WASHINGTON, July 16, 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 out Q2 2020 with 25% year-over-year sales growth and over 200 new customers. During the past quarter, Thycotic also announced the acquisition of PAM solution provider, Onion ID, to expand their product offerings, released updates to its flagship product Secret Server, and had four team members recognized in prestigious award programs.
"We recognize the critical role our solutions play in ensuring businesses are protected as the threat landscape is expanded due to the shift to remote work," said James Legg, President and CEO at Thycotic. "I am blessed to work alongside the most talented team of cybersecurity professionals who have worked incredibly hard to ensure our customers and our business maximize success".
Thycotic also announced a change in leadership within its marketing team. Chris Smith, previously VP of Product Marketing, was promoted to Chief Marketing Officer. As CMO, Smith is responsible for leading Thycotic's global marketing efforts, with a focus on building visibility for the company and contributing to the attainment of revenue growth objectives.
His predecessor, Steve Kahan, was promoted to Chief of Staff where he now serves as a close advisor to the chief executive and maintains strong relationships with team members across the organization to help the company continue its strong momentum.
Key highlights from the company include:
Added 204 new customers
Recorded a quarterly sales growth of 25%
Year-to-date cloud sales increased by over 100%
Announced acquisition of PAM solution provider Onion ID
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.