Thycotic Records Strong 2020 Momentum for Cloud-based Privileged Access Management

Washington, DC., February 2, 2021 – Thycotic, a provider of Privileged Access Management (PAM) solutions to more than 12,500 organizations worldwide, including 25 of the Fortune 100, today announced its 2020 success in cloud-based PAM, recording an 87 percent year-over-year increase in cloud sales growth along with the addition of more than 500 new cloud customers, bringing the total to over 1200. The company’s cloud success over the past year includes the launch of several new cloud security products, extended cloud support capabilities for existing solutions, numerous award recognitions for its signature Secret Server Cloud and more. 

Most notably, last year the company acquired privileged access solution provider Onion ID, extending its cloud leadership in the PAM industry. With this acquisition, Thycotic strengthened its range of innovative cloud access control solutions, adding three new products: Thycotic Remote Acces Controller, Thycotic Cloud Access Controller, and Thycotic Database Access Controller. Thycotic also unveiled significant updates to Secret Server Cloud and Privilege Manager Cloud with new features that increase productivity and usability. 

Thycotic’s additional 2020 cloud-based accomplishments include:

• Launched its cloud PAM solutions via its new local data center in Canada, joining existing data centers in the USA, Germany, Singapore, and Australia
• Released Secret Server and Secret Server Cloud v10.8
• Unveiled Privilege Manager and Privilege Manager Cloud v10.8
• Achieved Type 2 Service Organization Control (SOC 2) examination for Secret Server Cloud and Privilege Manager Cloud
• Successful competition of an audit for ISO 27001 and SOC Type 2 attestations
• Announced extended support for Google Cloud and Azure in Secret Server 10.9
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• Enhanced Account Lifecycle Manager solution with ServiceNow integration
• Added new integrations to DevOps Secrets Vault including UIPath Orchestrator, HashiCorp Terraform, Red Hat Ansible along with new just in time functionality 
• Achieved a 5/5 rating for SaaS/Cloud by an independent research firm in the Forrester Wave Report 
• Named a winner of the Cloud Computing Excellence Award, presented by Cloud Computing Magazine
• Released Privileged Access Cloud Security for Dummies eBook 

“The rapid acceleration of digital transformation initiatives and soaring cloud adoption rates globally in response to the pandemic and a remote workforce means that more organizations are seeking privileged access solutions that are purpose-built to support cloud environments,” said James Legg, President, and CEO at Thycotic. “As a company, the development of cloud-ready PAM solutions has been a core part of our strategy and mission over the last few years and in 2020, we continued to build on this, growing and expanding our offerings.”