Security Experts:

Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Application Security

Data Security Firm Fortanix Raises $90M Series C

Silicon Valley late-stage startup Fortanix has banked $90 million in new capital to boost its place in the confidential computing and data protection marketplace.

Silicon Valley late-stage startup Fortanix has banked $90 million in new capital to boost its place in the confidential computing and data protection marketplace.

Fortanix said the $90 million Series C round was led by Goldman Sachs Asset Management. GiantLeap Capital joined as a new investor alongside prior backers Foundation Capital, Intel Capital, Neotribe Ventures, and In-Q-Tel.

The Mountain View, Calif. company has raised a total of $135 million since its launch in 2016 as a provider of data encryption technology using Intel SGX.

“The funding builds upon the significant and sustained growth Fortanix has experienced despite the pandemic and the recent macro-economic conditions,” the company said in a note announcing the new financing.

Fortanix said it has found traction in highly regulated industries for a product line that includes technology for encryption, multi-cloud key management, tokenization and enclave application lifecycle.

“Traditional network security led approaches have not been entirely successful in preventing data breaches and ransomware. Regulatory requirements have increased as have penalty amounts,” the company noted, arguing that its data-first approach to security tackles this problem head-on by decoupling security from infrastructure.  

The approach allows organizations to credibly conform to privacy laws and regulatory requirements globally including GDPR, Schrems II, HIPAA, PCI and ITAR, Fortanix said.

Related: Intel SGX Card Extends Memory Protections to Existing Cloud Servers 

Related: Tech Giants Join Forces on Confidential Computing 

Related: Dig Security Banks $34 Million for Cloud Data Security

Written By

Ryan Naraine is Editor-at-Large at SecurityWeek and host of the popular Security Conversations podcast series. He is a security community engagement expert who has built programs at major global brands, including Intel Corp., Bishop Fox and GReAT. Ryan is a founding-director of the Security Tinkerers non-profit, an advisor to early-stage entrepreneurs, and a regular speaker at security conferences around the world.

Click to comment

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Join this webinar to learn best practices that organizations can use to improve both their resilience to new threats and their response times to incidents.

Register

Join this live webinar as we explore the potential security threats that can arise when third parties are granted access to a sensitive data or systems.

Register

Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Vulnerabilities

Less than a week after announcing that it would suspended service indefinitely due to a conflict with an (at the time) unnamed security researcher...

Data Protection

The CRYSTALS-Kyber public-key encryption and key encapsulation mechanism recommended by NIST for post-quantum cryptography has been broken using AI combined with side channel attacks.

Data Protection

The cryptopocalypse is the point at which quantum computing becomes powerful enough to use Shor’s algorithm to crack PKI encryption.

Cybercrime

The changing nature of what we still generally call ransomware will continue through 2023, driven by three primary conditions.

Cyberwarfare

WASHINGTON - Cyberattacks are the most serious threat facing the United States, even more so than terrorism, according to American defense experts. Almost half...

Application Security

PayPal is alerting roughly 35,000 individuals that their accounts have been targeted in a credential stuffing campaign.

Cybersecurity Funding

SecurityWeek investigates how political/economic conditions will affect venture capital funding for cybersecurity firms during 2023.