Thycotic Sees Massive Spike in Channel Momentum

WASHINGTON, June 21, 2016 /PRNewswire/ -- Thycotic, a provider of privileged account management (PAM) solutions for more than 3,500 organizations worldwide, announced a significant spike in channel momentum since its Deal Registration and Rewards Program was introduced in November of 2015. In six months, the company has seen a more than 1500 percent increase in the number of new resellers signed – this year alone has seen an increase of more than 350 percent. 

The spike in channel growth also follows the appointment of Bob Gagnon who joined Thycotic as VP of Channel Sales in November of 2015 as well as naming Simon Azzopardi as Vice President of EMEA, in charge of building a world-class two-tier channel.

"We only recently became aware of Thycotic but have been incredibly impressed with the flexibility of the solution and how simple it is to implement, allowing us to focus on providing expertise on policy development and best practices," said Matthew Goggin, vice president of marketing, VeriStor Systems.

"From the moment Bob Gagnon took the reins in Channel Sales, and through the implementation of our partner programs as well as Simon's leadership in EMEA, Thycotic has seen nothing but success in our channel business," said James Legg, president and CEO, Thycotic.  "Progress within the channel is a major part of Thycotic's future and we remain committed to the Channel as evidenced by our focus on hiring, recruitment, enablement and newly implemented programs."

Highlights of Thycotic's Channel Momentum since November of 2015, include:

• Number of resellers signed: 1500+ percent increase in just six months with a more than 350 percent increase in 2016 alone.
• Enablement/Number of Certifications in Partners: Over 330 percent increase in the last six months with a 310+ percent increase just this year.
• Deal Registrations: A more than 450 percent increase this year with a total of more than 3,300 percent increase since channel programs were initiated.
• Deal Registration Pipeline: A 650+ percent increase since programs started with a more than 250 percent increase in 2016 totaling just over $6 Million currently in the pipe.
• Traction in EMEA:
  • Thycotic Names Simon Azzopardi Vice President of EMEA – In February of this year Simon was brought on board to build a world-class two-tier channel while focusing on delivering an unparalleled level of service to customers.
  • EMEA shift: The company's EMEA model has shifted to 100 percent channel, and swiftly working towards 100% 2-tier channel.
  • New Distributors: In 2016, Thycotic EMEA signed 19 new distributors, expanding its coverage capabilities.
  • Channel Team Expansion: Thycotic went from a two-person channel team in EMEA to a 12-person team in 2016.
  • Deal Registrations: Deal registrations have increased by more than 400 percent this year alone
• Channel Award Recognitions:
  • Bob Gagnon received CRN Channel Chief recognition
  • Thycotic Awarded 5-Star Rating in CRN's 2016 Partner Program Guide
  • Thycotic's Helen Morse recognized as one of CRN's 2016 Women of the Channel

"Thycotic enables us to provide more value for our resellers by expanding our portfolio with a first-class next-generation security solution. We offer our partners new opportunities in the market with Thycotic´s flexible product with great margins supplemented by excellent support and beneficial resources," said Herman Ramacher, managing director, ADN.

The lucrative Thycotic Rewards deal registration program provides incentive payments of up to $250 for registered deals, along with deal and margin protection.  For more information on Thycotic's Channel Partner program visit www.thycotic.com/partners

About Thycotic
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 3,500 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. 

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SOURCE Thycotic

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