Thycotic Acquires Cyber Algorithms

PRESS RELEASE

Washington, D.C. – November 8, 2016 – Thycotic, a provider of privileged account management (PAM) solutions for more than 7,500 organizations worldwide, today announced it has completed the acquisition of Virginia-based Cyber Algorithms, provider of network security analytics. Terms of the deal have not been disclosed.  Cyber Algorithms brings Thycotic some of the most intuitive and easy-to-use cyber security analytics in the market allowing security personnel to detect and thwart intrusions that would otherwise go unseen.  Cyber Algorithms' innovative methods enable customers to focus immediately on high-risk user profiles and behaviors allowing them to detect and thwart intrusions and insider threats.

"While big data analytics provide a wealth of information, knowing which data-set is important requires specialized skills most organizations don’t have," said Jonathan Cogley, CTO and founder at Thycotic. "Cyber Algorithms’ technology cuts through the clutter to quickly identify in-progress attacks and enables organizations to reduce the risk of experiencing a cyber breach." 

Cyber Algorithms is a graduate of the Mach37 Cybersecurity Accelerator, a leading startup accelerator focused on launching early-stage startups in the cybersecurity industry.

"Mach37 is an example of an incubator that helps good companies accelerate their growth," said Philip Vorobeychik of Insight Venture Partners. "Insight hopes to see other companies emerge from future programs." 

About Thycotic

Thycotic, a global leader in IT security, is the fastest growing provider of Privilege Management solutions that protect an organization’s most valuable assets from cyber-attacks and insider threats. Thycotic secures privileged account access for more than 7,500 organizations worldwide, including Fortune 500 enterprises. Thycotic’s award winning Privilege Management Security solutions minimize privileged credential risk, limits user privileges and controls applications on endpoints and servers. Thycotic was founded in 1996 with corporate headquarters in Washington, D.C. and global offices in the U.K. and Australia. For more information, please visit www.thycotic.com.

About Cyber Algorithms

Cyber Algorithms is an innovative provider of user behavior analytics solutions that dramatically reduce the time it takes to detect cyber-attacks.  Cyber Algorithms increases the productivity and effectiveness of valuable security operations teams by enabling them to cut through the noise of thousands of alerts and focus immediately on high-risk user profiles and behaviors. For more information, please visit www.cyberalgorithms.com.

About Mach37

MACH37 is the premier accelerator for information security entrepreneurs and startups. We go beyond the traditional model of typical business accelerators by bringing our innovators focused mentorship and support from our extensive network of visionaries, practitioners, and successful entrepreneurs in security. Our Spring and Fall sessions are designed to propel graduating companies into the marketplace, equipped with the skills to grow and compete for funding and market share. MACH37 was launched in 2013 by the Center for Innovative Technology, in Herndon, Virginia.