Cloud Identity Security Leader Sees 41% Year-Over-Year Sales Growth and Almost 400 New Customer Acquisitions Following Corporate Merger

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:

• Thycotic was named Gold Winner of the ‘Hot Company of the Year - Cloud/SaaS’ category in the 16th Annual IT World Awards^®. The company was also named a Bronze Winner of the ‘Cloud Security’ category

●      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