SOURCE: Vormetric

August 03, 2005 07:00 ET

Vormetric Inc. Continues Business Momentum in Data Protection and Security Market With Double Digit Growth

Recent Customer Wins and Implementation Growth, New Channel Partnerships and Expansion Into Europe Underscore Industry Momentum

SANTA CLARA, CA -- (MARKET WIRE) -- August 3, 2005 -- Vormetric, Inc., the leading provider of security systems for protecting enterprise information, today announced new customer wins, increased repeat business from existing customers, several new channel partnerships and new operations in Europe, demonstrating the company's continued momentum. Increased concern about data protection and security among businesses and end-users alike is fueling the need for solutions such as those offered by Vormetric.

Vormetric has been steadily gaining awareness and market share within the data protection and security industry resulting in quarterly doubling of billings throughout 2005. The company's flagship product, CoreGuard, protects several thousand servers worldwide and the company's customer roster boasts many marquee Fortune 500 companies spanning a diverse cross section of vertical industries such as government, financial services, transportation, entertainment, and computer technology. Current customers include BMW, EDS, Synopsys, Ocwen Financial Services, University of Texas Health Center, Cadence Design and Bank of Tokyo Mitsubishi, to name a few. Vormetric also recently added several new customers in the last quarter including California Water Services Group and Planitax.

"Trust and accountability are critical to building a businesses' reputation. Consumers today are more aware of computer security and risks than ever before. This makes trust through good data stewardship hard to earn, easily lost in a breach, and extremely expensive if not impossible to regain," said Jon Oltsik from Milford, Massachusetts-based research firm Enterprise Strategy Group. "To instill and maintain trust and loyalty among customers and shareholders businesses must demonstrate an effective security and data protection practice."

"Increased concern about data and privacy protection combined with the sensitive nature of tax and legal documents, and regulatory requirements posed by legislation such as Sarbanes-Oxley means services such as our Planitax Corporate Tax Horizons, must meet very strict reliability and security levels," said Chris Stauber CTO at Planitax. "Using Vormetric's CoreGuard allows us to provide customers with the security levels they demand while meeting stringent regulatory requirements."

In addition to a growing customer base, Vormetric has signed seven new channel partners in the last quarter including Northrup Grumman, Darcomm Network Solutions and Structured Communications.

"Our customers are experiencing challenges with data security, particularly within their storage infrastructure," said Ron Fowler, president of Structured Communications, a storage and security solutions reseller serving the Pacific Northwest. "Our partnership with Vormetric allows us to offer our customers a complete end-to-end data protection solution that enables them to secure their data-at-rest without altering their infrastructure or degrading the performance of their applications. This helps them meet their business objectives and lowers the total cost of ownership."

Vormetric also expanded its presence into Europe with the opening of an office in London, England which will service the UK and the European Continent to meet increased demand from Vormetric customers with a global presence such as computer gaming company Havok Ltd. who uses Vormetric in its Dublin, Ireland and San Francisco, CA offices. The European operation's sales and engineering efforts are lead by Colin Tankard, a UK-based security professional with decades of experience in the UK and European marketplace.

"Vormetric's momentum is indicative of greater market awareness and demand for data protection and privacy solutions such as ours, and we expect continued aggressive growth," said Reed Taussig, president and CEO, Vormetric Inc. "The global nature of data today provides increased risks, so there is a proven demand for data protection products. Our growing list of customers is concerned about protecting their information whether it is protecting consumer data or protecting their own intellectual property from competitors, partners, crime syndicates or third party customers."

About Vormetric

Vormetric is a leading provider of solutions for protecting enterprise information from unauthorized access or theft. The company's CoreGuard system is a single, scalable and manageable system for data privacy and protection that enables businesses and government agencies to control who, what, when, where and how people can access sensitive information. CoreGuard protects intellectual property and enables enterprises to comply with increasingly strict data privacy and system integrity regulations. Founded in 2001, Vormetric is a privately held company with headquarters in Santa Clara, California. More information is available at www.vormetric.com

Vormetric, the Vormetric logo, CoreGuard and MetaClear are trademarks of Vormetric Inc.

Contact Information


  • Terry Hunt
    Vormetric, Inc.
    Ph: 408.961.6119
    Email: Email Contact

    Rita Manachi
    Text 100 International
    Ph: 415.593.8400
    Email: Email Contact