Highlights:

  • Users can enjoy enhanced business agility without compromising security through the solution.
  • Fortanix’s solution is designed for simplicity, scalability, and seamless integration with various cloud and application vendors for a cohesive value chain.

Fortanix Inc., a multicloud security company, recently announced significant progress in several industries and increased the size of its ecosystem with the release of its Data Masking and Tokenization Solution.

The Fortanix Data Masking and Tokenization Solution, dubbed the industry’s first software-as-a-security solution powered by confidential computing, is intended to address the rising number of data breaches and changing data privacy regulations organizations will face in 2023.

The new approach helps SaaS key management customers adopt data masking and tokenization by enhancing Fortanix’s Data Security Manager platform. Users can gain greater business agility with the help of the solution without sacrificing security. According to Fortanix, the solution has been created with simplicity and scalability in mind, making it an attractive option for integrating into various cloud and application vendor solutions for a more seamless value chain.

Fortanix also revealed that it recently signed significant, yet unnamed, customers for its platform. A Fortune 500 global logistics company used the solution as part of its data security modernization initiative to strengthen security via a unified platform, and a Global 500 luxury car manufacturer secured customer and industry-specific data on its private cloud using Fortanix. A major American financial institution has also adopted the approach to protect sensitive data at the application level before transferring it to the cloud.

The platform from Fortanix is advertised as a remedy for the proliferation of enterprise data. The business claims it poses serious difficulties because managing and preventing unsecured communication is difficult. Inconsistent regulatory requirements across different regions, isolated teams, and fragmented security stacks are other problems. These problems are addressed by Fortanix, which makes it easier to tokenize and mask sensitive data across different sources, enabling compliance with various regulatory requirements.

Co-founder and Chief Executive Anand Kashyap said, “Our goal is to remove the mask off the complexity and place it on data instead. The Fortanix SaaS solution is not just an industry-first – it’s also built on the foundation of confidential computing that makes it inherently secure compared to anything else out there. It can truly become an easy button to secure sensitive data.”

A venture capital-backed business, Fortanix most recently raised USD 90 million in September. Among the investors are GiantLeap Capital LLC, Intel Capital Corp., Neotribe Ventures LLC, Foundation Capital LLC, and In-Q-Tel Inc.