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Q4 Success Caps Thycotic's Tremendous 2019

Announcement posted by emt Distribution 15 Jan 2020

Award-winning PAM Leader Delivered 50 Percent Year-Over-Year Sales Growth and Brought on over 1,000 New Customers in 2019

ADELAIDE, Australia, January 15, 2020 -- Thycotic, provider of privileged access management (PAM) solutions to more than 10,000 organisations, 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 recognise 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:

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 recognised as a leader by top analyst organisations, including the following honours:

About Thycotic

Thycotic is the leading provider of cloud-ready privilege management solutions. Thycotic’s security tools empower over 10,000 organisations, 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 prioritising productivity, flexibility and control. Headquartered in Washington, DC, Thycotic operates worldwide with offices in the UK and Australia.