SUNNYVALE, Calif., February 15, 2023 – Intrinsic ID, the world’s leading provider of Physical Unclonable Function (PUF) technology for security and authentication applications in embedded systems and the Internet of Things (IoT), today announced that it is now protecting 500,000,000 devices worldwide with cutting-edge security technology.
This milestone achievement has been fueled by the vital need for security that our connected world is experiencing. With the rapidly growing number of devices that make up the IoT, it is no longer possible to connect these devices without having proper security in place. On top of the increasing need for protecting IoT devices comes an industry-wide shift from software-only to hardware-based security solutions, especially when it comes to protecting cryptographic keys.
The combination of these two trends has resulted in an exponential adoption rate of Intrinsic ID SRAM PUF technology. SRAM PUF facilitates the creation of a root of trust in hardware without the need to store keys in an easy and flexible manner at low cost. These benefits of Intrinsic ID technology have given the company a strong position in the security markets for government and defense, industrial IoT, and data centers, while aiding expansion into new, high-growth vertical markets including automotive, wearables, healthcare, AI, and smart cities and homes.
Recent key achievements of Intrinsic ID include:
- Exponential adoption of Intrinsic ID PUF technology. The number of new devices deployed with Intrinsic ID technology in 2022 was almost double compared to the number of devices in 2021.
- Customer retention. A rapidly growing number of license deals is coming from recurring customers, which shows strong customer retention.
- Strong 2022 financial performance. In 2022 revenue grew to a new record high, more than doubling 2021 revenue and making Intrinsic ID highly profitable in 2022.
- Team Growth. During 2022 the Intrinsic ID team grew by about 20%. Team Growth continues in 2023 with vacancies across different departments inside the company.
Creating a better world that can be trusted
“Ensuring the reliability and trustworthiness of our electronics systems has become a critical concern worldwide, and is at the forefront of our remarkable success,” said Dr. Pim Tuyls, CEO and co-founder of Intrinsic ID. “Our cutting-edge security IP is now integrated into more than half a billion devices, found everywhere from your wrist to data centers, and even in space. We closed out 2022 on a high note and are eager to continue this momentum in 2023 as we collaborate with our customers and partners to build a more secure and trustworthy world. With high growth potential in verticals such as automotive, data centers, and AI, we are confident in our continued success and we are actively expanding our team to support this growth.”
Intrinsic ID security solutions offer the best combination of security, flexibility, and cost and are used by leading global technology companies to authenticate devices, protect data, secure communications, and establish a secure root of trust.