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The Lockdown

Thycotic’s Cyber Security Blog

Thycotic Generates Massive Business Momentum in Q1 2018

Written by Jordan True

April 12th, 2018

WASHINGTON, D.C., April 12, 2018 — Thycotic, provider of privileged account management (PAM) solutions for more than 7,500 organizations worldwide, completed the best start to a year in the company’s history – highlighted by its rise in new customers, revenue growth and customer satisfaction. In Q1 2018, Thycotic added more than 150 new customers, achieved a 96 percent maintenance renewal rate, and recieved a 55 Net Promoter Score indicating an unprecedented near-perfect customer satisfaction.

“Thycotic is becoming a household name among IT professionals and we’re entirely committed to protecting their organizations from attacks through privileged accounts,” said James Legg, CEO at Thycotic. “With our recent Least Privilege Discovery Tool, we’re working on shaping companies best practices to a least privilege policy. Attackers are continuing to use privileged accounts as an entry point and it’s our job to give more and more organizations the tools to protect themselves.”

Highlights from the company include:

  • 52 percent year-over-year sales growth
  • 96 percent maintenance renewal rate over the last 12 months
  • Customers ranked their satisfaction with Thycotic achieving a 55 Net Promoter Score
  • 1,550+ Secret Server trials and 13,000+ downloads of content from the website
  • Delivery of two industry reports: Cyber Security for Dummies and The 2018 State of PAM
  • Launched version 10.4 of its key products, including new DevOps capabilities with  Secret Server SDK
  • Recognized with two prestigious awards: 14th Annual 2018 Info Security PG’s Global Excellence Awards and 2018 Cyber Security Excellence Award
  • Added 30 employees – bringing the Thycotic family to more than 200 employees

“The strong numbers Thycotic has announced demonstrate both the ongoing growth of the Privilege Management market and the fact that Thycotic has made its way into the group of leading vendors in that market segment,” said Martin Kuppinger, founder and principal analyst at KuppingerCole.

In order to shed light on the most pressing issues related to PAM, Thycotic released its 2018 Global State of PAM Risk and Compliance report last quarter – highlighting how most organizations are failing to fully put security controls in place to protect their most critical information assets. The report surveyed more than 500 organizations worldwide, revealing major risk and compliance gaps in how organizations manage and secure their privileged accounts.


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