Security firm Fortanix raises $90M

Fortanix, a provider of data security software, announced that it has raised $90 million after closing a Series C funding round, according to Yahoo and TechCrunch. Company CEO and co-founder Ambuj Kumar says they are aiming to provide a better approach to data security than the current infrastructure- or endpoint-focused solutions sought by enterprises and provided by vendors today. This is because of the increasing fragmentation of data across storage systems, clouds and software-as-a-service applications. Businesses and government agencies are looking for a new approach to keep their data safe regardless of where it is, especially in the cloud. They require protection of their sensitive and regulated data, throughout its life cycle -- at rest, in motion and in use, Kumar said. Fortanixs software solutions provide data security whether the data is stored in public, private, multicloud or hybrid cloud environments while also encrypting databases and managing sensitive app information such as usernames and passwords. The company also provides confidential computing, which is a technology that deploys an encrypted CPU enclave where sensitive data can be processed in isolation, restricting access to authorized programming code.