Cloud Identity Security Leader Sees 41% Year-Over-Year Sales Growth and Almost 400 New Customer Acquisitions Following Corporate Merger
REDWOOD CITY, Calif. and WASHINGTON, July 22, 2021 /PRNewswire/ -- ThycoticCentrify, a leading provider of cloud identity security solutions formed by the merger of the privileged access management (PAM) leaders Thycotic and Centrify, today announced that the company has wrapped Q2 with a 41% increase in year-over-year sales, a 136% increase in year-over-year cloud sales, and the addition of 388 new customers during the quarter.
With merger integration ongoing, ThycoticCentrify continues to capture significant industry market share while also delivering differentiated new solutions to meet the evolving needs of its unified customer base. In addition, Thycotic and Centrify were both separately recognized again as Leaders in the 2021 Gartner Magic Quadrant for PAM, concluding an evaluation process begun prior to the announced merger that focused on ability to execute and completeness of vision.
"Our merger has not slowed us down and ThycoticCentrify continues to deliver for our customers. The remarkable growth in Q2 demonstrates our customer focus and delivery against the strong demand for ThycoticCentrify's privileged access management and identity security solutions," said Art Gilliland, CEO, ThycoticCentrify. "In particular, a 136% increase in year-over-year cloud sales validates our position that PAM solutions should be built in the cloud, for the cloud to meet modern business needs."
"As increasing cyberattacks continue to plague businesses and U.S. critical infrastructure, our mission has never been clearer. We will continue to bring the best-in-class, cloud-ready PAM products to market to help current and future customers scale their data security capabilities, monitor and control network access, and deter the dangers of insider threats and ransomware attacks," Gilliland continued.
Key company highlights:
Announced ThycoticCentrify with successful integration momentum throughout the quarter
Recorded YoY quarterly sales growth of 41%
Added 388 new customers
Increased YoY cloud business sales by 136%
Successfully completed SOC 2 Type ll Compliance Recertification
Published new free eBook, "Definitive Guide to Securing Privileged Access," in conjunction with CyberEdge Group
Launched a new certification program for Thycotic Privilege Manager to improve endpoint security
Partnered with the Identity Defined Security Alliance (IDSA) and the National Cyber Security Alliance (NCSA) to launch the first-ever Identity Management Day
Notable product innovation:
Debuted a new cloud solution at RSA Conference 2021 to govern and manage privileged access to cloud platforms
Released new versions of DevOps Secrets Vault to strengthen security and compliance in DevOps with advanced reporting capabilities
Announced new security capabilities and enhancements to Thycotic Privilege Manager
Released enhancements to Secret Server, strengthening management of enterprise secrets
Prestigious industry recognition:
Centrify was named a winner of the Global InfoSec Awards at RSA Conference 2021
ThycoticCentrify channel leaders Katie McCroskey and Kara Trovato were named to CRN's 2021 Women of the Channel List
Thycotic won a third consecutive NorthFace ScoreBoard Award́ for Excellence in Customer Service
ThycoticCentrify is a leading cloud identity security vendor, enabling digital transformation at scale. ThycoticCentrify's industry-leading privileged access management (PAM) solutions reduce risk, complexity, and cost while securing organizations' data, devices, and code across cloud, on-premises, and hybrid environments. ThycoticCentrify is trusted by over 14,000 leading organizations around the globe including over half of the Fortune 100, and customers include the world's largest financial institutions, intelligence agencies, and critical infrastructure companies.
© Thycotic Software, LLC and Centrify Corporation 2021. ®Centrify and ®Thycotic are registered trademarks of Centrify Corporation and Thycotic Software, LLC respectively. All other trademarks are property of their respective owners.
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