Vormetric Generates two Consecutive Record-Setting Quarters
Data Security Leader Achieves Rapid Growth with Widespread Customer Adoption
SANTA CLARA, Calif. – November 11, 2008 – Vormetric, Inc., the leader in data security management and enforcement solutions, today announced the completion of two consecutive record-setting quarters driven by a wave of new customers and existing customer expansions in 2008 year to date. Vormetric’s all-time record-breaking second quarter was bested by all-time record-breaking sales in the third quarter, completed September 30, 2008.
In addition to record-breaking sales, Vormetric added a record number of new customers and had a record number of existing customers expand their implementations in 2008 year to date. New customers selected Vormetric over native and third-party database and file encryption based on superior key management, performance, time to implement, solution breadth and total cost of ownership (TCO). Customers are designating Vormetric Data Security as the enterprise standard for encryption across heterogeneous systems. As an enterprise standard, Vormetric Data Security eliminates enterprise key management headaches and ensures consistent data security across the enterprise.
Vormetric attributes this success to surging demand for its high-performance and centrally-managed encryption solutions for databases, files and applications. Vormetric saw market growth stem from increases in enterprise consumer information protection projects in addition to growing needs to protect intellectual property. Vormetric offers the only transparent and centrally-managed encryption, access control and key management solution for any file, any database and any application. Vormetric simplifies enterprise encryption through eliminating the need to make invasive changes to systems, providing strong separation of duties and centralizing key and policy management across all encrypted systems.
“While Vormetric has achieved remarkable growth this year, the real celebration is the validation that companies are recognizing the need for a strong data security strategy and taking the steps to make that a reality,” said Richard Gorman, CEO and President of Vormetric. “The success of two consecutive record-setting quarters underscores Vormetric’s strong value as a corporate standard for highperformance data encryption and data security management. In the remainder of FY08 and moving into FY09, we anticipate even more traction with expected increases in regulatory oversight, the growing insider threat, and enterprises expansions beyond PCI DSS projects into broader customer information protection initiatives that require a consolidated, high-performance approach.”
Vormetric’s customer base is representative of industries that maintain large amounts of customer information, intellectual property and sensitive data, such as IT outsourcing, business process outsourcing, insurance, consumer goods and services, government and manufacturing. Vormetric’s 500 plus customers include Prudential, Carlson, eBookers, a top five US bank, one of the largest US wireless providers, two of the world’s largest IT outsourcing providers, MetaBank, Classified Ventures and TRX.
Vormetric is the leader in data security management and enforcement solutions. Vormetric's applicationand database-transparent solution outperforms other offerings to provide stronger and broader data security at a fraction of the management and implementation cost. Vormetric's more than 500 customers represent the world's most trusted brands, outsourcing providers and highly security conscious government agencies. Vormetric technology has received strong market validation for its innovative approach to data security, including:
- Selection by IBM as the core database encryption solution for DB2 and Informix on LinuxTM, Unix® and Windows
- Computerworld Technology Innovation Award
- Selection by Symantec to provide the Symantec Veritas NetBackupTM Media Server Encryption Option
- Partnership with Oracle to secure the execution environment for Oracle® Database Vault
- Five patents issued and nine patents pending
Vormetric is a trademark of Vormetric, Inc. All other names mentioned are trademarks, registered trademarks or service marks of their respective owners.