Goldman Sachs backs CyberTech Fortanix in $90m Series C


Fortanix, a data-first multi-cloud security firm, has raised $90m from a Series C financing round headed by Goldman Sachs.

The round was headed by the growth equity business within Goldman Sachs Asset Management. Also taking part were GiantLeap Capital, Foundation Capital, Intel Capital, In Q-Tel and Neotribe Ventures.

Alongside the funding, Soumya Rajamani vice president at Goldman Sachs will join the board of directors at Fortanix.

Fortanix said that the funding builds upon the significant growth the company has experienced despite the pandemic and the recent economic conditions.

The data-first approach to security advocated by Fortanix helps to decouple security from infrastructure and provides a way to secure data, wherever it is. The firm technology allows organisations to conform to privacy laws and regulatory requirements globally including GDPR, HIPAA, PCI, ITAR and several others.

Fortanix claims it counts several Fortune 500 businesses as its customers, as well as several US government agencies. The company experienced more than 500% growth over the past three years, placing it in the top quarter of the annual 5000 list of the fastest-growing private firms in the US for 2022.

Fortanix CEO and co-founder Ambuj Kumar said, ?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. 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.”

Copyright ? 2022 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.