WASHINGTON, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Virtru, a pioneer in data-centric security, announced strong business growth in 2024 achieving 31% year-over-year growth as enterprises increasingly prioritized data-centric security. This momentum reflects the broader market shift toward security models that move beyond perimeter defenses to secure sensitive data wherever it resides or travels — a principle reinforced by the recent success of the US Department of Defense’s (DoD) Project Olympus, which emphasizes secure data sharing across allied networks.
The Zero Trust market, projected to grow at a compound annual growth rate of 16.6% over the next five years1, has seen a surge in enterprise and government adoption. This includes solutions designed not only to prevent data loss but also to enable secure sharing of sensitive information with external partners.
“Zero Trust isn’t just about keeping bad actors out — it’s about enabling secure, efficient collaboration,” said John Ackerly, CEO and Co-Founder of Virtru. “In 2024, we saw unprecedented interest in solutions that make data both secure and shareable. This is the new frontier of cybersecurity, and Virtru is proud to lead the way.”
Key Milestones of 2024
1. Growth
- Revenue Expansion: Virtru achieved over 31% year-over-year growth in annual recurring revenue (ARR), fueled by new customer acquisitions and multi-product expansions across its existing customer base.
- Average Contract Value (ACV) and Net Dollar Retention (NDR): ACV increased 37% year-over-year, driving 118% NDR as customers expanded their adoption of multiple products.
- Multi Product Momentum: In H2 2024, Virtru’s new secure file sharing application, Secure Share, generated more ARR than the company’s established secure email offerings.
- Sector Success: A 220% increase in national defense and intelligence sectors revenue, reflected by heightened government investment in Zero Trust data security. Virtru’s solutions now support mission-critical use cases for numerous national defense customers including the US Department of Defense, NATO allied militaries, and intelligence agencies.
2. Product Innovation
- Platform Enhancements: The Virtru Data Security Platform received major upgrades, empowering customers to deploy the platform within their own data center or Virtual Private Cloud (VPC). Additionally, the platform now offers full support for the Zero Trust Data Format (ZTDF), recently adopted by NATO.
- New Policy Enforcement Points (PEPs): New policy enforcement points were introduced, including integration with Microsoft SharePoint.
- Open-Standard Expansion: Virtru's Trusted Data Format (TDF), a foundational element of the platform, saw increased adoption within the defense and intelligence community. This included integration into the Five Eyes (FVEY) Allied Communications Publication (ACP) standards. To further support developers, a new Go SDK was introduced, complementing the existing Java and Web SDKs.
3. Thought Leadership
Virtru’s leadership in data-centric security was on full display in 2024:
- AWS Re:Invent: Virtru presented at AWS Re:Invent on best practices for securing sensitive data using TDF within AWS Trusted Secure Enclave (TSE) environments.
- NATO Edge: Virtru joined an expert panel at NATO Edge to discuss Zero Trust data-sharing architectures, highlighting how Virtru’s open standards align with emerging security policies among NATO allies.
Looking Ahead: Data-Centric Security as the Engine of Zero Trust
The maturation of the Zero Trust market has cemented data-centric security as a core driver of modern cybersecurity strategies. Virtru’s innovations — anchored in the open-standard Trusted Data Format — continue to reshape how organizations secure sensitive data while enabling seamless sharing across digital ecosystems.
“2024 has proven that Zero Trust isn’t just a buzzword — it’s a movement, and data-centric security is its engine,” Ackerly said. “As data flows more freely across global networks, organizations that succeed will be those that can share sensitive information without fear.”
About Virtru
Virtru empowers organizations to unlock the power of data while maintaining control wherever it’s stored and shared. Trusted by over 6,000 global customers, Virtru provides simple, powerful solutions for Zero Trust data-centric security, underpinned by the Trusted Data Format (TDF). Learn more at Virtru.com.
Contact
Nick Michael
Virtru
nick.michael@virtru.com
1 Markets and Markets: Zero Trust Security Market Size Share, Growth Analysis 2024
