Vormetric Reports 28% Year over Year Growth for 2014
Sees acceleration in Second Half with 32% year over year growth – 4X Security market rate as reported by Gartner for 2014
SAN JOSE, Calif. – January. 21, 2015 – Vormetric, a leader in enterprise data security for physical, big data, public, private and hybrid cloud environments, today announced 28% year-over-year growth in revenues for 2014, with accelerated growth in the second half of 2014 at 32% year-over-year growth. Second half growth exceeded by 4X the 2014 Security Software Market growth forecast by Gartner for 2014. The company attributes its growth to strong data security platform product offerings, continued new customer acquisition, extended penetration within its existing customer base and greater market recognition of the need to protect data across enterprise’s internal, cloud and SaaS implementations.
"Enterprises are fundamentally realigning their IT Security postures to support new technology environments like cloud, SaaS and big data, to offset enhanced threats and to meet increasingly strict compliance and legal standards,” said Alan Kessler Vormetric’s president and CEO. “The result is a new focus on protecting data, wherever it resides, and our solutions provide critical defenses and security controls needed to help meet these needs."
Additional Vormetric business highlights for 2014 include:
The 2014 Vormetric Insider Threat Report European and Australian Editions detailed the results of a survey encompassing more than 800 IT decision–makers about issues concerning insider threats and compromises of insider credentials
- Cloud Expansion: Key cloud partnerships with Rackspace, IBM Cloud Marketplace, and Google that greatly enhance cloud go-to-market opportunities.
- Big Data Expansion: Vormetric has become the data-at-rest protection partner of choice for big data, and added expanded relationships with industry leaders Couchbase, DataStax, Hortonworks and MongoDB.
- Product Expansion: The launch of Vormetric Application Encryption on the Vormetric Data Security Platform - Extending the platform with powerful capabilities for encrypting data within enterprise and web applications.
- Channel Expansion: An enhanced, multi-tier channel program for partners – Reflecting a doubling in channel sales by Vormetric over the past two years and positioning channel partners for success and growth
- Global Expansion: Began operations in Germany, Australia and Singapore while also increasing international presence through new distribution relationships with AZM in Japan and M-Tech in the Asia-Pacific Region
- Awards and Thought Leadership: Vormetric Transparent Encryption won the SC Magazine Award for Best Encryption Solution. The Vormetric Data Security Platform won the Best of VMworld Gold Award for Security and Compliance in Virtual Environments. Vormetric was named to the Deloitte Fast 500 for the second year in a row.
"2014 was also another year of continued record data breach news,” added Kessler. “Our recent 2015 Vormetric Insider Threat report showed that enterprises of all types have fundamental problems in meeting their data security requirements – with 40% globally experiencing a data breach or failing a compliance audit in the last year. Our enterprise-ready data security platform products are proven solutions that protect data-at-rest, help organizations meet compliance mandates and reach past simple compliance to actively identify and combat attacks on their data."
Vormetric (@Vormetric) is the industry leader in data security solutions that protect data-at-rest across physical, big data and cloud environments. Vormetric helps over 1500 customers, including 17 of the Fortune 30, to meet compliance requirements and protect what matters — their sensitive data — from both internal and external threats. The company’s scalable Vormetric Data Security Platform protects any file, any database and any application’s data —anywhere it resides — with a high performance, market-leading solution set.
Jonathan Mathias / Kasia
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VormetricTeam@johnsonking.co.ukVormetric South Korea
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