Vormetric Announces Record Financial Results for 2011
Leading Enterprise Encryption and Key Management Vendor Grows Revenues 40%; Protects Data for 15 Fortune 25 Companies
SAN JOSE, Calif. - Jan. 26, 2012 - Vormetric, Inc., the leader in enterprise encryption and key management, today announced its third consecutive year of profitability, record revenues and accelerated customer adoption for the 2011 calendar year. The company grew revenues by 40 percent and nearly doubled its new customer acquisition rate year over year. Vormetric continued to expand its share of the large enterprise market with 15 of the Fortune 25 now using its technology. Customers use Vormetric to protect their databases and unstructured data against all types of attacks and meet regulatory compliance requirements for PCI DSS, HIPAA HITECH and state data breach laws.
"As a result of high profile attacks by extremely sophisticated perpetrators, major corporations are proactively making the decision to encrypt and protect sensitive data in the enterprise with centralized key management and very tight access controls," said Richard Gorman, president and CEO of Vormetric. "We are successfully providing our solution to all types of organizations including some of the largest companies in the world to protect their most important information."
Last year, the importance of data security was underscored by some of the largest database leaks in history. According to a recent report from the Privacy Rights Clearinghouse, 535 breaches occurred in 2011, involving 30.4 million sensitive records. Sony, Stratfor, and Epsilon were among the worst incidents.
Some of Vormetric's 2011 highlights include:
- Revenues increased 40 percent year over year
- Achieved third consecutive year of profitability
- Nearly doubled its new customer acquisition rate
- Successfully completed the first stage of an 18,000 server deployment at a Fortune 10 enterprise
- Successfully deployed over 5,000 servers at a top three US bank
- Successfully deployed over 2,500 servers at one of the top healthcare companies in the world
- Added Brian NeSmith, visionary technology entrepreneur and former CEO of Blue Coat Systems and Ipsilon Networks, to the Board of Directors
- Introduced Vormetric Data Security for SAP
- Launched Vormetric Data Security for Amazon Web Services (AWS), extending Vormetric Data Security capabilities to the public cloud
- Announced Vormetric Key Management to manage encryption keys across the enterprise including Transparent Data Encryption (TDE) for Oracle and Microsoft SQL Server
- Joined Cloud Security Alliance (CSA) to help shape data protection best practices and standards for cloud environments
"Our ability to secure structured and unstructured data in physical, virtual, and cloud environments, and manage encryption keys used by our products, along with keys for databases including Oracle and SQL Transparent Data Encryption, is unmatched in the industry. Customers choose Vormetric as their enterprise standard because we can meet all their encryption needs with one platform," concluded Mr. Gorman.
Vormetric is the leader in enterprise encryption. The Vormetric Data Security product line provides a single, manageable and scalable solution to manage any key and encrypt any file, any database, any application, anywhere it resides - without sacrificing application performance and avoiding key management complexity. Some of the largest and most security conscious organizations and government agencies in the world, including 15 of the Fortune 25, have standardized on Vormetric to provide strong, easily manageable data security. Vormetric technology has previously been selected by IBM as the database encryption solution for DB2 and Informix on Linux™, Unix® and Windows; and by Symantec to provide the Symantec Veritas NetBackup™ Media Server Encryption Option. For more information, visit www.vormetric.com.
Marc Gendron PR