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The Lockdown

Thycotic’s Cyber Security Blog

Day 90 Merger Update: Momentum During Integration Delivers a Great Q2 for ThycoticCentrify

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Written by Art Gilliland

July 22nd, 2021

Last week we passed the 90-day mark as we continue our integration journey as ThycoticCentrify.

We also got a detailed look at our company performance during Q2. Across the board, it was clearly a hugely successful quarter for ThycoticCentrify.

When you put the Thycotic and Centrify numbers together, it’s even more impressive and a powerful testimonial that ThycoticCentrify will be an overall stronger company that’s better than the sum of its parts:

  • 41% increase in combined year-over-year (YoY) sales
  • 136% increase in YoY cloud sales
  • Added 388 new customers to the 14,000+ we are currently proud to serve

We are not slowing down. We are optimizing and delivering more value to our customers by innovating as we integrate, and bringing what we believe is the most comprehensive cloud-ready privileged access management (PAM) solution portfolio to market.

Two Recognized Leaders, Again

We also were proud this week that Centrify and Thycotic were both recognized as Leaders again in the 2021 Gartner Magic Quadrant (MQ) for Privileged Access Management.

Since the evaluation process for the MQ was already in progress when we announced our intent to merge, Gartner evaluated us as separate vendors based on ability to execute and completeness of vision.

This is the third consecutive PAM MQ that Centrify has been recognized as a Leader, and the second straight time for Thycotic. We believe we are positioned well to make an even stronger case as a market leader as ThycoticCentrify in the next report.

Technology Roadmap Update

One of our main goals during the first 90 days was to get clarity around our offerings and the technology roadmap. I’m glad to report that we’ve determined our innovation investments going forward.  While roadmaps are never really done, we are excited about our direction and are confident that our customers will be as well.

This is a big milestone, and one that I know a lot of our customers, prospects, partners, and our competition is eager to learn more about. We have already begun sharing the roadmap and future investment priorities with our customers and partners, and are using it to assure prospects that ThycoticCentrify is the cloud-ready PAM solutions partner they can trust.

While we won’t be publishing anything publicly about the roadmap, as is the norm, you will see us continue to clarify our focus, solutions offerings, and go-to-market strategy with each passing week. For our customers, partners, and potential customers, we are happy to schedule a time to share it with you directly.

Also, in case you missed it, we recently updated the Centrify website! It is now better aligned to the way customers see their PAM and cloud identity security challenges and is generally easier to navigate to learn more about Server Suite (including the recent update), Cloud Suite, and more.

We’ll keep you updated as we continue our merger integration. If you have any questions, please don’t hesitate to reach out. We are excited to talk with you.

Art

 

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