AUSTIN, Texas - VirtuCrypt today reported year-over-year revenue growth over 250% for the 12 months ending June 30th, 2017. This growth further solidifies VirtuCrypt’s position as the industry’s premier provider of cloud-based encryption services.
Large portions of this growth were driven by service contracts for remote key management for Point of Sale, CA/PKI management for IoT device manufacturers, Point-to-Point Encryption, and general-purpose enterprise cryptographic infrastructure. Also contributing were VirtuCrypt Plus services used by current Futurex customers to ease compliance burdens and simplify management of their on-premises hardware security modules.
The volume of sensitive corporate and government data is rapidly growing, and sophisticated attack vectors are becoming commonplace. As a result, global demand for Cryptography-as-a-Service (CaaS) is rising. In particular, this includes interest in hybrid environments incorporating cloud services and on-premises security servers.
Futurex powers VirtuCrypt’s cloud services with hardware security modules as well as key/certificate/token management, trusted identity, and crypto management technology. This affords VirtuCrypt solutions a level of security, scalability, and functionality unobtainable for users of traditional cloud offerings, all while enabling organizations to control their own cryptographic keys.
“VirtuCrypt’s cloud services and Futurex’s Hardened Enterprise Security Platform work together to fulfill the mission-critical data protection needs of modern enterprises,” said Brett Smith, Chairman/Founder of VirtuCrypt. “The synergy between both organizations has allowed us to successfully launch a recurring revenue business model that extends our technology to the cloud and expands our footprint globally. As we grow, VirtuCrypt will continue to enhance customer support, promote advanced Quality Assurance techniques, and increase R&D efforts for both companies.”
VirtuCrypt expects to sustain its current growth trajectory and will continue investing its profit back into research & development and infrastructure, as has always been its practice, to best serve its growing base of global customers and partners.
About VirtuCrypt (www.virtucrypt.com)
Headquartered in Austin, Texas, VirtuCrypt is a globally recognized provider of hardened, enterprise-class cloud security services. Organizations worldwide trust the VirtuCrypt Hardened Enterprise Security Cloud, using Futurex's innovative Hardened Enterprise Security Platform technology, to provide market-leading solutions for the secure encryption, storage, transmission, and certification of sensitive data.