Private equity firm Insight Partners is preparing to sell Thycotic, a privileged account management (PAM) security software provider, PE Hub reports.
Insight Partners invested in Thycotic in July 2015, though dollar and valuation details were not disclosed. At the time of the investment, Thycotic had driven 141% year-over-year growth since 2011, and was serving more than 3,000 customers worldwide.
More recently, Thycotic has been busy on the partner front -- working closely with multiple Top 250 MSSPs -- including Deloitte, Ernst & Young, and PwC. Additional relationships have included BlackBerry Cylance and IBM Security.
Thycotic Secret Server for PAM Services: Product Details
Thycotic's flagship product is Secret Server -- which allows partners to deliver PAM services across their customers’ on-premises and cloud environments. Secret Server’s features include:
- Privileged credential storage and encryption;
- the ability to manage multiple databases, software applications, hypervisors, network devices and security tools; and
- out-of-the-box auditing and reporting.
Along with Secret Server, Thycotic offers Account Lifecycle Manager, Privileged Behavior Analytics and other PAM solutions. MSSPs can integrate Thycotic’s PAM solutions into their portfolios and use them to develop new security services, the company has indicated.
MSSP Alert has not independently confirmed the PE Hub report about Insight Partners prepping Thycotic for sale.
