Vormetric Continues To Outpace Data Security Market with 40 Percent Year-over-Year Growth in the Second Quarter
— Safeguarding Data with Data Firewall & Privileged User Access Controls —
SAN JOSE, Calif., July 31, 2013 /PRNewswire/ -- Vormetric, the leader in enterprise data security for physical, virtual and cloud environments, today announced accelerated customer adoption and resultant sales growth year-over-year for the second quarter of 2013. The company grew sales by 40 percent year-over-year, while continuing its rapid expansion into the large enterprise market increases over the second quarter of 2012. Today, 17 of the Fortune 25 protect sensitive data from their data centers to the cloud with Vormetric's data security solutions.
"This is a new era of data security – one where it makes more sense to focus efforts on securing data and less on securing a perimeter that has almost certainly already been breached. The success we've seen this last quarter speaks to both the superiority of our solutions and our team's ability to execute on the vision to Protect What Matters – the data," said Alan Kessler, Vormetric's president and CEO. "As more organizations migrate sensitive data to the cloud, protecting that data at the source becomes increasingly important. Our Vormetric Data Firewall™ technology is shaping the emerging data security market by ensuring that privileged insiders, or those trying to steal their credentials, won't gain access to sensitive information. This has played a key role in our success so far in 2013."
Additional Vormetric Business highlights for 2013 include:
- Sustained, significant, growth in the Asia Pacific region, including a partner agreement with IISI for Taiwan
- Continued rapid growth in the EMEA market, including a partner agreement with Executive Networks for Spain
- Channel sales program continued its rapid growth outpacing overall revenue growth
- $15 million growth funding closed, led by Split Rock Partners, with existing investors JK&B Capital, Quicksilver Ventures and Sigma Partners also participating.
Ongoing attacks of major brands, academic institutions and federal agencies clearly demonstrate that data security is a problem that looms large in today's society and continues to rise at an alarming pace. The primary culprit remains organization's use of outdated approaches to secure sensitive data by using an "outside-in" approach to security when, really, they should instead focus on securing the data first, taking an "inside-out" approach. The best way to do this is to encrypt the data in a way that ensures controlled access to data for privileged users, enabling every user the access they need to do their job properly, but nothing more.
"Securing the network perimeter itself is important but not sufficient. Today's headlines point to the sophistication of today's adversaries. They are inside the perimeter and seeking to modify or steal data. Far too much is invested in fighting today's battles using yesterday's tactics as we try to defend the perimeter of the network," Kessler added. "The Edward Snowden situation has made it clear: insider threats are a huge danger for organizations of all kinds, and they're on the rise. Until those organizations begin to deploy technologies that secure data at the source and limit the capabilities of privileged users, breaches will continue to grab headlines and costs will continue to escalate."
Vormetric (@Vormetric) is the industry leader in data security solutions that span physical, virtual and cloud environments. Data is the new currency and Vormetric helps over 1100 customers, including 17 of the Fortune 25 and many of the world's most security conscious government organizations, to meet compliance requirements and protect what matters — their sensitive data — from both internal and external threats. The company's scalable solution suite protects any file, any database and any application — anywhere it resides — with a high performance, market-leading data firewall that incorporates application transparent encryption, privileged user access controls, automation and security intelligence.
Vormetric is a trademark of Vormetric, Inc. All other names mentioned are trademarks, registered trademarks or service marks of their respective owners.
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