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Thycotic Records Strong 2020 Momentum for Cloud-based Privileged Access Management

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Written by Kali Linette

February 2nd, 2021

Washington, DC., February 2, 2021 – Thycotic, a provider of privileged access management (PAM) solutions to more than 12,500 organizations worldwide, including 25 of the Fortune 100, today announced its 2020 success in cloud-based PAM, recording a 87 percent year-over-year increase in cloud sales growth along with the addition of more than 500 new cloud customers, bringing the total to over 1200. The company’s cloud success over the past year includes the launch of several new cloud security products, extended cloud support capabilities for existing solutions, numerous award recognitions for its signature Secret Server Cloud and more. 

Most notably, last year the company acquired privileged access solution provider Onion ID, extending its cloud leadership in the PAM industry. With this acquisition, Thycotic strengthened its range of innovative cloud access control solutions, adding three new products: Thycotic Remote Acces Controller, Thycotic Cloud Access Controller and Thycotic Database Access Controller. Thycotic also unveiled significant updates to Secret Server Cloud and Privilege Manager Cloud with new features that increase productivity and usability. 

Thycotic’s additional 2020 cloud-based accomplishments, include:

“The rapid acceleration of digital transformation initiatives and soaring cloud adoption rates globally in response to the pandemic and a remote workforce means that more organizations are seeking privileged access solutions that are purpose-built to support cloud environments,” said James Legg, President and CEO at Thycotic. “As a company, the development of cloud-ready PAM solutions has been a core part of our strategy and mission over the last few years and in 2020, we continued to build on this, growing and expanding our offerings.” 

 

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