Fortanix Bags $90M From Goldman Sachs for Data-First Cybersecurity Solution
Fortanix, a data-driven security company, announced Thursday it raised $90 million in Series C funding led by Goldman Sachs Asset Management.
The Mountain View-based company takes a data-first approach to cybersecurity, helping companies modernize their on-premise and cloud security solutions by decoupling security from infrastructure. Essentially, Fortanix secures the data itself with encryption rather than securing the systems that hold that data. This makes it easy for organizations to move data through multiple environments without compromising security.
“Cybersecurity is one of the most important needs of our current era,” Ambuj Kumar, CEO and co-founder of Fortanix, said in a statement. “This fundraise is a strong validation of the massive market opportunity ahead as we execute our bold mission.”
Other participants in the round include GiantLeap Capital, Foundation Capital, Intel Capital, Neotribe Ventures and In-Q-Tel. Soumya Rajamani, a VP of Goldman Sachs, will join Fortanix’s board of directors as part of the investment.
This funding announcement comes after a period of significant growth for the company. Fortanix recently celebrated its inclusion on the Inc. 5000 list of fastest growing companies, boasting a 522 percent growth rate over the past three years. Fortanix also grew its team by 70 percent, amassing over 225 employees in the past year. In addition, the company reached more than 125 global customers and completed more than 25 patents for its data-first cybersecurity solutions.
Fortanix is currently hiring for 14 positions in the Bay Area and 26 positions across the United States.