WASHINGTON, July 12, 2016 /PRNewswire/ -- Thycotic, a provider of privileged account management (PAM) solutions for more than 7,500 organizations worldwide, has added more than 160 new customers in Q2 alone and continues its growth trajectory with a 100 percent compound annual growth rate (CAGR) since Q2 2015. Aside from a substantial increase in global customers, Thycotic's continued growth is attributed to recent channel program successes, product innovation, new executive leadership and an abundance of product downloads.
"Having a stellar first quarter in 2016 really motivated our team to keep driving forward and continue this upward momentum of growth," said James Legg, President and CEO at Thycotic. "The addition of over 160 new customers is attributed to the hard work of both our sales and innovations teams which continues to translate the value and importance of Privileged Account Management solutions to companies all around the world."
Highlights of Thycotic's performance in Q2 of 2016:
- One-hundred percent overall growth
- Significant momentum in its channel model:
- New resellers up 1,500 percent following deal registration and rewards program launch success
- Channel Award Recognitions:
- Thycotic awarded 5-Star Rating in CRN's 2016 Partner Program Guide
- Product innovation underpinning company success:
- Secret Server 9.0: Thycotic Strengthens Privileged Account Management Solution with Release of Secret Server 9.0
- Positive reception of free tools:
- Launch of Privileged Account Discovery for Unix and Linux
- Free tools hit more than 5,500 downloads
- Addition of executive team talent:
- Damon Tompkins, VP of Americas
- Kathy Moore, CFO
- Industry Recognition:
- Hosted successful 2nd annual user conference:
- More than 150 customers attended two-day event in Washington, D.C.
- Customer growth:
- Addition of 160 new customers using Thycotic's solutions– bringing the customer base to more than 7,500 world-wide.
"Needless to say, I am proud of how far Thycotic has come this year alone," said Legg. "Customer satisfaction at Thycotic is at an all-time high which contributes to the growth in customers we are seeing. When our customers are happy that means we are doing something right."
Thycotic, a global leader in IT security, is the fastest growing provider of Privilege Management solutions that protect an organization's most valuable assets from cyber-attacks and insider threats. Thycotic secures privileged account access for more than 7,500 organizations worldwide, including Fortune 500 enterprises. Thycotic's award winning Privilege Management Security solutions minimize privileged credential risk, limits user privileges and controls applications on endpoints and servers. Thycotic was founded in 1996 with corporate headquarters in Washington, D.C. and global offices in the U.K. and Australia. For more information, please visit www.thycotic.com.