SOURCE: IronKey

IronKey

May 18, 2011 07:00 ET

IronKey Continues Hyper Growth in Q1 2011

Online Banking and Secure Storage Products Fuel Record Quarter

SUNNYVALE, CA--(Marketwire - May 18, 2011) - IronKey, the leader in securing data and online access, continued its strong sales, customer, and partner growth leading to a record breaking quarter for the company. During the first quarter of 2011, overall product bookings increased 90 percent compared to the same period last year. The number of banks using Trusted Access for Banking doubled from the fourth quarter as Gartner reported that crimeware on clients' computers is now the most alarming threat to online banking executives in the U.S.1

Data protection requirements such as HITECH in the U.S. and enforcement of the European Data Protection Directive continued to drive strong growth with IronKey's cloud-managed portable USB storage business. IronKey's single largest order to date was received from a Midwestern U.S. healthcare organization during the quarter. And to advance IronKey's strategy of strong growth and address more customers, IronKey added Arrow Electronic in North America and Cohort Technology and Wick Hill Germany in Europe as value added distributors.

The first quarter also saw industry veteran Arthur Wong join IronKey as CEO, while Dave Jevans took on the role as IronKey's chairman of the board of directors. Wong, a proven leader in the security industry, brings more than 15 years of both entrepreneurial and large company experience in the technology and security space. Wong's experience includes revenue responsibility of more than $2 billion when he managed Symantec's Security and Data Management Group, and he served as senior vice president of several other Symantec business units.

The company also announced more banking clients and scored impressive corporate and product awards from the industry's most trusted names:

  • Banks such as Bank of North Carolina and Fairfield County Bank announced their use of Trusted Access for Banking to protect clients and differentiate their banking business
  • The Wall Street Journal ranked IronKey as the 14th best venture-funded company in its "Next Big Thing 2011" survey
  • SC Magazine reviewed Trusted Access for Banking, concluding, "This is a well-thought-out solution to an ugly problem. It makes no assumption of user's skills. It simply works."

"Our spectacular growth and customer successes show there is an incredible demand today for solutions that secure data and online access," said Arthur Wong, CEO of IronKey. "We want to congratulate and thank our team, including our partners and investors, for the hard work that led to these achievements and strongly positions us to keep moving upward. We see 2011 as the year to partner with our Trusted Access for Banking customers to help them address their top security issue, crimeware on clients' computers, and differentiate their banking business from competitors."

Resources
"Protecting Online Banking Customers from Evolving Cyber Crime Threats" -- webcast explains the latest bank phishing attacks, the ZeuS Trojan and SpyEye, and why anti-virus software, firewalls and other conventional safeguards are not able to stop these attacks.
"Trusted Access Guided Demonstration" -- product demonstration and example attacks.
"IronKey Enterprise Guided Demonstration" -- secure storage, remote management demo.

About IronKey
Ranked as the 14th best venture-funded company in The Wall Street Journal's"Next Big Thing 2011" survey, IronKey secures data and online access for individuals, enterprises, and governments. IronKey solutions protect remote workers from the threats of data loss, compromise of passwords, and computers infected by malicious software and crimeware. IronKey multi-function devices connect to a computer's USB port and are easy to manage with the IronKey management service. This allows users to securely carry sensitive corporate data, strongly authenticate to VPNs and corporate networks and isolate online banking customers from Advanced Persistent Threat attacks. IronKey customers include Fortune 500 companies, healthcare providers, financial institutions and government agencies around the world. Trusted Access for Banking has also won numerous awards such as 'FutureNow 2010 Top 5' from Bank Technology News. Visit www.IronKey.com for more information.

1 "The Five Layers of Fraud Prevention and Using Them to Beat Malware," Gartner, April 2011

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