Cloud Data Protection Pioneer CipherCloud Experiences Explosive Growth in 2011
One of Silicon Valley’s Fastest-growing Private Companies Sees Annual Revenues Soar Over 1,000%, Achieves Positive Cashflow, and Earns Widespread Industry Recognition
SAN JOSE, Calif., Feb. 2, 2012
CipherCloud, a leading provider of cloud encryption gateways for public and private clouds, today announced the achievement of major milestones and strong market traction in 2011. These include annual revenue growth of over 1,000%, positive cashflow in the fourth quarter, the company’s largest sales transaction to date, the delivery of new cloud encryption solutions for salesforce.com applications and Amazon Web Services, and recognition by Gartner as a Cool Vendor in Cloud Security in 2011.
The company’s award-winning solution, CipherCloud Gateway 2.0, provides a single gateway as a platform to secure sensitive customer data across multiple public and private cloud applications, such as salesforce.com applications and Amazon Web Services, without impacting functionality or performance. The solution uses comprehensive security controls including strong encryption, tokenization, activity monitoring, and malware detection to address organizations’ data privacy, residency, security, and compliance concerns, and to accelerate cloud adoption.
Forrester Research predicts that by the end of 2012, cloud customers will already be using more than ten different cloud applications on average. Another industry research firm, IDC, forecasts that 80 percent of new commercial enterprise apps will be deployed on cloud platforms in 2012. By providing a single, unified encryption gateway across multiple cloud applications, CipherCloud is uniquely positioned to protect sensitive enterprise data against emerging cloud threats and enable enterprises to confidently move to the cloud.
According to CipherCloud Founder and CEO Pravin Kothari, “CipherCloud has experienced exceptionally strong traction in terms of revenue, marquee customers, and industry accolades. By delivering on our vision of building trust in the cloud, we’re helping enterprises across the globe accelerate their movement to the cloud. We’re committed to delivering exciting new solutions in 2012 to continue on this journey.”
CipherCloud Highlights in 2011
- Posted white-hot growth in annual bookings of over 1,000%, with new customers in the US, Canada, Germany, Belgium, Australia, and Japan in capital markets, investment banking, retail banking, insurance, wealth management, government agencies, pharmaceuticals, entertainment, non-profit, and manufacturing.
- Deployed its largest implementation to date, encrypting sensitive customer data and files for over 100,000 users.
- Competed two major product releases to protect sensitive customer data in Salesforce, Force.com applications, Chatter, and Amazon Web Services.
- Added new capabilities for cloud encryption, tokenization, malware detection, and cloud audit.
- Filed 40 claims within two major patents.
- Raised venture capital funding through premier investors Andreessen Horowitz, Index Ventures, and T-Venture to accelerate investment in new solutions and fuel expansion.
- Doubled the size of its Silicon Valley and Hyderabad facilities in the last six months, with plans to double again in 2012.
- Rapidly expanded the company’s partner network, and began collaboration with two of the world’s largest systems integrators.
- Expanded the management team with Dev Ghoshal, SVP of Field Operations, Mike Kochanik, VP of Worldwide Sales, Varun Badhwar, Vice President of Product Strategy & Business Development, and Allen Pogorzelski, Head of Marketing.
- Earned widespread recognition for its innovation through multiple industry awards including: Gartner Cool Vendor in Cloud Security Services, Most Innovative Company Finalist at the RSA Conference 2011, Best in Security and Judge & Audience Choice Winner by Under The Radar 2011, Best in Software & Cloud Winner at TiEcon 2011 Innovation Expo, and 2011 SINET 16 Innovators Award.
“This is a very exciting time for CipherCloud customers, employees, and partners as we build on our successes from 2011,” said Dev Ghoshal, SVP of Field Operations. “As we expand our solution offering to include additional cloud applications, further develop our partner ecosystem, and add even more innovative capabilities to our solutions, we will change how organizations view the cloud.”
CipherCloud provides a unified cloud encryption gateway with award-winning technology to encrypt sensitive data in real time before it’s sent to the cloud. CipherCloud protects enterprise data using format and operations-preserving encryption and tokenization in any private or public cloud environment without impacting functionality, usability, or performance. CipherCloud eliminates data privacy, data residency, security, and regulatory compliance concerns, and accelerates cloud adoption. CipherCloud has been recognized by Gartner as a Cool Vendor in Cloud Security in 2011. Visit CipherCloud at www.ciphercloud.com.