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Thycotic Achieves 240% PAM SaaS Sales Growth

November 21, 2018

Thycotic has realized tremendous growth of its cloud business, led by 240 percent year-over-year sales growth for its PAM Software-as-a-Service offering, Secret Server Cloud. With the 10.5 release of Secret Server Cloud earlier this year, Thycotic became the leading fully-featured PAM solution available both on premise and in the cloud. This November, the company began the rollout of a new user interface and experience for Secret Server, debuting in this Fall Edition.

This continued momentum speaks to a significant market opportunity and customer demand for cloud-based, enterprise-grade PAM that eliminates the management burden of on-premise infrastructure. According to research from Gartner, 30 percent of all new PAM deployments will be cloud-based by 2019.

“The cloud is becoming the preferred choice for procuring IT services for companies of all sizes, including security services,” says Principal Analyst Martin Kuppinger of KuppingerCole. “Organizations are demanding a high level of scalability, speed, and security for their PAM deployments. In consequence, we observe a steep increase in interest and adoption of cloud-based deployments for that type of solutions. Particularly for organizations that have chosen to head down a cloud-first path, having PAM software in the cloud streamlines integration and key processes.”

Secret Server Cloud is available in three editions:

Vault Edition

•Designed for small and medium-sized business and department-level teams

•Automatically discovers, vaults, and manages privileged accounts

•Integrates with Active Directory and provides mobile app to manage privileged access from anywhere

Professional Edition

•Automates password rotation and verification

•Delivers granular policy control across all devices and teams, and secure proxying to gate all privileged sessions

•Integrates with CRM, SAML, VSI, and AWS KMS (key management) solutions

Platinum Edition

•Manages and protects service accounts, DevOps workflows, and Unix infrastructures

•Delivers full-fidelity privileged session monitoring and recording

•Includes Privileged Behavior Analytics, an AWS-based machine learning engine that can detect and remediate suspicious activity

“CISOs are increasingly recognizing that cloud-based technologies are critical to their long-term PAM and IAM programs,” said Jai Dargan, Vice President of Product Management at Thycotic. “Security concerns still remain the overriding barrier to adoption of new technologies on public cloud infrastructures. Thycotic’s Secret Server gives these companies the confidence and trust to protect, monitor and manage privileged accounts, whether on prem or in the cloud.”

Thycotic’s Secret Server Cloud customers are first to experience the product’s new user interface, which will be rolling out to the entire Secret Server community over the coming months. This update reflects Thycotic’s commitment to providing usable security solutions to a growing user base of security professionals who prefer more intuitive software solutions.

Features of the new UI include:

•A modern, clean interface that eliminates distractions so users can focus on priority tasks

•New styles that indicate the next step to advance workflow

•Drag-and-drop dashboard modules that allow for customization

•Context-sensitive elements that appear only when users need them
 

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