PRESS RELEASE: August 25, 2008
Voltage Security Posts Record First Half;
Accelerates Growth of Information Encryption Solutions
Licensed User Count Soars to Over 2.5 Million,
Marked by Diversified Product Revenues
Palo Alto, California–August 25, 2008–Voltage Security, Inc., (www.voltage.com), a global leader in information encryption,today announced a record second quarter with nearly 80% growth in revenue over the same period last year. Total contract value of deals signed in the first half grew by over 50%. The company also announced that it more than doubled its total licensed user count to more than 2,500,000 and increased its total customer count over the past 12 months by nearly 60% to more than 580.
Growth from Expanded Product Line
Voltage saw demand increasing across the breadth of its product line, from the flagship Voltage SecureMail™, to its SaaS offering Voltage Security Network™, and from its most recent products Voltage SecureData™ and Voltage SecureFile™. Enterprises are increasingly adopting multiple Voltage products to secure customer and employee data in databases and applications, prevent identity theft, and help customers securely collaborate with their business partners.
High points for the first half of 2008 also included:
- Closing the single largest transaction in the company’s history.
- Closing the first multi-million dollar contract with Voltage SecureData.
- Growing the licensed user count for Voltage Security Network by nearly 40% over the prior year.
- Growing total contract value of international business in the first half by over 264%, of which more than 58% were Voltage Security Network transactions.
“Large corporate customers increasingly appreciate the benefits of the common key management architecture underlying Voltage products. Moreover, our diverse product line is leading to larger and more strategic customer relationships. One measure of that is the fact that we more than tripled our multi-million dollar customer count over the past year,” said Sathvik Krishnamurthy, president and CEO of Voltage Security, Inc.
“Three customer decision points are driving the rapid adoption of Voltage for these large enterprise deployments,” continued Krishnamurthy. “First, Voltage is highly scalable to the largest numbers of users and applications. Second, Voltage has a proven track record of usability, dramatically reducing help desk support and user training costs. Third, Voltage solutions are designed for rapid integration and the quickest path to production, so ROI is proven in days and weeks, instead of the months and years typical of other key management approaches.”
Information Protection at The World’s Leading Brands
Driving Voltage’s growth is increased demand from some of the world’s largest and most recognized brands. These companies know that a single data breach can wreak havoc on brand reputation. In turn they increasingly utilize Voltage to reduce the risks of identity theft, secure collaboration with business partners, enable developer access to production data and rapidly achieve PCI compliance.
Examples include:
- Top ten U.S. insurance provider standardizes on Voltage key management, using Voltage SecureMail for email encryption and Voltage SecureData for data protection across 180 mission critical applications, including PeopleSoft Enterprise, Informatica, and Oracle applications.
- Tier 1 retail and logistics merchant selects Voltage SecureData and Voltage SecureFile to secure PCI credit card datathroughout its network of 3,500 customer-facing storefronts.
- Kodak (NYSE: EK) and Domino’s Pizza® (NYSE: DPZ) select Voltage SecureMail as their email encryption standard.
- One of the world’s largest retailers, a Fortune 50 company, selects Voltage SecureMail for enterprise-wide email protection, in one of the world’s largest commercial email encryption deployments.
Partnerships Continue to Drive Channel Growth
Voltage also recently expanded on its position as the number one OEM provider of email encryption with a variety of new product and distribution partnerships including the following:
Voltage Continues Move to Industry Standardization
Voltage continued moving toward industry-wide standardization with the following:
About Voltage Security
Voltage Security, Inc., an enterprise security company, is the global leader in information encryption. Voltage solutions, based on next generation cryptography, provide encryption that just works for protecting valuable, regulated and sensitive information persistently and based on policy. Voltage delivers power, simplicity and the lowest total cost of ownership in the industry through the use of award-winning Voltage Identity-Based Encryption™ (IBE) and a new breakthrough innovation: Format-Preserving Encryption (FPE). Voltage Security offerings include Voltage SecureMail™, Voltage SecureData™ and the Voltage Security Network™ (VSN), an on-demand managed service for the extended business network.
Voltage Security is the number one OEM provider of email encryption technology in the world with OEMs that include Microsoft, Proofpoint, Secure Computing, Sendmail, Canon, Code Green Networks and NTT Communications. 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, such as American Board of Family Medicine, Diebold, Integro Insurance Brokers, NTT Communications, SafeAuto Insurance, Winterthur Life UK Ltd. and XL Global Services. For more information please visit http://www.voltage.com.
###
Voltage Identity-Based Encryption, Voltage Format-Preserving Encryption, Voltage SecureMail, Voltage SecureFile, Voltage SecureData and the Voltage Security Network (VSN), are registered trademarks of Voltage Security, Inc.
All other trademarks are property of their respective owners.
