While Supreme Court decisions are certainly in the spotlight this week, we've had some big news of our own here at Vormetric. Yesterday, we announced $15M in growth capital, led by Split Rock Partners and supported by existing investors JK&B, QuickSilver Ventures and Sigma Partners. Vormetric has been profitable since 2009 and enjoyed revenue growth in excess of 35% for the last few years. We believe we can do more for our customers as we accelerate our growth and innovation. For this reason, we were delighted to be approached by several leading firms wishing to invest in our business. Because we help enterprises and government organizations minimize the attack surface for Advanced Persistent Threats (APTs) as well as protecting their sensitive data from insider threats like privileged user access, high-quality investors who have tracked our progress were eager to engage. After several inquiries, it became obvious to us that the timing was right to take on some growth capital, so that's what we did. We feel this capital infusion is good all the way around: good for our investors, good for the industry, good for our customers and partners, and good for Vormetric.
In addition to getting a fantastic new board member in Jim Simons, this new capital will enable us to accelerate innovations on the product front, invest in strategic market segments like Cloud and Big Data, and fuel our international market expansion. Our data-centric security solutions play in the sweet spot of some pretty major market trends at the moment, including Cloud adoption, Big Data, APTs and privileged user threats. Moreover, organizations of all sizes are fast coming to the realization that perimeter security is failing. They simply must find a new way to protect what matters — sensitive data like customer information, financial data and intellectual property — or risk facing big financial losses and major brand reputation issues.
Our belief — based on serving the real-world security needs of over 1,100 customers, including 17 of the Fortune 25 — is that a layered "inside-out" approach to security that is laser-focused on protecting valuable data is the best course of action. Specifically, you should 'firewall' your sensitive data, add fine-grained access controls that enable people to do their jobs but not have visibility into sensitive data they do not need to see, and continuously gather security intelligence to detect unusual behavior patterns in near real-time.
Taking responsibility for the security of any sizable organization in an era of increasingly sophisticated cyber attacks can be like having the Sword of Damocles hanging over your head 24/7 — unless you have a plan to protect what matters, from the inside out.
If you need help developing security best practices, please do get in touch. We're shifting into high gear and would be delighted to assist you.