Thycotic Closes Out 2017 with Record Growth

WASHINGTON, Jan. 16, 2018 /PRNewswire/ -- Thycotic, a provider of privileged account management (PAM) solutions for more than 7,500 organizations worldwide, has ended an epic 2017, outperforming previous years by ending with 60 percent year-over-year sales growth. In addition to this incredible growth, in Q4 alone, the company added more than 160 new customers. Thycotic's continued success is attributed to continued recognition for enterprise-class PAM products that deliver immediate value, superior customer satisfaction, and a consistent addition of new customers seeking technologies to keep their privileged accounts safe from cyber-attacks.

"Every year I see the growth that our company has achieved and think it is the best yet," said James Legg, President and CEO. "I am consistently in awe by how much we are able to accomplish in just 12 months and the growth we are seeing is astonishing. With a sales growth of 60 percent in 2017, I only see this as continued motivation for my team to bring forth the innovation in cybersecurity that is much needed in a world full of cyber criminals trying to steal privileged accounts."

Highlights of Thycotic's overall 2017 performance include:

    --  60 percent year-over-year sales growth in 2017
    --  More than 160 new customers added in Q4 alone - bringing the total
        number of customers added in 2017 to 725+
    --  96 percent maintenance renewal rate in Q4
    --  Significant momentum in its channel model with 44 percent of total Q4
        new license sales contribution from partners
        --  Released Privilege Ready Program partner ecosystem, which supports
            more than 20 security vendors to organize their existing IT
            infrastructure.
    --  IT security professionals downloaded over 42,000 Thycotic's Free tools,
        including:
        --  Secret Server Cloud for privileged accounts, protecting
            organizations most valued asset, created a free version with vault
            capabilities and an active integration for up to 100 users
        --  Privilege Manager for Windows providing organizations with the
            highest secured malware protection by enabling them to run only
            those applications that are both required and trustworthy
        --  Released industries first free PAM Risk Assessment Tool, a tool for
            organizations to complete an official, standards-based assessment to
            obtain their risk score on their PAM security
        --  Launched Free Browser Stored Password Discovery Tool, a fast, free
            tool that gives IT security professionals an easy way to identify
            browser-stored passwords.
    --  Received 14 industry recognitions, which include:
        --  Ranked number 321 Fastest Growing Company in North America on
            Deloitte's 2017 Technology Fast 500
        --  Named in Inc. 5000's Fastest Growing Company list for the fifth year
            in a row
        --  Ranked No. 15 on Cybersecurity Ventures' Cybersecurity 500 list, up
            from No. 18 last year
        --  451 Research Group featured Thycotic's new Privilege Behavioral
            Analytics product and highlighted the power of this newest version.
        --  Named an overall leader by KuppingerCole in its Privilege Management
            report
    --  Delivery of four industry research reports, including:
        --  Thycotic's report on the Current and Future State of Password
            Security - reporting that a total of 300 billion passwords will be
            at risk by 2020.
        --  Security Measurement Index Report, showing organizations how IT
            security effectiveness compares to best practices and those of peers
        --  2017 Black Hat Survey, where hackers revealed what cybersecurity
            technologies are obsolete and the easiest way to access sensitive
            data
    --  Expansion of executive team:
        --  Welcomed Michelle Hayes to the team as Thycotic's Vice President of
            Human Resources
        --  Appointed Nick Margarites as new Chief Financial Officer to expand
            the company's global growth

To learn more about Thycotic, please visit https://thycotic.com/and follow Thycotic on Twitter at @Thycotic.

About Thycotic
Thycotic, a global leader in IT security, is the fastest growing provider of Privilege Management solutions that protect an organization's most valuable assets from cyber-attacks and insider threats. Thycotic secures privileged account access for more than 7,500 organizations worldwide, including Fortune 500 enterprises. Thycotic's award winning Privilege Management Security solutions minimize privileged credential risk, limits user privileges and controls applications on endpoints and servers. Thycotic was founded in 1996 with corporate headquarters in Washington, D.C. and global offices in the U.K. and Australia. For more information, please visit www.thycotic.com.

For further information, please contact:

    Steve Kahan                 Jacqueline Velasco

    Thycotic                    Lumina Communications

    T: 202-802-9399             T: 408-680-0564

    E: steve.kahan@thycotic.com E: thycotic@luminapr.com

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SOURCE Thycotic