Company Ranks No. 23 Among Security Companies and No. 1,710 Overall, Reflecting Rapid Growth as a Data Security Leader
Fortanix® Inc., a leader in data-first cybersecurity and pioneer of Confidential Computing, today announced it was included on the 2024 Inc. 5000 list of fastest-growing private companies, coming at No. 1,710 overall and No. 23 among security companies. The annual Inc. 5000 list is a prestigious ranking that provides a data-driven look at the most successful companies within the economy’s most dynamic segment—its independent, entrepreneurial businesses.
“All of us at Fortanix are honored to be recognized in the Inc. 5000 because it exemplifies the tremendous growth we have experienced as a company,” says Anand Kashyap, CEO and co-founder of Fortanix. “In a challenging time in cybersecurity where data security becomes more complicated every day, we continue to understand what our customers need and develop solutions that work, and our growth reflects the company’s commitment to that mission, and the value that our security offerings deliver to enterprises.”
The Inc. 5000 class of 2024 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. Among this year’s top 500 companies, the average median three-year revenue growth rate is 1,637%. In all, this year’s Inc. 5000 companies have added 874,458 jobs to the economy over the past three years.
“One of the greatest joys of my job is going through the Inc. 5000 list,” says Mike Hofman, who recently joined Inc. as editor-in-chief. “To see all the intriguing and surprising ways that companies are transforming sectors, from health care and AI to apparel and pet food, is fascinating for me as a journalist and storyteller. Congratulations to this year’s honorees, as well, for growing their businesses fast despite the economic disruption we all faced over the past three years, from supply chain woes to inflation to changes in the workforce.”
In the past year, Fortanix registered strong performance in several critical areas, including a record number of new customer acquisitions across regions, worldwide expansion, strategic partnerships around the world, and some of the largest deals in company history. Fortanix also recently announced a major expansion to the Key Insight solution, allowing organizations to proactively discover, assess, and remediate their cryptographic security risks on premises, and in multicloud environments.
For complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location, and other criteria, go to www.inc.com/inc5000. All 5000 companies are featured on Inc.com.
Methodology
Companies on the 2024 Inc. 5000 are ranked according to percentage revenue growth from 2020 to 2023. To qualify, companies must have been founded and generating revenue by March 31, 2020. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2023. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2020 is $100,000; the minimum for 2023 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places.
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