Company registers 706.8% Revenue Growth over 3 years, as Traditional Perimeter-Based Security Solutions Repeatedly Prove to be Inadequate for Securing Data From Hackers

Fortanix® Inc., a leader in data-first cybersecurity and pioneer of Confidential Computing, today announced it ranked No. 167 on the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 30th year. Fortanix grew 706.8% from 2020 to 2023.

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The past decade has seen recurrent headlines around data breaches and vulnerabilities, affecting companies across the spectrum, and even the most prominent security providers themselves, including Palo Alto Networks, Cisco, Okta, and LastPass. This, coupled with the rise of generative AI tools and concerns around managing data being fed to train AI models, creates a massive problem that will only get bigger. Traditional perimeter-defense measures such as firewalls, intrusion detection systems, and endpoint detection have repeatedly proven to be inadequate and leave data vulnerable to malicious threats across all environments, whether that be on-premises or in the cloud.

To combat the status quo, Fortanix takes a data-centric approach to security. Built on Confidential Computing, which isolates critical data in a secure enclave, the Fortanix Armor platform safeguards encrypted data at rest, in motion, and in use, while centralized key management ensures control and compliance. The platform accelerates innovation, minimizes risk, and fosters secure data workflows at scale by transforming outdated, disjointed data security practices and consolidating them onto a powerful platform. Fortanix’s unified data security platform includes:

• Data Security Manager (DSM) streamlines disparate processes for data encryption, tokenization, key management, and credential and certificate storage without requiring expensive upkeep and maintenance. From file system and database encryption to data masking and tokenization, Fortanix DSM enables enterprises to secure data at every layer across environments and avoid paying millions in data loss or regulatory fines. Through advanced enterprise key management, users can store, search, rotate, and retire cryptographic keys with complete control from a single platform.
• Key Insight allows organizations to discover encryption keys and assess cryptographic security posture to enable remediation of potential vulnerabilities across on-prem and multicloud environments, all of which are essential to post-quantum readiness. Cryptographic agility is essential for organizations to maintain a strong and resilient crypto posture. With Key Insight, organizations can transition smoothly to new cryptographic standards with an efficient use of resources and a suite of solutions to streamline cryptographic operations.
• Confidential Computing Manager protects data and applications in a trusted execution environment, encrypting data as it’s actively being used across an organization’s ecosystem. Fortanix automatically verifies the integrity of those environments and upholds performance as you scale.

“Being named one of the fastest-growing companies in the Deloitte Technology Fast 500 is a reflection of the evolving challenges that enterprises face as they attempt to secure their sensitive data,” said Anand Kashyap, CEO and co-founder of Fortanix. “With Fortanix, enterprises protect data as it’s used across multiple data centers and clouds, thus securing the data that fuels an enterprise’s success, including the data used in AI.”

“For 30 years we’ve been celebrating companies that are actively driving innovation. The software industry continues to be a beacon of growth, and the fintech industry made a strong showing on this year’s list, surpassing life sciences for the first time,” said Steve Fineberg, vice chair, U.S. technology sector leader, Deloitte. “Significantly, we also saw a breakthrough in performance of private companies, with the highest number of private companies named to the list in our program’s history. This year’s winners have shown they have the vision and expertise to continue to perform at a high level, and that deserves to be celebrated.”

For more information on the Fortanix Armor platform and to sign up for a free trial, visit the product website.

About Fortanix

Fortanix is a global leader in data security. Our unified platform, powered by Confidential Computing, future proofs your data security and makes it simple for organizations to discover, assess, and remediate cybersecurity risks. Our post-quantum-ready cryptographic solutions help organizations thwart cloud and AI data exposure threats and enable secure innovation. Trusted by leading brands and government agencies, Fortanix empowers enterprises to secure their most sensitive data at rest, in motion, and in-use and remain compliant with regulations worldwide. For more information, visit www.fortanix.com.

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