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Thycotic Leads the Way for Cloud-based Privileged Access Management

Company achieves more than 400% growth in cloud bookings; Adds new cloud data centre in Singapore

Adelaide, Australia, February 14, 2020 -- Thycotic, provider of privileged access management (PAM) solutions to more than 10,000 organisations, including 25 of the Fortune 100, today announced its 2019 accomplishments in cloud-based PAM. Successes this past year included award wins for its Secret Server Cloud solution, customer adoption, new cloud-focused product releases and more. 

With more than 90 percent of the world's data stored in the cloud, adoption of a cloud-based PAM solution has been more important than ever. Thycotic's Secret Server Cloud solution allows customers to benefit from an infrastructure and platform built to meet the requirements of the most security-sensitive organisations.

Thycotic added a new cloud data centre in Singapore, giving the company four PAM cloud data centres across multiple geographies in the United States, Germany, South East Asia and Australia with plans to add more in 2020.

Thycotic was also able to add an abundance of new customers to its cloud-PAM solution roster in 2019, one of which included DXC Technology.

"Security is our top priority. We chose Secret Server Cloud because it perfectly meets our needs for enterprise Privileged Access Management. Plus, the ease of use for both admins and users is exceptional," said Peter Loach, IT Manager -- DXC Eclipse at DXC Technology.

Thycotic's additional 2019 cloud-based accomplishments, include:

  • Achieved a 405 percent YOY increase in cloud bookings in 2019
  • Added upwards of 350 new PAM cloud customers in 2019, now accounting for more than 650 cloud customers overall
  • Launched two new PAM cloud products, Account Lifecycle Manager and Devops Secrets Vault
  • Launch of Privilege Manager Cloud 10.6, making all products within the company's end-to-end PAM solution now available in the cloud with full enterprise-grade functionality
  • Thycotic rated ahead of BeyondTrust and CyberArk for its cloud-based PAM solutions in Cyber Management Alliance's (CM-Alliance) report entitled, "Securing Your Organization with Cloud-Based Privileged Access Management (PAM)"
  • CEO James Legg named one of the Top 50 SaaS CEOs by The Software Report
  • Secret Server Cloud named a winner of the TMC 2019 Cloud Computing Product of the Year award, presented by Cloud Computing Magazine
  • Publishing of two cloud-based reports and surveys:
  • 2019 Global Research Report: "Security-as-a-Service on the Rise"
  • 2019 RSA Conference Survey

"Migration of workloads to public cloud infrastructures, like AWS and Azure, has greatly increased the enterprise attack surface. We have been committed to delivering best-in-class PAM capabilities as SaaS, to ensure ROI through instant deployment, while extending our PAM controls to IaaS," said Jai Dargan, vice president of Product Management at Thycotic. "2019 was a banner year for our cloud roadmap -- and we will be delivering several new advanced solutions in the coming months."

For more information on Thycotic and its cloud-based PAM solutions, visit www.thycotic.com.

About Thycotic

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 prioritising productivity, flexibility and control. Headquartered in Washington, DC, Thycotic operates worldwide with offices in the UK and Australia.