Thycotic's Record-Breaking Growth Continues in Q1 2019
WASHINGTON, April 11, 2019 /PRNewswire/ -- Thycotic, a provider of privileged access management (PAM) solutions to 10,000 organizations worldwide, today announced that it has ended its Q1 of 2019 with a historic 643 percent year-over-year growth for cloud sales. The spike in cloud adoption was driven by strong product adoption, analyst recognition, high-customer satisfaction and Thycotic's innovative Secret Server Cloud solution.
"Not many companies can talk about their growth in cloud in such a way that Thycotic can, which is backed by a strong close to our quarter," said James Legg, president and CEO of Thycotic. "The reality is, Thycotic customers fully trust Thycotic's PAM cloud solution to protect access to their most sensitive assets across their business. We pride ourselves on the growing number of organizations that fully utilize Secret Server Cloud in comparison to our competitors."
In addition to its achievement in cloud sales, Thycotic has also seen an overall success in its year-over-year sales in Q1 2019.
Additional highlights from the company include:
- Overall Growth in Sales, Customers and Bookings:
- 60 percent year-over-year sales growth in Q1 2019
- 252 percent year-over-year growth in its Privilege Manager bookings
- 643 percent year-over-year growth in cloud subscription bookings
- Added more than 234 new customers
- Achieved a 93 percent maintenance renewal rate
- Awards and Recognitions:
- New Products, Reports and Industry Publications:
For more information about Thycotic and its solutions, visit https://www.thycotic.com/.
Thycotic is the leading provider of cloud-ready privilege management solutions. Thycotic's security tools empower over 10,000 organizations, from small businesses to the Fortune 500, to limit privileged account risk, implement least privilege policies, control applications, and demonstrate compliance. Thycotic makes enterprise-level privilege management accessible for everyone by eliminating dependency on overly complex security tools and prioritizing productivity, flexibility and control. Headquartered in Washington, DC, Thycotic operates worldwide with offices in the UK and Australia.
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