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The Lockdown

Thycotic’s Cyber Security Blog

Thycotic Closes Out 2017 with Record Growth

Written by Jordan True

January 16th, 2018

WASHINGTONJan. 16, 2018 /PRNewswire/ — Thycotic, a provider of privileged account management (PAM) solutions for more than 7,500 organizations worldwide, has ended an epic 2017, outperforming previous years by ending with 60 percent year-over-year sales growth. In addition to this incredible growth, in Q4 alone, the company added more than 160 new customers. Thycotic’s continued success is attributed to continued recognition for enterprise-class PAM products that deliver immediate value, superior customer satisfaction, and a consistent addition of new customers seeking technologies to keep their privileged accounts safe from cyber-attacks.

“Every year I see the growth that our company has achieved and think it is the best yet,” said James Legg, President and CEO. “I am consistently in awe by how much we are able to accomplish in just 12 months and the growth we are seeing is astonishing. With a sales growth of 60 percent in 2017, I only see this as continued motivation for my team to bring forth the innovation in cybersecurity that is much needed in a world full of cyber criminals trying to steal privileged accounts.”

Highlights of Thycotic’s overall 2017 performance include:

  • 60 percent year-over-year sales growth in 2017
  • More than 160 new customers added in Q4 alone – bringing the total number of customers added in 2017 to 725+
  • 96 percent maintenance renewal rate in Q4
  • Significant momentum in its channel model with 44 percent of total Q4 new license sales contribution from partners
    • Released Privilege Ready Program partner ecosystem, which supports more than 20 security vendors to organize their existing IT infrastructure.
  • IT security professionals downloaded over 42,000 Thycotic’s Free tools, including:
    • 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 for Windows providing organizations with the highest secured malware protection by enabling them to run only those applications that are both required and trustworthy
    • 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
    • Launched Free Browser Stored Password Discovery Tool, a fast, free tool that gives IT security professionals an easy way to identify browser-stored passwords.
  • Received 14 industry recognitions, which include:
  • Delivery of four industry research reports, including:
  • Expansion of executive team:
    • Welcomed Michelle Hayes to the team as Thycotic’s Vice President of Human Resources
    • Appointed Nick Margarites as new Chief Financial Officer to expand the company’s global growth