Phone Number +1-202-802-9399 (US)
The Lockdown

Thycotic’s Cyber Security Blog

Thycotic Continues Record Success in 2016

Written by Jordan True

January 10th, 2017

Washington, D.C.January 10, 2017 – Thycotic, a provider of privileged account management (PAM) solutions for more than 7,500 organizations worldwide, has ended its record 2016 year by achieving a 66 percent compound annual growth rate (CAGR) and added more than 200 new customers in Q4 alone. In addition to a significant increase in customers globally, Thycotic’s continued growth is attributed to channel program successes, increasing maintenance renewal rate, additions to its executive team, acquisitions, continued product innovation, and an abundance of product downloads and awareness.

“2016 has been one fantastic year for Thycotic. The entire year presented the company with so many great opportunities for growth in numbers of partnerships, acquisitions, customers and product innovation,” said James Legg, President and CEO. “We are especially pleased with the 97 percent maintenance renewal rate from our customers in Q4. This is one of the best indicators of customer satisfaction proving that we’re not only growing revenues and adding customers – but that our customers love and are satisfied with Thycotic products and support personnel.”

Highlights of Thycotic’s overall 2016 performance include:

  • 66 percent CAGR in 2016
  • More than 200 new customers added in Q4 alone – bringing the total number of customers added in 2016 to 650+
  • 97 percent maintenance renewal rate in Q4
  • Significant momentum in its channel model:
    • 80 percent of total Q4 new license revenue contribution from partners
        • Reseller deal registration experienced a Q4 YoY increase of 512 percent partly due to the company’s innovative rewards program
        • Launched first European Unlocked partner conference with attendance from more than 50 partners from 20 countries
  • Continued delivery of product innovation:
    • Secret Server Cloud for privileged accounts, protecting organizations most valued asset, created a free version with vault capabilities and an active integration for up to 100 users
    • Privilege Manager providing organizations with the highest secured malware protection by enabling them to run only those applications that are both required and trustworthy
    • Unveiling of Secret Server 9.0, enabling businesses of all sizes to store, distribute, change and audit passwords in a secure environment
  • Acquisitions to expand product capabilities, including:
    • Security analytics company, Cyber Algorithms, to identify malicious privileged behavior across systems and users
    • Provider of Windows endpoint security and application control software, Arellia
  • Industry Recognition:
        • Inclusion in 23 research reports published by leading industry analysts including, Gartner Group, Forrester, KuppingerCole and CyberSecurity Ventures
  • An increase in the number of downloads of Thycotic’s FREE tools by more than 15,000, with the introduction of six new Free tools in 2016, including:
    • Endpoint Application Discovery free tool, grants IT security professionals to receive visibility over the entire network, by educating them on the risks that they might be faced with when involving applications running on their systems
    • Secret Server Free, allowing privileged password management at no cost to IT teams
    • Introduced, Free Privileged Account Management eLearning course for Individuals to grasp a Full Understanding of PAM While Earning CPE Credit
  • Delivery of industry research, including:
        • Thycotic’s 2016 State of PAM report, revealing major shortcomings in the current state of privileged credential password and access security among organizations worldwide
  • Expansion of executive team:
        • Hiring of Kathy Moore as Chief Financial Officer (CFO), Damon Tompkins as Vice President of Americas Sales, and Simon Azzopardi as Vice President of EMEA

To learn more about Thycotic, please visit here and follow Thycotic on Twitter at @Thycotic.


Like this post?

Get our top blog posts delivered to your inbox once a month.