Thycotic, a Washington DC-based provider of privileged account management solutions for global organizations, received an investment from New York-based private equity and venture capital firm Insight Venture Partners.
The terms of the deal were not disclosed.
The company intends to use the funds for continued global expansion and product innovation. In conjunction with the funding, Mike Triplett, managing director and Philip Vorobeychik, senior associate will join Thycotic’s board of directors.
Led by Jonathan Cogley, founder and CEO, Thycotic provides IT security solutions for privileged account management to over 3,000 companies including members of the Fortune 500, enterprises, government agencies, technology firms, universities, non-profits and managed service providers.