Thycotic Records Strong 2020 Channel Sales Growth as Demand for PAM Solutions Accelerates

WASHINGTON, Feb. 8, 2021 /PRNewswire/ -- Thycotic, a provider of privileged access management (PAM) solutions to more than 12,500 organizations worldwide, including 25 of the Fortune 100, today announced a 28 percent increase in worldwide channel sales in 2020. This growth stems from the accelerating business demand for PAM solutions globally and Thycotic's recent channel partner advancements, including new educational initiatives, enhanced customer service and marketing support for partners.

In 2020, Thycotic added several new products to its PAM portfolio, including the launch of Identity Bridge, Remote Access Controller, Cloud Access Controller and Database Access Controller. These solutions expanded the company's PAM use cases by protecting access to SaaS applications and IaaS infrastructure while also ensuring remote workers stayed productive and secure. These product launches empowered Thycotic's channel partners to offer clients a full suite of PAM solutions to secure their privileged access. This, combined with systematic enhancements and investment in channel support processes and procedures, has helped accelerate Thycotic's worldwide channel strategy over the past 12 months.

"We invested a significant amount of resources into refining and enhancing our channel strategy in 2020, including the launch of several technical certification programs and the development of more comprehensive marketing and customer service support for partners," said Bob Gagnon, Vice President of Channel Sales for North America at Thycotic. "These new initiatives, along with our existing practices, have contributed to the outstanding channel results we recorded last year."

Highlights of Thycotic's 2020 channel performance also include:

• 28 percent growth in channel sales from global markets
• 17 percent increase in partner deal registrations
• 57 percent increase in the value of channel sales opportunities
• 764 percent increase in Thycotic Technical Certifications, advancing the professional capabilities of our partners and their expertise in PAM solutions
• Successful rollout of new "Trusted Advisor Program" offering consultants lucrative incentives for influencing the advancement of Thycotic solutions
• Continued success of professional services and partner enablement programs
• Members of Thycotic's channel leadership team were recognized by CRN in several award programs in 2020, including Channel Chiefs and Women of the Channel
• CRN also recognized Thycotic's Partner Program as a 5 Star Winner in the CRN Partner Program Guide

"iSecurity's partnership with Thycotic is highly beneficial to our customers," notes Julien  Boninfante,  Director of Infrastructure at iSecurity. "We recommend Thycotic to our customers as a leading PAM solution, and it's turned out to be a perfect fit for their needs. Thanks to Thycotic, more of our HealthCare customers have adopted PAM in their environment, helping Canadian citizens' health information stay safe."

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

About Thycotic

Thycotic is the leading provider of cloud-ready privilege management solutions. Thycotic's security tools empower over 12,500 organizations, from small businesses to the Fortune 100, 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. For more information, please visit www.thycotic.com.

For further information, please contact:

Allison ArvanitisLumina CommunicationsT: 910-690-9482E: [email protected]

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SOURCE Thycotic