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Voltage Security Reports Growth For First Half Of Fiscal '09
Total contract value of deals in the first half grows by more than 70%
August 26, 2009
5 Min Read
PRESS RELEASE
Palo Alto, California"August 25, 2009"Voltage Security, Inc. (www.voltage.com), the global leader in end-to-end data protection, today announced another record finish to the first half of their fiscal year ended July 31, 2009. The period ended with the highest revenue quarter in the company's history, a 35% growth over the same period last year. In addition, the company was cash flow positive from operations and profitable for the quarter. Total contract value of deals in the first half grew by over 70%.
The company also announced a 34% increase in total customer count over the past 12 months to reach more than 780 enterprise customers and more than 3,000,000 total licensed users. During the period, several seven figure deals were closed including the largest in the company's history.
"Our recent success, especially noteworthy given the tough economic climate, reflects three major benefits of our end-to-end data protection approach: we offer a diverse and complete product set that is well aligned to large enterprise environments, provide products that scale the most cost efficiently, and offer customers the most rapidly deployable solutions in the market," said Sathvik Krishnamurthy, president and CEO of Voltage Security. "We are finding enterprise customers want a holistic approach for data protection versus a piecemeal or point-to-point approach. Ultimately cost efficiencies are strongest when all of the moving parts are designed to work together."
Growth Driven by Diversified Product Portfolio Large enterprise customers are increasingly turning to Voltage to solve their corporate-wide encryption needs which center around securing sensitive and confidential employee and customer data inside applications, databases, emails, files and documents.
Milestones included:
One of the world's largest telecommunications companies, a Fortune 50 company, licensed the entire product suite including Voltage SecureMail and Voltage SecureData for enterprise-wide deployment, enabling hundreds of thousands of employees and business partners to send and receive secure email, and protecting private customer data in thousands of applications throughout the organization.
Heartland Payment Systems, a leading payment processor, selected Voltage Security as a partner to develop end-to-end encryption specifically suited to payments processing. Heartland also licensed Voltage SecureMail and Voltage SecureFile to protect personal information throughout its corporate and extended business network. Click here for more information.
Wells Fargo & Company, one of the nation's largest banks, announced it had selected and deployed Voltage SecureMail to secure email between Wells Fargo team members, customers vendors and extended business partners. Click here for more information
Early Vision Being Realized Adding to the popularity of Voltage end-to-end data protection solutions is the ease provided by the underlying key management architecture.
"We've always understood that the way to make encryption work for large-scale deployments is through simplified key management," continued Krishnamurthy. "Now, we are seeing our vision reach a tipping point where enterprises have an urgent need to comprehensively protect information, and we offer them a complete family of easy to deploy, scalable, cost-efficient and powerful solutions."
The flagship Voltage SecureMail, powered by Voltage Identity-Based Encryption (IBE), is consistently selected for the largest enterprise-wide implementations in corporate America with typical deployments in the 50,000 to 500,000 employee range.
Voltage SecureData, by reducing audit scope and ongoing operational cost, is experiencing a rapid increase in demand and quickly establishing itself as the preferred solution for end-to-end encryption and stateless tokenization.
Enterprise Customers Representing a Wide-Variety of Industries A wide-variety of enterprise customers are increasingly turning to Voltage to protect information throughout their organizations and beyond. A selection of new customers includes:
Fortune 100 global payments and travel company
Fortune 100 provider of property and casualty insurance for auto, home and business
Fortune 200 global media and entertainment company
Fortune 500 provider of financial services to institutional investors
Voltage Standardization Initiatives Continue Voltage continues to participate in a number of industry standardization initiatives including:
NIST (National Institute of Standards and Technology) is reviewing Feistel Finite Set Encryption Mode (FFSEM), designed to encrypt smaller blocks of data in a manner that preserves the format of data " see the Computer Security Division annual report
PCI Security Standards Council " Voltage is a participating organization and is a strong advocate of end-to-end encryption and tokenization technologies as effective mechanisms for the reduction of audit scope
IEEE" Voltage is involved in developing the P1619.3 key management protocol and the P1363.3 pairing-based public key cryptography standard
ASC X9 " Voltage is participating in the F1, F4 and F6 efforts to protect payment data
IETF " Voltage-contributed RFCs 5048, 5049 and 509 which cover open standards for Identity-Based Encryption and have now been approved.
Most recently, Voltage was one of the few security vendors that participated in the National Cyber Leap Year Summit. This invitation-only event was organized by the White House Office of Science and Technology Policy and the Federal Networking and Information Technology Research and Development Program, and was designed to provide expert advice to the government on the best ways to address today's most pressing cyber-security problems.
About Voltage Security Voltage Security, Inc., an enterprise security company, is an encryption innovator and global leader in end-to-end data protection. Voltage solutions, based on next generation cryptography, provide end-to-end encryption, tokenization and stateless key management for protecting valuable, regulated and sensitive information based on policy. Voltage products enable reduction in audit scope with rapid implementation and the lowest total cost of ownership in the industry through the use of award-winning cryptographic solutions, including Voltage Identity-Based Encryption (IBE) and a new breakthrough innovation: Format-Preserving Encryption (FPE). Offerings include Voltage SecureMail, Voltage SecureData, Voltage SecureFile and the Voltage Security Network (VSN), an on-demand managed service for the extended business network.
As a service to the industry and general public, the company maintains the Voltage Data Breach Index and Map which is continuously updated with global data breach information: www.voltage.com/data-breach. The Company has been issued several patents based upon breakthrough research in mathematics and cryptographic systems. Customers include Global 1000 companies in banking, retail, insurance, energy, healthcare and government. To learn more about Voltage customers and sign up for the customer newsletter please visit www.voltage.com/customers.
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