SOURCE: Voltage Security

August 21, 2007 07:00 ET

Record Growth at Voltage Security Ushers in Era of Information Encryption

Strong Financial Performance Marks First Half of 2007

PALO ALTO, CA--(Marketwire - August 21, 2007) - Voltage Security, Inc., a global leader in information encryption, today announced record financial performance for the first half of 2007 including nearly 80% growth in revenues for the trailing four quarter period and positive cash flow from operations for the past two consecutive quarters. The company also announced:

-- Over 370 enterprise customers including leading financial services firms, healthcare institutions, insurance companies, retailers and others around the globe.

-- Nearly 1,000,000 licensed users of its flagship product Voltage SecureMail™.

-- Several seven figure customer relationships including the largest transaction completed by the company to-date.

-- The rapid market acceptance of the Voltage Security Network™ reaching over 35,000 paid subscribers in just six months, proving the viability of the security-as-a-service (SaaS) business model.

-- Voltage SecureMail becoming the #1 OEM'ed secure email solution; partner contribution exceeding 40% of total bookings over the past 4 quarters.

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"With these results we continue to strengthen our lead in the rapidly growing market for information encryption," said Sathvik Krishnamurthy, president and CEO of Voltage Security. "We recorded stellar financial results by growing our blue-chip customer base and delivering innovative new products to the market, most notably with our SaaS solution, the Voltage Security Network (VSN)."

Reputation Management Fuels Demand for Information Encryption

The broad market demand for information encryption is driven by the increased scrutiny of data breaches and theft of personal information. Corporations around the globe see the direct link between brand reputation and the ability to protect valuable and sensitive customer, employee and/or patient personal information. These corporations know that even a relatively small leak of valuable information can result in serious reputation and brand damage and real loss of business -- as witnessed by recent disclosures from international retailer, TJX Cos., which reported that breach-related costs have reached $256 million as of last quarter.

Voltage Security meets this need by providing solutions designed for ease-of-use, minimum administration costs and scalability. Voltage solutions are based on the award winning Voltage IBE™, or Identity-Based Encryption technology, which ensures the strongest information encryption along with greatly simplified key management.

Voltage Security Becomes the Standard Choice

Voltage SecureMail is quickly becoming the information encryption method of choice for large corporations protecting valuable information as it flows through the enterprise and beyond to partners, vendors and customers. Examples from the Voltage customer base include:

-- A major health management organization (HMO) whose 160,000 employees use Voltage SecureMail to secure patient health information to external business partners.

-- A major manufacturer whose 75,000 employees use Voltage SecureMail for secure supply chain and business partner communication.

-- One of the world's largest retailers using Voltage SecureMail for payment card industry (PCI) compliance.

-- An international media company using Voltage SecureMail to send millions of electronic statements monthly to consumer subscribers.

-- A major U.S. bank using Voltage SecureMail to communicate securely with banking clients who expect the highest level of confidentiality and customer service.

Fast On-Ramp to Information Encryption: Voltage Security Network

Voltage continues to innovate with the recent addition of several new solutions:

-- Voltage Security Network™ (VSN), a SaaS solution, empowers the growth of trusted and secure communication networks by offering the fastest way to deploy and scale secure email. Early VSN customers include a Global 100 bank, a Fortune 50 Oil and Gas company, and a top 5 US State health care agency.

-- Voltage SecureMail V3 delivers breakthrough improvements in anti-phishing and usability to solve business to consumer communication challenges, and adds robust enterprise capabilities to further reinforce flexibility and scalability in diverse, multi-data center deployments.

-- Voltage Security Data Protection System™ delivers information encryption within applications and eliminates complex and piecemeal data security solutions that often fail.

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). Voltage Security offerings include Voltage SecureMail™, the Voltage Data Protection System™ and the Voltage Security Network™ (VSN), a Software as a Service (SaaS) solution 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. Voltage Security partners with leading global technology companies including: IBM, Microsoft, RIM, Symantec and others. Customers include nearly one million licensed and deployed users at Global 1000 companies in banking, retail, insurance, energy, healthcare and government, such as American Board of Family Medicine, Diebold, Integro Financial, NTT Communications, SafeAuto Insurance, Winterthur Life UK Ltd. and XL Global Services. For more information please visit http://www.voltage.com.

Voltage Security, Voltage Identity-Based Encryption, Voltage SecureMail, Voltage Security Network and Voltage Data Protection Systems are registered trademarks of Voltage Security, Inc. All other trademarks are property of their respective owners.

Contact Information

  • Contacts:
    Julie McHenry
    Communications Insight, LLC
    Email Contact
    + 650-504-6655

    Wasim Ahmad
    Voltage Security, Inc.
    Email Contact
    +1 415-279-4594