Iron Mountain total revenue worldwide 2018-2023, by segment

In 2023, Iron Mountain reported global revenue of 5.48 billion U.S. dollars, with the greatest share, around 85 percent, generated by the company's Global Records and Information Management (RIM) business.

Storage rental accounts for the majority of RIM revenue

Iron Mountain’s RIM business comprises its core record management offering. This includes a range of services for all stages of the document lifecycle, including delivery, archiving, retrieval, and shredding. Around two-thirds of revenue generated by the RIM business was attributed to storage rental in 2023, with the remainder attributed to services. Iron Mountain’s second-largest segment is its data center business, which was launched in 2013 to meet client demand for colocation and hyperscale capacity.

From atomic weapons to cyberattacks

Iron Mountain was founded in the 1950s, when Herman Knaust converted a disused iron ore mine into a document storage facility. He had previously used the space to farm mushrooms but spotted a growing need for bomb-resistant storage capacity amid Cold War nuclear threats. As Iron Mountain has expanded to handle digital assets, it has come to face a very different threat in the form of cyberattacks. With global businesses concerned by attempts to seize financial and customer data, Iron Mountain has sought to reassure clients by emphasizing the complexity of its security measures.