Thycotic’s Record-Breaking Year Continues with Stellar Q3

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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 quarterAchieved 205 percent year-to-date sales growth for Secret Server CloudReceived an 81 percent increase in year-over-year deal registrations from partners world-wideAchieved Common Criteria Certification, proving ability to protect the government from security breachesReleased 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 reportingLaunched simplified user-based pricing for Secret ServerLaunched Cybersecurity Election Protection Toolkit, to safeguard candidates running for officeDesigned 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: Cyber Defense Global Award for Secret Server in the Cutting-Edge Privileged Account Security categoryBest of VMworld Finalist AwardRanked No. 2730 in Annual Inc. 5000 making the list for sixth year in a row

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 yearSeventy-four percent of organizations are not doing a good job of implementing the principle of least privilegeFifty-six percent of those surveyed said social engineering is the fastest technique for stealing privileged accounts

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About Thycotic
Thycotic’s award-winning Privileged Account Management solutions minimize privileged credential risk, limit user privileges and control applications on endpoints and servers. Thycotic is one of the world’s fastest growing IT security companies because we provide customers with the freedom to choose cloud or on premise software solutions that are the easiest to implement and use in the industry. Thycotic solutions are the highest rated PAM tools by your Gartner peers, and trusted by over 10,000 users worldwide including 25% of Forbes Top 50 Companies, and 20% of the Fortune 500.
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