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The Lockdown

Thycotic’s Cyber Security Blog

Thycotic’s Record-Breaking Year Continues with Stellar Q3

Written by Jordan True

October 11th, 2018

Successful Quarter Driven by Strong Adoption of PAM Technology, High Customer Satisfaction and Repeated Recognition for Thycotic as Leader 

WASHINGTON, D.C., October 11, 2018 — Thycotic, provider of privileged account management (PAM) solutions for more than 10,000 organizations worldwide, wrapped up another highly successful quarter highlighted by continued sales growth, third-party validation and product innovations. Through the third quarter of 2018, Thycotic has achieved a 50 percent year-over-year sales increase, 205 percent year-to-date growth in Secret Server Cloud sales and— in Q3 added over 220 new customers. Thycotic also achieved Common Criteria Certification for its award-winning Secret Server solution.

“Thycotic’s incredible success is evident by the fact that our company is growing 2.5 times faster than the PAM Market,” said James Legg, President and CEO at Thycotic. “As the threat of attacks through privileged accounts increases, organizations recognize the value of our PAM solutions and trust Thycotic to keep their most important data safe.”

Q3 highlights from the company include:

  • Produced 50 percent year-to-date sales growth and added more than 220 new customers in the quarter
  • Achieved 205 percent year-to-date sales growth for Secret Server Cloud
  • Received an 81 percent increase in year-over-year deal registrations from partners world-wide
  • Achieved Common Criteria Certification, proving ability to protect the government from security breaches
  • Released updated version of Secret Server Cloud, the most robust PAM-as-a-Service available in the market
  • Released Privilege Manager 10.5 with increased scalability and reporting
  • Launched simplified user-based pricing for Secret Server
  • Launched Cybersecurity Election Protection Toolkit, to safeguard candidates running for office
  • Designed and released free Incident Response Policy tool, helping IT operations, security and incident response teams form a united front against an attack to coordinate actions and maintain business continuity.
  • Recognized for multiple awards including:

In addition to the quarter’s financial success, Thycotic also surveyed black and white hat hackers at the 2018 Black Hat conference. Thycotic used the collected intelligence to publish a report showing the preferred attack vectors and strategies of modern hackers.

Report findings included:

  • Fifty percent of hackers say they easily compromised both Windows 10 and Windows 8 within the past year
  • Seventy-four percent of organizations are not doing a good job of implementing the principle of least privilege
  • Fifty-six percent of those surveyed said social engineering is the fastest technique for stealing privileged accounts