Encryption specialist Voltage Security reports good results
The growing popularity of one of the company’s products — Voltage Security Network — proves the viability of security-as-a-service business model
Good news for Palo Alto, California-based Voltage Security. The company reported record financial performance for the first half of 2007, including nearly 80 percent growth in revenues for the trailing four quarter period and positive cash flow from operations for the past two consecutive quarters. The company also said that:
* It now counts more than 370 enterprise customers including leading financial services firms, healthcare institutions, insurance companies, and retailers
* There are now nearly 1,000,000 licensed users of its flagship product Voltage SecureMail
* Its Voltage SecureMail is becoming the No. 1 OEM’ed secure e-mail solution; partner contribution now exceeds 40 percent of total bookings over the past four quarters
* Its Voltage Security Network solution has reached more than 35,000 paid subscribers in six months
The last point is important and has broader implications: Yesterday we wrote about the trend toward Web-based business continuity planning, and the growing popularity of the Voltage Security Network solution is proving yet another trend: The viability of the security-as-a-service (SaaS) business model.
