Privileged access management (PAM) solution provider Thycotic has seen sales through the channel surge 28% in 2020 due to soaring business demand for PAM products worldwide.
Kali Linette, writing for Thycotic, said that Thycotic had also added products and moved to help channel partners meet the demand. Already, Thycotic boasts 12,500 organisations as customers around the globe, including 25 in the Fortune 100.
Bob Gagnon, vice president of channel sales for North America at Thycotic, said: “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.”
New offerings for 2020 included Identity Bridge, Remote Access Controller, Cloud Access Controller and Database Access Controller, protecting access to SaaS applications and IaaS infrastructure on-premises and remotely.
Linette said that Thycotic had achieved a 17% increase in partner deal registrations and 57% rise in the value of channel sales opportunities alongside the rollout of its new Trusted Advisor programme and ongoing professional services and partner enablement.
Overall, Thycotic has reported a strong year, with 50% year-over-year sales growth for 2020, including 320 new customers in the final quarter alone.
The company enjoyed an 87% expansion of sales of cloud-related solutions and acquired another PAM company, Onion ID.
James Legg, president and CEO at Thycotic, said the year had seen “unparalleled challenges” and a shift to remote work across many industries.
“Our PAM solutions were purpose-built to secure and support a remote workforce and cloud environments without negatively impacting productivity,” he noted.