SecureWave Raises EUR 3M in Series B Financing Round
New Funding by Index Ventures to Fuel Aggressive Growth in the U.S. Endpoint Security Market
Luxembourg, Feb. 3, 2005
SecureWave, a leader in endpoint security software, announced today it has closed a EUR3m series B funding round led by Index Ventures. The new funds will fuel aggressive growth of the company in North America, including expanding sales and marketing operations in the region. Index joins existing SecureWave investor, Mangrove Ventures. Index Partner Bernard Dalle will also join the SecureWave board of directors.
SecureWave's Sanctuary product suite turns blacklisting and the constant updating of signatures on its head, by focusing on those devices and applications allowed on the network. Administrators can easily manage a centralized list of allowed devices and executables - everything else is denied, period. The whitelisting approach shelters IT staffs from the Herculean task of maintaining blacklists and other frantic, reactionary approaches to managing device use policies.
The funding round follows a successful year for SecureWave, having doubled previous year sales and grown the company's roster of corporate customers to more than 700. Today, more than 750,000 corporate endpoints and servers have found Sanctuary from the threat of unauthorized devices and executables.
"The new funding is a testament to our company's ability to execute, something made evident by the growth we have experienced over the past three years," said Bob Johnson, CEO of SecureWave. "Even with the rapid adoption of the Sanctuary suite by global organizations, we have only scratched the surface of the market opportunity facing the company. By expanding our global sales and marketing operations, we hope to introduce more enterprises to the efficiency, risk reduction and peace of mind that a whitelisting approach to endpoint security can deliver."
"SecureWave solutions have been developed and tested over many years to address serious security shortcomings at global organizations," said Bernard Dalle, partner at Index Ventures. "The company's highly differentiated "default-deny" approach is being embraced by the market as evidenced by the company's impressive customer base. Our investment will enable the company to further develop and market its product portfolio."
SecureWave is a leader in a new generation of endpoint security solutions vital to protecting desktops, laptops, servers and terminals. SecureWave provides Sanctuary(TM) to more than 500 enterprises worldwide in the financial, government, military, manufacturing and healthcare sectors, including CSC, Anglian Water Services, DaimlerChrysler, MTU Aero Engines, Commerzbank and Norwich Union.
SecureWave, recently named a Red Herring Top 100 Innovator, is headquartered in Luxembourg and services its global customer base via offices in the U.K., Washington D.C. and Research Triangle Park, N.C., as well as a network of reseller and service provider partners worldwide. To learn more about SecureWave, please call +1-919-806-4410 or visit www.securewave.com.
About Index Ventures
Index Ventures is a venture capital fund dedicated to helping top entrepreneurial teams build their companies into global leaders.
Index proactively seeks out opportunities to invest in companies with products and services that drive the transformation of their industries. Index's company building approach allows each portfolio entrepreneur to leverage the combined experience, networks and resources of the entire partnership. Managing $500 million in capital, the Index team has been active in technology investment since 1992. Investors in Index funds include major European and US institutions as well as Cisco, Oracle, Sun and AOL. The firm has offices in Geneva and London and focuses its activity primarily on Europe and Israel. Representative Index investments in the technology arena include European companies such as Betfair, MySQL, Skype, Video Island, Globespan Virata (acquired by Conexant), KVS (acquired by Veritas) and Ciao.