Fortanix sells software that encrypts databases, manages application secrets, and provides confidential computing to isolate sensitive data in encrypted CPU enclaves during processing. Its confidential computing technology is built on Intel’s SGX platform and is aimed at letting regulated industries use private data while preserving anonymity. The company counts more than 125 customers — including Adidas, Google, PayPal, GE Healthcare, the U.S. Department of Justice and the CDC — and works with partners such as Elastx, Alibaba Cloud, Equinix and IBM Cloud. Fortanix plans to use new capital to expand sales and marketing and to open new offices in Eindhoven, the Netherlands. CEO Ambuj Kumar declined to disclose revenue figures but said the company is growing and currently employs about 225 people with plans to increase headcount by roughly 50% over the next year. The company emphasizes protecting data “in use” in addition to data at rest and in motion and competes with legacy data security vendors as well as other confidential computing startups. Fortanix develops Runtime Encryption® technology and a Self-Defending Key Management Service (SDKMS) that protect data, encryption keys, databases, containers, and machine‑learning algorithms while in use. The platform runs Linux applications in enclaves built on Intel® SGX and is used to power IBM Cloud Data Shield and Equinix’s SmartKey HSM-as-a-service; the company secures F100 customers worldwide. Fortanix says its technology helps address GDPR privacy requirements, enterprise blockchain security, and protection of AI/ML inputs by keeping data confidential even when systems are compromised. The company reports significant revenue and growth internationally and plans to use new funding to expand all facets of the business and accelerate its international expansion. Fortanix is headquartered in Mountain View, Calif., and the team cites roughly 18 months of product availability since launch. Total funding to date is $31 million. Fortanix offers a Runtime Encryption™ solution that protects applications and data from external and internal threats and all types of backdoors across on-premise and cloud deployments. The company leverages Intel® SGX, TXT, and other security technologies to enable general-purpose computation on encrypted data without exposing sensitive data to untrusted operating systems, root users, cloud providers, or malicious insiders. Customers use Fortanix's technology to protect sensitive applications such as trading algorithms, software key managers, build servers, content delivery applications, and remote TLS terminations. Fortanix has announced the beta availability of its Self-Defending Key Management Service™ (SDKMS), a cloud service secured with Runtime Encryption™ technology. The company is based in Menlo Park, CA and was founded by Ambuj Kumar and Anand Kashyap. In June 2017 Fortanix raised $8m in a Series A financing.

Total raised

$121M

Funding rounds

3

Latest round

Series C

Latest activity

Sep 2022