizations, including the following honors:
- Recognized as a leader in PAM industry analyst reports, including Gartner Group Magic Quadrant, Forrester Wave and KuppingerCole Leadership Compass
- NorthFace ScoreBoard Award℠ for Outstanding Customer Satisfaction and the SAP Litmos Lenny award for best customer service training program
- Top 50 SaaS CEOs and the IT World Awards "Gold Winner" for Achievement in Management awarded to Thycotic President and CEO James Legg
- Deloitte Technology Fast 500 List's No. 360 organization and No. 1541 in the Inc. 5000 Fastest Growing Companies List
- Cloud Computing Product of the Year from TMC, Best Privileged Access Management Solution from the Tech Ascension Awards, and "The Leader" in Privileged Account Security by Cyber Defense Magazine awarded for Secret Server
- Team members Becca Stucky, Katie McCroskey and Kara Trovato recognized as 2019 CRN Women of the Channel
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.
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