Vormetric Financial Results Highlight Rapid Growth within Data Security Market

SAN JOSE, Calif. -- (BUSINESS WIRE) -- Vormetric, the leader in enterprise data security for physical, virtual and cloud environments, today announced continued sales growth, profitability and accelerated customer adoption for 2012. The company grew sales by 46 percent year over year and continued its rapid expansion in the large enterprise market, adding two more Fortune 25 companies to its client roster. Today, 17 of the Fortune 25 rely on Vormetric’s data security solutions to ‘protect what matters’ from ground to cloud.

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“In the past year, we have made fantastic progress in our quest to become the front-runner within the data security segment,” said Alan Kessler, Vormetric’s president and CEO. “There are really only two kinds of data in the world: the kind that someone wants to steal, and everything else. Threats to that sensitive data come in many forms, from Advanced Persistent Threats to outside hackers to malicious insiders. Our ability to protect the data that matters — at its source — with advanced security technologies played a key role in accelerating our market momentum in 2012, especially among enterprises with large volumes of sensitive data and security materials. When security intelligence, scale and high performance are critical decision factors, Vormetric is the logical choice.”

Additional Vormetric business highlights for 2012 include:

• Added commitment to international markets with the establishment of offices in the UK and South Korea
• Extended global footprint with Vormetric Data Security deployed in 20 countries around the world
• Accelerated customer acquisition with a 76 percent annual growth rate over 2011
• Expanded installed base of customers using Vormetric technology that now exceeds 1000 organizations, including:
  • 4 of the top 5 commercial banks
  • 3 of the top 5 consumer food & beverage companies
  • 2 of the top 3 wholesale healthcare providers
  • 2 of the top 3 diversified financial companies
  • 2 of the top 3 grocery and drug stores
• Key leadership team additions, including:
  • Cloud and enterprise security software veteran Alan Kessler as new CEO
  • Government industry veteran Wayne Lewandowski as head of the company’s Federal team
  • Data security and compliance expert Derek Tumulak as Vice President of Product Marketing
  • Digital marketing and branding expert Tina Stewart as Vice President of Marketing
• Completion of four full years of profitable operations

Data security was a top-of-mind issue in 2012 thanks to a steady drumbeat of security breaches, the most notable of which was the South Carolina Department of Revenue in September, where some 3.8 million taxpayers had Social Security and/or credit and debit card numbers exposed because personal information was stored unencrypted on state computers. According to the Privacy Rights Clearinghouse, there were 680 breaches across the entire year — an average of almost two per day — that affected more than 27 million records.

“Data is the new currency, and there is no such thing as an unbreachable perimeter on premise or in the cloud,” Kessler added. “As organizations of all sizes are migrating to the cloud, data security looms large. Our solutions play a central role in the cloud security ecosystem precisely because they thwart the efforts of those trying to breach the system. Inevitably, some will get in, but even if they do, they will not be able to get to the data they want. We are seeing such positive financial results because our advanced data security platform helps enterprises minimize business risk from the datacenter to the cloud, by providing protection as close to the sensitive data as possible.”

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 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.

Vormetric is a trademark of Vormetric, Inc. All other names mentioned are trademarks, registered trademarks or service marks of their respective owners.