Fortanix Raises $90 Million in Series C  

by Kay Aloha Villamor in September 16th, 2022

Fortanix, a Mountain View, CA-based data-first multi-cloud security company and the pioneer of Confidential Computing, announced $90 million in Series C financing, bringing Fortanix's total amount raised to over $122 million. 

The round was led by the Growth Equity business within Goldman Sachs Asset Management (Goldman Sachs) with participation from GiantLeap Capital and existing investors Foundation Capital, Intel Capital, Neotribe Ventures, and In-Q-Tel.

Soumya Rajamani, Vice President at Goldman Sachs, will join Fortanix's board of directors.

"I am grateful to the new and existing investors for their confidence in the Fortanix team and our technology, and I am thrilled to welcome Soumya Rajamani to our board of directors," said Ambuj Kumar, co-founder, and CEO of Fortanix. "Cybersecurity is one of the most important needs of our current era. This fundraise is a strong validation of the massive market opportunity ahead as we execute our bold mission."

The funding builds upon the significant and sustained growth Fortanix has experienced despite the pandemic and recent macroeconomic conditions. The company has gained customers across multiple verticals, including some of the highly regulated industries. 

The company's customers include dozens of Fortune 500 companies and several U.S. government agencies. Over the last three years, the company grew by more than 500%, which puts it in the top 25% of the annual Inc. 5000 list of the fastest-growing private companies in America for 2022.

Company: Fortanix, Inc.

Raised: $90.0M

Round: Series C

Funding Month: September 2022

Lead Investors: Goldman Sachs Asset Management (Goldman Sachs)

Additional Investors: GiantLeap Capital, Foundation Capital, Intel Capital, Neotribe Ventures, and In-Q-Tel

Company Website: https://www.fortanix.com/

Software Category: Data Security Manager SaaS

About the Company: Fortanix is a data-first multi-cloud security company and a pioneer in confidential computing. Fortanix secures data wherever it is. Fortanix's data-first approach helps businesses modernize their security solutions on-premises, in the cloud, and everywhere in between. Data Security Manager (DSM) SaaS provides integrated data security with encryption, multi-cloud key management, tokenization, and other capabilities from one platform, delivered as a service. Enterprises worldwide, especially in privacy-sensitive industries like healthcare, fintech, financial services, government, and retail, trust Fortanix for data security, privacy, and compliance. Fortanix

Source: https://www.businesswire.com/news/home/20220915005348/en/Fortanix-Raises-90M-in-Series-C-Funding-Led-by-Goldman-Sachs-Asset-Management-to-Accelerate-Leadership-in-the-Data-Security-Market





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