Vormetric Posts Record Financial Results for First Half 2012
Leading Enterprise Encryption and Key Management Vendor Grows Sales 43%; Protects Data for 16 Fortune 25 Companies
SAN JOSE, Calif. – July 25, 2012 – Vormetric, Inc., the leader in enterprise encryption and key management for physical, virtual and cloud environments today announced record sales, continued profitability and accelerated customer adoption for the first half of 2012. The company grew sales by 43 percent during the first half of 2012 compared to the same period last year. Vormetric continued to significantly expand its share of the large enterprise market with 16 of the Fortune 25 now using its technology to protect databases and unstructured data against all types of attacks and meet regulatory compliance requirements including PCI DSS, HIPAA HITECH, UK Data Protection Act, and state data breach laws.
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“Targeted attacks, data breach disclosure laws and regulatory mandates are all accelerating widespread adoption of enterprise encryption and key management for physical, virtual and cloud environments,” said Richard Gorman, president and CEO of Vormetric. “Vormetric’s ability to provide transparent encryption, access control and key management that does not require any changes to existing applications and databases has played a key role in helping us capture a lion’s share of the market in the first half of this year, especially among companies with large volumes of structured and unstructured data in SAP, Peoplesoft and other enterprise systems.”
According to the Privacy Rights Clearinghouse, during the first half of 2012 there were 266 breaches that affected more than 18.5 million records and exposed major brands such as Zappos and LinkedIn to public scrutiny for their security practices.
Some of Vormetric’s first half 2012 highlights include:
- Increased sales 43 percent
- Continued three and a half year run of profitability
- Expanded into Europe, Middle East and Africa (EMEA) with the opening of a UK office
- Introduced and shipped Vormetric Encryption v5 which includes support for Intel® AES-NI encryption acceleration technology
- Shipped Vormetric Key Management to manage encryption keys across the enterprise including support for Transparent Data Encryption (TDE) for Oracle and Microsoft SQL Server
- Announced support for Big Data frameworks including Hadoop, Cassandra, and MongoDB
- Appointed key leadership to scale Vormetric’s business including Tina Stewart as VP of Marketing and Derek Tumulak as VP of Product Management
“Customers are choosing to standardize on Vormetric for enterprise encryption and key management because they can achieve a consistent security posture and operational efficiency. We provide an extensible platform that can protect structured and unstructured data at rest anywhere, including cloud and Big Data environments, with centralized policy management,” concluded Mr. Gorman.
Vormetric (@Vormetric) is the leader in enterprise encryption for physical, virtual and cloud environments. 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 16 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 LinuxTM, Unix® and Windows; and by Symantec to provide the Symantec Veritas NetBackupTM Media Server Encryption Option. For more information, visit www.thalesesecurity.com.
Vormetric is a trademark of Vormetric, Inc. All other names mentioned are trademarks, registered trademarks or service marks of their respective owners.