WASHINGTON, April 15, 2020 /PRNewswire/ -- Thycotic, a provider of privileged access management (PAM) solutions to 10,000 organizations worldwide, including 25 of the Fortune 100, today announced that the company has completed Q1 2020 by adding over 260 new customers and achieving more than 180% year-over-year growth in PAM Cloud bookings. This momentum reflects Thycotic's commitment to achieving the highest level of customer satisfaction and product innovation.
In recent months, we have witnessed the world's largest remote workforce ever take shape, creating an unparalleled challenge to PAM security. Thycotic's PAM solutions have always enabled remote workers to securely work from anywhere while staying productive.
"We are proud of our commitment to deliver the best PAM Cloud solutions over three years ago, which are now able to serve a remote workforce that no one anticipated," said James Legg, President and CEO at Thycotic. "Cyber risks increase dramatically with each individual that moves to remote work and our tried-and-true method for thwarting privileged account attacks while allowing CISOs to easily access the functionality needed to protect their organizations is critical. Our team looks forward to continuing our work and momentum in 2020, as we all come together against a common enemy."
Key highlights from the company include:
Added over 260 new customers
Grew PAM cloud business by over 180%, adding 100 new PAM cloud customers
Increased six figure deals by 60% year-over-year
Achieved 34 Net Promoter Score from customers – 14% above industry average
2020 Cybersecurity Excellence Awards: Gold for Joseph Carson, Thycotic Chief Security Scientist and Advisory CISO, in the Cybersecurity Professional of the Year (North America) category; Silver for Joseph Carson, Thycotic Chief Security Scientist and Advisory CISO, in the Cybersecurity Blogger of the Year category; and Bronze for Best Cybersecurity Company (between 100 to 499 employees) category
2019 Excellence Award from Cloud Computing Magazine This is the second year in a row that Thycotic Secret Server Cloud has won this industry recognition
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.