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Fortanix Surpasses Multiple Milestones, Reports Strong Growth for Fiscal Year 2024Fortanix® Inc., a leader in data-first cybersecurity and pioneer of Confidential Computing, today announced another outstanding year for sales, strategic partnerships, product introductions and workforce expansion. During the fiscal year ended Jan. 31, 2024, Fortanix registered strong performance in critical areas, including the largest deal in company history, record new customer acquisitions-including the company's first customers in the Japan and MENA regions--and workforce expansion worldwide. Fortanix also added new strategic partnerships, including an agreement with the Saudi Information Technology Company (SITE) to bring Fortanix's industry-leading data security platform to the Saudi Arabia and Middle East market. "Data security breaches have continued at an alarming rate despite the fact that organizations have poured billions of dollars into solutions that are supposed to protect them," said Anand Kashyap, CEO and co-founder of Fortanix. "Fortanix, on the other hand, takes a data-centric approach to security and compliance, which has resonated among businesses, especially in privacy-sensitive industries, and is reflected in having twelve of the world's 100 largest banks as customers." In FY2024, the Fortanix Data Security Manager (DSM) SaaS platform was used to perform 10.3 billion global data protection operations versus 1.65 billion in FY23, a 6x increase as more and more customers worldwide choose Fortanix to protect their most sensitive data. Expanded Leadership and a Growing Workforce Fortanix made several key executive appointments throughout the fiscal year, including Ron Longo, Chief Revenue Officer; Linda Chen, Chief Marketing Officer; Anuj Jaiswal, Vice President of Products; and Andy Buckland, Vice President and General Manager, EMEA. In addition, the company expanded its overall workforce, including several additions across sales, channel, and sales engineering in all major regions to support significant growth for Fortanix now and into the future. New Solutions and Product Enhancements Fortanix's mission is to secure the world's data. Towards that end, Fortanix announced multiple new solutions and product enhancements to address important customer needs in the market. These additions included:
Key Strategic Partnerships Recently, Fortanix joined the NIST AI Safety Institute Consortium (NIST AISIC) established by the U.S. Department of Commerce to advance the development of safe and trustworthy artificial intelligence. As an inaugural member, joining 200-plus leading tech companies including OpenAI, Google, Microsoft, Amazon and others, Fortanix will bring expertise in the areas of data security and Confidential Computing to the consortium. In 2023, Fortanix partnered with the Saudi Information Technology Company (SITE), a PIF-owned, prominent cybersecurity and cloud provider and systems integrator, to bring Fortanix solutions to the Saudi Arabia and greater Middle East markets. As a part of the partnership, Fortanix and SITE began rolling out a variety of data security solutions, including multicloud key management, tokenization and data masking, secrets management and HSM-as-a-service. Fortanix also formed a new partnership with DreamArts Corp. in Japan to provide BYOK to the company's SmartDB no-code/low-code development platform. By leveraging Fortanix's technology, even in the unlikely event that SmartDB files, backup data, or physical devices are leaked, the data will not be viewable by malicious actors. ISO 27001 Certification Fortanix last year received ISO 27001 certification, the global standard for effective information management. Published by the ISO (International Organization for Standardization) and IEC (International Electrotechnical Commission), ISO 27001 is the only certifiable information security standard recognized internationally. This rounded out Fortanix's impressive list of enterprise and product certifications, which also includes FIPS 140-2 Level 3, SOC 2, PCI DSS and CIS Level 1 Benchmark. Fortanix's proven platform has been adopted by some of the largest Fortune 500 and Forbes 2000 companies, as well as the most data privacy-sensitive segments of the market. The latest additions to its team, alliances, and solutions enables Fortanix to be uniquely positioned to help enterprises with a data-first security approach that reliably protects their most valuable assets while meeting global regulatory compliance requirements. For more information on the Fortanix's suite of solutions, visit https://www.fortanix.com/solutions. About Fortanix Fortanix is a global leader in data security. We prioritize data exposure management, as traditional perimeter-defense measures leave your data vulnerable to malicious threats in hybrid multicloud environments. Our unified data security platform makes it simple to discover, assess, and remediate data exposure risks, whether it's to enable a Zero Trust enterprise or to prepare for the post-quantum computing era. We empower enterprises worldwide to maintain the privacy and compliance of their most sensitive and regulated data, wherever it may be. At Fortanix, we bring together the very best people in service of our mission including recognized industry pioneers and experts in cryptography and Confidential Computing. We're also proud to be Great Place to Work certified. Fortanix - Data Exposure Management for the Modern Enterprise. For more information, visit www.fortanix.com.
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