Fortanix Raises $90M in Sequence C Funding Led by Goldman Sachs Asset Administration

MOUNTAIN VIEW, Calif., Sept. 15, 2022 — Fortanix® Inc., the data-first multicloud safety firm and the pioneer of Confidential Computing, at the moment introduced $90 million in Sequence C financing bringing the whole quantity the corporate has raised to over $122 million. The spherical was led by the Progress Fairness enterprise inside Goldman Sachs Asset Administration (Goldman Sachs) with participation from GiantLeap Capital in addition to the prevailing traders Basis Capital, Intel Capital, Neotribe Ventures, and In-Q-Tel. Soumya Rajamani, Vice President at Goldman Sachs, will be a part of Fortanix’s board of administrators.   

The funding builds upon the numerous and sustained progress Fortanix has skilled regardless of the pandemic and the current macro-economic situations. The corporate has gained prospects throughout a number of verticals together with a number of the extremely regulated industries. Conventional community safety led approaches haven’t been totally profitable in stopping information breaches and ransomware. Regulatory necessities have elevated as have penalty quantities. The information-first strategy to safety advocated by Fortanix tackles this downside head-on by decoupling safety from infrastructure, and offers a sublime method to safe information, wherever it’s. It additional permits organizations to credibly conform to privateness legal guidelines and regulatory necessities globally together with GDPR, Schrems II, HIPAA, PCI, ITAR and a number of other others.  

“We consistently search for corporations with disruptive applied sciences and have seen the advantages of its data-first strategy,” mentioned Soumya Rajamani, Vice President at Goldman Sachs. Many companies can relate to the problem of information safety and privateness, and we’re proud to assist the Fortanix workforce of their mission to resolve safety and privateness.”  

Fortanix’s progressive strategy, backed by greater than 25 patents, has resonated out there. The corporate counts dozens of Fortune 500 corporations as its prospects, in addition to a number of U.S. authorities companies. The corporate skilled greater than 500% progress over the previous three years, putting it within the high quarter of the annual Inc. 5000 record of the fastest-growing non-public corporations in America for 2022. 

“I’m grateful to the brand new and current traders for his or her confidence within the Fortanix workforce and our know-how, and I’m thrilled to welcome Soumya Rajamani to our board of administrators,” mentioned Ambuj Kumar, CEO and co-founder of Fortanix. “Cybersecurity is likely one of the most vital wants of our present period. This fundraise is a robust validation of the large market alternative forward as we execute our daring mission.” 

Robust Firm Execution Guides Investor Sentiment  

This vital spherical of financing was pushed by a variety of firm momentum elements, together with: 

• A 3-year mixture progress trajectory of 522%, touchdown on the
  2022 Inc. 5000 record
  of fastest-growing non-public corporations within the U.S. 
• Worker progress of 70% year-over-year to greater than 225 staff 
• An expanded ecosystem of strategic partnerships that features over 100 product integrations 
• Greater than 125 marquee international prospects throughout main industries, together with healthcare, banking, FSI, know-how companies, cloud suppliers, and federal companies 
• Robust mental property base with over 25 patents, underscoring the technical differentiation of Fortanix’s data-first strategy 
• Current growth of the management workforce, together with the additions of the corporate’s vp of authorized, chief income officer and chief advertising officer.  

Extra Assets:

About Goldman Sachs Asset Administration Progress Fairness  

Bringing collectively conventional and various investments, Goldman Sachs Asset Administration offers purchasers world wide with a devoted partnership and deal with long-term efficiency. As the first investing space inside Goldman Sachs (NYSE: GS), we ship funding and advisory companies for the world’s main establishments, monetary advisors and people, drawing from our deeply linked international community and tailor-made skilled insights, throughout each area and market—overseeing greater than $2 trillion in property below supervision worldwide as of June 30, 2022. Pushed by a ardour for our purchasers’ efficiency, we search to construct long-term relationships primarily based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Administration invests within the full spectrum of alternate options, together with non-public fairness, progress fairness, non-public credit score, actual property, and infrastructure. Since 2003, the Progress Fairness enterprise inside Goldman Sachs Asset Administration comprising greater than 75 people has invested over $13 billion in corporations led by visionary founders and CEOs. We focus completely on investments in progress stage and technology-driven corporations spanning a number of industries, together with enterprise know-how, monetary know-how, client, and healthcare.

About GiantLeap Capital
GiantLeap Capital is a next-generation non-public funding agency centered on investing in applied sciences which might be reworking important industries on the convergence of bodily and digital infrastructure. The agency takes a long-term, thematic strategy to offer versatile capital centered on idiosyncratic funding alternatives throughout progress levels. For extra info, please go to https://www.giantleapcapital.com.