Thycotic Achieves Most Successful Quarter in Company History
Written by Jordan True October 17th, 2017
Washington, D.C. – October 17, 2017 – Thycotic, a provider of privileged account management (PAM) solutions for more than 7,500 organizations worldwide, today announced the best quarter in the company’s history. This was marked by the company’s massive leap in Inc. 5000’s Fastest Growing Private Companies to No. 1,739 – moving up 521 spots in the overall ranking and its listing as No. 13 in Cybersecurity Ventures’ Q3 2017 edition of its Cybersecurity 500 list. In addition, the company has achieved 50 percent year-over-year growth while being selected for numerous and prestigious industry awards.
“This last quarter brought out the best of Thycotic across the board,” said Jim Legg, CEO at Thycotic. “Between our growth in customers and coming out on top of the credible rankings and awards we’ve been competing in, it’s the most positive quarter to date. At the same time, we’ve shared industry research to highlight the importance of what great PAM solutions can do for an organization.”
Highlights of Thycotic’s Q3 performance in 2017 include:
- Sales:
- 50 percent year-over-year growth
- Thycotic’s international business in EMEA and APAC grew 125 percent year-over-year
- Customer and Renewals:
- Added more than 190 new customers in Q3 alone
- 97 percent maintenance renewal rates indicating superior customer satisfaction
- Industry Recognition:
- Won CyberSecurity Breakthrough Award for Best Password Management Solution of the Year
- Moved up 521 spots in Inc. 5000 Fastest Growing Private Companies List to No. 1739
- Thycotic’s Secret Server named Gold Winner for Golden Bridge Award
- Won Business Intelligence Group’s 2017 Stratus Award for Best Enterprise Cloud Security Service
- Moved to the No. 13 spot in the Q3 2017 edition of the Cybersecurity 500 list published by Cybersecurity Ventures, ahead of competitors such as CyberArk and BeyondTrust
- Delivered Industry Research:
- Security Measurement Index Report, showing organizations how IT security effectiveness compares to best practices and those of peers
- 2017 Black Hat Survey, where hackers revealed what cybersecurity technologies are obsolete and the easiest way to access sensitive data
- Product Innovation:
- Introduced Secret Server 10.3 and Privilege Manager, solutions that enable organizations to store, distribute, change and audit enterprise passwords in a secure environment while easing the burden of least privilege with application whitelisting and privilege elevation
- Released industries first free PAM Risk Assessment Tool, a tool for organizations to complete an official, standards-based assessment to obtain their risk score on their PAM security
- Expansion of Executive Team:
- Appointed Nick Margarites as new Chief Financial Officer to expand the company’s global growth
