[August 10, 2007] PacketMotion Raises $7.5 Million in Third Round of Financing; Brings Total Equity Funding to $34.5 Million Tweet SAN JOSE, Calif. --(Business Wire)-- PacketMotion, Inc., a provider of enterprise security and compliance solutions for the Fortune 2000, announced today the company has secured $7.5 million in its third round of funding. Investors include Intel Capital, ONSET Ventures, and MDV-Mohr Davidow Ventures and brings the company's funding total to $34.5 million in three rounds of funding. The company also announced that Bob Lux will be joining PacketMotion as vice president of corporate operations. The new funding will be used for product development and expansion of sales and marketing efforts to the Fortune 2000 enterprises. "Major enterprises seek a much deeper level of visibility and control of transactions affecting their critical information assets," said Paul Smith, CEO of PacketMotion. "Our customers have told us that in this environment they need the ability to not only see transactions on the network, but to control them in real-time, with higher performance and scalability, and with stronger interfaces to the identity and compliance ecosystems of their enterprise. We are excited about finalizing and launching our next generation products that directly meet these requirements." "PacketMotion is well positioned to capture the growing opportunities in the security and compliance systems market," said Susan Mason, general partner with ONSET Ventures. "We are very pleased to support the company's growth and evolution." As part of this evolution, PacketMotion also announced that Bob Lux has joined the company. In his role as VP of corporate operation, Bob will be responsible for operations, customer service and support, IT, and human resources. Lux joined PacketMotion from Nortel Networks which he joined when Nortel acquired Tasman Networks in February, 2006. At Tasman, he was a member of the Board of Directors from June 2000 and vice president of marketing and customer support in June 2005. Prior to that, Lux served in several capacities at ONStor, Inc., including vice president of Sales, Channel Development, Customer Support and Customer Satisfaction. Previously Lux served as the first formal operating partner at Mayfield Fund and was vice president of Customer Satisfaction at Vixel Corporation. Bob was co-founder, chairman, president, and CEO of BayStone Software, Inc. which was sold to Remedy in 1998. Mr. Lux also held vice president and executive positions in customer service, quality, IT, and sales at Auspex Systems, Sun Microsystems, Apollo Computer, and Digital Equipment Corporation. Lux attended New York University and is a graduate of MPE at the University of Pittsburgh Graduate School of Business. He was in the United States Navy for six years as a member of the nuclear submarine service. "The market for enterprise security and compliance solutions is becoming more important by the day," said Lux. "With our unique technology and established customer base, PacketMotion has a tremendous opportunity to successfully deliver new generations of solutions into the market." About PacketMotion A provider of security and compliance solutions for the Fortune 2000, PacketMotion enables IT professionals to see and control transactions on their networks in real time. With this capability, businesses can guarantee the safety of their intellectual property, identify and control internal security threats to ensure internal and external compliance without burdening their network operations. The company is funded by Intel Capital, MDV-Mohr Davidow Ventures and ONSET Ventures. For more information go to www.packetmotion.com. About Intel Capital Intel Capital, Intel's global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software and services targeting enterprise, home, mobility, health, consumer Internet and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$6 billion in nearly 1,000 companies in more than 40 countries. In that time, about 180 portfolio companies have been acquired by other companies and another 155 have gone public on various exchanges around the world. In 2006, Intel Capital invested about US$1.07 billion in 163 deals with approximately 60 percent of funds (excluding Clearwire) invested outside the United States. For more information on Intel Capital and its differentiated advantages, visit www.intel.com/capital. About MDV-Mohr Davidow Ventures MDV invests in entrepreneurs creating businesses that address significant challenges and opportunities associated with Driving the Digital World, Personalizing Medicine and Powering the Planet. For nearly 25 years MDV has partnered with entrepreneurs and taken a hands-on approach to architect and help build successful companies. MDV's team and the firm's extended network of industry experts bring years of real-world experience to accelerate each company's time to market and optimize its long-term success. The firm has $1.4 billion under management. Among the many MDV funded companies that have gone public or been acquired are: Actuate; Agile (ORCL); Auspex; Broadbase (KANA); Brocade; Epigram (BRCM); FormFactor; Freshwater Software (MERQ); Ipsilon Networks (NOK); Kalpana (CSCO); Numerical Technologies (SNPS); ONI Systems (CIEN); Pivotal Technologies (BRCM); Rambus; Vantive; Vitesse; and Zip2 (AltaVista). For more information, visit www.mdv.com. About ONSET Ventures ONSET Ventures (www.onset.com) specializes in providing an ideal mix of start-up, follow-on, and intellectual capital to entrepreneurs and early-stage technology ventures, to help transform world-class ideas into sustainable and valuable businesses, through a process of "venture craftsmanship." The firm has backed over 100 companies since 1984 and now has more than $700 million under management. ONSET's venture craftsmanship, refined over 20 years, includes a highly-optimized tool set for risk and capital management, and a shirt-sleeves style of active collaboration with entrepreneurs that leverages the firm's substantial operating experience. That collaboration frequently begins before the closing of any financing, and typically continues throughout the life of the venture. This approach, which has become the hallmark of the firm, has resulted in the crafting of ventures that have consistently met their operational and financing milestones. In addition, it has resulted in a franchise that not only brings successful, serial entrepreneurs back to ONSET Ventures time and again, but also attracts investors who want the increasingly rare opportunity to participate in very early stage venture investing. ONSET Ventures focuses exclusively on information and medical technology-based start-ups, and has a long history of successful ventures in each of these sectors. Intel and the Intel logo are trademarks or registered trademarks of Intel Corporation or its subsidiaries in the United States and other countries. -- Other names and brands may be claimed as the property of others. [ Back To TMCnet.com's Homepage ]