Thycotic, a provider of privileged access management (PAM) solutions to more than 12,500 organizations worldwide, including 25 of the Fortune 100, today announced the close of a ground-breaking year with 50 percent year-over-year sales growth in Q4 2020. 320 new customers were added to the company’s portfolio in Q4, marking a total of 1,040 throughout 2020. This strong growth was propelled by Thycotic’s innovative and expanding PAM offering, cloud leadership and world-class customer service as cloud adoption rates soared globally.
“2020 was a milestone year for Thycotic, despite the unparalleled challenges the shift to remote work brought to all industries,” said James Legg, President and CEO at Thycotic. “From the outset, our PAM solutions were purpose-built to secure and support a remote workforce and cloud environments without negatively impacting productivity. This year, we continued to deliver new product innovations and amplify existing solutions with enhanced capabilities, all while providing the highest standard of customer support for businesses during difficult times.”
Key highlights include:
- 50 percent year-over-year sales growth in Q4 2020
- 320 new customers added in Q4 – marking 1,040 total new customers in 2020
- 87 percent growth in cloud sales in 2020
- Net Promoter Score of 34 from customers – 14 percent above industry average
- Named a leader in the 2020 Gartner Magic Quadrant for PAM
- Announced acquisition of PAM solution provider Onion ID
- Launched 401 Access Denied Podcast in partnership with Cybrary
- 65,000 downloads of Thycotic’s free tools, trials and reports in 2020, including:
New products released:
- Remote Access Controller: Automates the management of remote employees and third parties accessing the IT resources needed to be productive and secure
- Cloud Access Controller: Ensures that administrators accessing IaaS platforms such as Amazon Web Services (AWS) and SaaS applications maintain appropriate Role Based Access Controls (RBAC)
- Database Access Controller: Enables enterprises to adopt modern cloud databases from AWS (RDS), Google, Azure, and others, while still enforcing appropriate access levels, MFA, and complete reporting and auditing workflows
- Identity Bridge: Protects key enterprise platforms including Red Hat Enterprise Linux (RHEL)
Received 22 awards and was recognized as a leader by top analyst organizations, including the following:
- Recognized as a leader in PAM industry analyst reports, including Gartner Magic Quadrant, Forrester Wave and KuppingerCole Leadership Compass
- Named to the 5000 list of fastest growing private companies in America for the eighth consecutive year and Deloitte Technology Fast 500 for fifth consecutive year
- NorthFace ScoreBoard Award℠ from Omega Management Group Corp and Customer Relationship Management Institute (CRMI) for excellence in customer service and support in 2019 for the second year in a row
- 2020 Best Place to Work by the Business Intelligence Group for two years running
- Team members Katie McCroskey and Kara Trovato recognized as 2020 CRN® Women of the Channel and Bob Gagnon recognized as CRN® 2020 Channel Chief for the tenth time in his career
- Joseph Carson was highly commended in the ‘Outstanding Contribution’ category for the 2020 SC Media Awards Europe for his tremendous work and outreach within the cybersecurity industry
