Voltage Security Celebrates 10 Years of Identity-Based Encryption; Rapidly Growing Commercial Adoption within Global 2000 Companies
Cupertino, Calif. – August 24, 2011 – Voltage Security, the world leader in datacentric encryption and key management, today announced metrics associated with the rapid adoption of Voltage Identity-Based Encryption (IBE) since its first introduction 10 years ago. Over the past 10 years, IBE has become one of the fastest deployed encryption technologies as measured by the commercial adoption of Voltage SecureMail and the use of IBE as a general purpose key management solution used across the Voltage Security product line. Since its commercial launch 8 years ago, Voltage SecureMail has become one of the most widely adopted secure email products in the world with over one billion secure business emails sent annually and over 50 million worldwide users; those numbers are expected to double by 2014.
IBE was first introduced on Tuesday, August 21 at the 2001 Crypto conference in a seminal paper by Dan Boneh, Stanford University, and Matt Franklin, University of California Davis. The paper, titled “Identity-Based Encryption from the Weil Pairing,” set forth a simple but powerful approach for encrypting information with identity-based keys.
This cryptography breakthrough became the founding technology for Voltage Security that was incorporated in 2002 by three Stanford students working with Professor Boneh: Matt Pauker, Rishi Kacker and Guido Appenzeller. In July 2003, the new company launched Voltage SecureMail, an email encryption product using IBE to secure messages without the difficulties and expenses of traditional certificates.
Key metrics in the 10 year history of IBE:
- 50 million Voltage SecureMail users worldwide.
- Approximately one billion IBE secured business emails will be sent in 2011.
- By 2014, it is estimated there will be 100 million Voltage SecureMail users and over two billion secure emails will be sent that year.
- Nearly one third of the world’s 20 biggest public companies (per the Forbes Global 2000) have standardized on Voltage SecureMail.
(Note: Please go here to find the Voltage IBE Key Metrics Infographic.)
“We are proud of the commercial trajectory that IBE has taken,” said Sathvik Krishnamurthy, president and CEO Voltage Security. “Our customers, OEMs and global System Integrator partners have benefited from the significant scalability and lowest total cost of ownership delivered by the use of IBE. We are seeing consistent growth and adoption by the biggest companies in the world conducting global scale roll-outs of Voltage SecureMail which would not be possible without the cryptographic breakthrough represented by IBE.”
“We never dreamed IBE would become the foundation of ubiquitous and vital business products,” said Dan Boneh, professor of Computer Science and Electrical Engineering at Stanford University. “It is extremely gratifying to know that millions of people around the world are using our innovation, and that it is giving people the confidence to send private and confidential information using electronic means.”
World’s Biggest Companies Standardize on Voltage SecureMail
Nearly one third of the world’s 20 biggest public companies (as listed by Forbes Global 2000) have standardized on Voltage SecureMail powered by IBE including several of the world’s largest global financial institutions; one of the world’s largest retailers, one of the largest U.S. managed healthcare providers and several large regional healthcare providers.
Notable Voltage SecureMail customers from the last year include:
- One of the largest Wall Street banks with over 230,000 employees standardizes on Voltage SecureMail.
- A Fortune 50 global financial services company deploys Voltage SecureMail to over 320,000 internal and several million external users across 86 countries, replacing an aging PKI-based encryption technology.
- A major Wall Street bank and Fortune 100 financial services provider with global operations chooses Voltage SecureMail for its 100,000 employees around the world.
- A major credit card brand with over 60,000 employees standardizes on Voltage SecureMail.
- An award-winning regional health care organization replaces a non-functioning email security solution from one of the largest technology companies in the world with a policy-based encryption solution from Voltage SecureMail.
In addition, over 1000 enterprise companies have standardized on Voltage SecureMail, and thousands of mid-size to smaller business use the cloud-based Voltage SecureMail Cloud solution to protect private and confidential information.
“As more and more companies take advantage of mobile and cloud computing we expect to see accelerating demand for our data-centric encryption solutions. The scalability, ease of use and lowest total cost of ownership of Voltage solutions powered by IBE lend themselves well to these rapidly emerging computing platforms,” continued Krishnamurthy.
Over the years, Voltage has continued developing new cryptography breakthroughs and commercializing them in innovative market solutions. In 2008, Voltage introduced Format-Preserving Encryption, (FPE), an encryption approach for the protection of structured data commonly kept in large data files, including lists of credit card numbers, social security numbers, bank account numbers, etc. Voltage FPE is a simple, powerful way to protect this class of private, confidential data while still enabling it to be used in processing applications. Since the introduction of FPE, Voltage SecureData, the Voltage product incorporating Voltage FPE, has been adopted by several of the largest payment processors including Elavon, Heartland Payment Solutions, Vantiv (Fifth Third Processing Solutions) and others, and has been integrated through an open licensing program into the widest range of payment entry devices.
Most recently, Voltage introduced a new encryption protocol, Page-Integrated Encryption designed to more easily provide powerful protection for mobile and e-commerce-based transactions and available as Voltage SecureData Web.
More information on Voltage Security products is available at www.voltage.com/products.
About Voltage Security
Voltage Security®, Inc., is the world leader in providing data-centric encryption and key management solutions for combating new and emerging security threats. With innovative, powerful and easy-to-use encryption solutions for protecting sensitive business data, Voltage customers are able to address privacy regulations and best practices from around the world. Voltage brings peace of mind and confidence to customers across a wide variety of industries including payments, financial, insurance, medical, e-commerce and more. Voltage solutions are based upon two ground-breaking encryption approaches: Identity-Based Encryption (IBE) and Format-Preserving Encryption (FPE). Voltage solutions have changed how enterprises protect their most valuable asset, their customer data. Offerings include Voltage SecureMail, Voltage SecureData, Voltage SecureFile and Voltage Cloud Services which provides cloud scale encryption and key management for businesses, partners and their customers. The company has been issued several patents based upon breakthrough research in mathematics and cryptographic systems. To learn more about Voltage customers please visit voltage.com/customers.
Note to Editors: Voltage Identity-Based Encryption, Voltage Format-Preserving Encryption, Voltage SecureMail, Voltage SecureFile, Voltage SecureData and Voltage Cloud Services, are trademarks of Voltage Security, Inc.
All other trademarks are property of their respective owners.