Vormetric Raises $15 Million of Growth Capital
Vormetric Raises $15 Million of Growth Capital
Split Rock Leads Round, Fueling Data Security Provider’s Ability to Capitalize on Business Opportunity Resulting from Market Trends of Cloud Adoption, Big Data and Advanced Persistent Threats
SAN JOSE, Calif., June 26, 2013 — /PRNewswire/ — Vormetric, the leading data-centric security solution provider for physical, virtual and cloud environments, today announced $15 million in new funding, led by Split Rock Partners, with existing investors JK&B Capital, Quicksilver Ventures and Sigma Partners also participating. The funds will support Vormetric’s aggressive growth plans in strategic market segments, accelerate the development of category-defining product innovations and fuel international expansion.
Vormetric’s innovative data-centric security solutions address the security requirements of enterprise, service provider and government customers who must contend with serious IT issues surrounding the Cloud, Big Data and Advanced Persistent Threats (APTs) as well as meet growing global compliance regulations. Given these major market trends, organizations of all sizes and types have become laser-focused on data security, searching for better ways to secure their sensitive data and protect their brand’s reputation. Vormetric believes the best way for organizations to protect what matters is to secure sensitive data as close to the source as possible.
“Vormetric is transforming the way enterprises and government organizations approach security,” said Jim Simons, managing director at Split Rock Partners, who is joining Vormetric’s board of directors. “Given how much we’ve read about APTs recently, it’s clear that perimeter security is failing and that servers and privileged users are the big targets. To protect sensitive data such as customer information, financial data, and intellectual property in an era of cloud computing, Big Data and APTs, it is vital to firewall your sensitive data, put in place fine-grained access controls and gather security intelligence to detect unusual behavior patterns. Vormetric Data Security is a category leader that helps its customers to do exactly that, which is why we decided to invest.”
According to Vormetric CEO Alan Kessler, “The growing customer demand we’ve seen over the past year for our data firewall, encryption and key management solutions validates our ‘inside-out’ approach to protecting valuable data. As I said when I joined as CEO, my goal is to grow Vormetric into a data security frontrunner. We will use this new funding to cement our leadership position by addressing high-growth use cases such as the Cloud and Big Data, helping our enterprise and government customers thwart the rising tide of APTs, enhancing our ability to continuously innovate, and further expanding our international footprint.”
Profitable since 2009, Vormetric serves over 1,100 customers in 20 countries worldwide, protecting over 140 petabytes of data. The company’s roster of enterprise and government customers includes 17 of the Fortune 25 and represents four of the top five commercial banks, three of the top five food and beverage companies, three of the top five telecommunications providers, two of the top three diversified financial services companies, and three of the top five healthcare providers. The company also counts IBM and Symantec among its Original Equipment Manufacturer (OEM) partners.
About Vormetric
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 enterprise customers and government agencies protect what matters — their sensitive data — from both internal and external threats. In a world of Advanced Persistent Threats (APTs), Vormetric’s market-leading privileged user access controls and security intelligence are invaluable. The company’s scalable solution suite protects any file, any database and any application — anywhere it resides — while maintaining application performance and avoiding encryption and key management complexity. Many of the world’s largest and most security-conscious organizations and government agencies, including 17 of the Fortune 25, have standardized on Vormetric to protect their sensitive data and provide them with advanced security intelligence. For more information, visit www.vormetric.com.
