Cloud identity security firm sees 41% YOY sales growth since corporate merger - The EE

Cloud identity security firm sees 41% YOY sales growth since corporate merger

Art Gilliland of ThycoticCentrify

ThycoticCentrify, a provider of cloud identity security solutions, formed by the merger of the privileged access management (PAM) leaders Thycotic and Centrify, says 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 following the merger of Thycotic and Centrify.

“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,” says 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.

Company highlights:

  • Recorded YoY quarterly sales growth of 41%
  • Added 388 new customers
  • Increased YoY cloud business sales by 136%
  • Partnered with the Identity Defined Security Alliance (IDSA) and the National Cyber Security Alliance (NCSA) to launch the Identity Management Day

In addition, the company 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, and released enhancements to Secret Server, strengthening management of enterprise secrets.

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