TMCnet Feature

RedSeal Networks has raised some $10 million from investors in a recent funding round. The money will help the IT security products company expand globally – especially in Europe and in India.

In Europe, RedSeal plans to “significantly increase the size and reach of its sales and channel programs” given “the growing interest in proactive security intelligence among multinational firms,” according to a company statement. Recently, RedSeal has added new customers in Europe, such as UK-based Betfair. Betfair is an online gaming company, and will use RedSeal's proactive network security assessment solutions, says TMCnet.

RedSeal also just opened a division in India, based in Bangalore. Among its customers is Tata Communications (News - Alert).

Taking part in the new funding round were current investors including: Venrock, OVP Venture Partners, Sutter Hill Ventures, JAFCO Ventures and Leapfrog Ventures. Each of the firms has invested in RedSeal since 2004.

"RedSeal is one of the most strategic and influential providers on the global security market based on its ability to solve the most acute challenges faced by every large enterprise security organization today, complexity and change," Ray Rothrock, chairman and Partner of Venrock, said in a press release. "The constant evolution of security infrastructure makes it nearly impossible for even the best professionals in any organization to maintain the visibility necessary to ensure compliance and critical asset protection, or measure their progress over time."

In North America, the company has seen sales in key vertical markets such as  financial services and retail, as well as demand from monitoring required by  the U.S. government.

"The market's overwhelming acceptance of proactive security intelligence and the breadth of opportunities that we're seeing worldwide today clearly demonstrate huge growth potential,"  Parveen Jain, president and CEO at RedSeal, said in the company press release. "Our committed investors, like our customers, recognize that RedSeal is poised to take off into a much higher orbit, and they took the opportunity to enable us to move even faster, and distance ourselves from any other approach in the world, by expanding even more aggressively."