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ConSentry Networks Raises $20 Million in Oversubscribed Round; Significant Up-Round Supported by Accel Partners, INVESCO, Sequoia Capital, and New Investor DAG Ventures
MILPITAS, Calif. --(Business Wire)-- July 10, 2006 -- ConSentry Networks, a leading provider of secure LAN solutions, announced today that it has raised $20 million in its oversubscribed Series D round of funding. Existing investors Accel Partners, INVESCO Private Capital, and Sequoia Capital participated in the new round, joined by new investor Duff Ackerman & Goodrich (DAG) Ventures. ConSentry's total funding now stands at $51 million.
ConSentry will use the funds to build a stronger worldwide presence as demand for LAN control and security solutions gain momentum in Asia and Europe, rapidly approaching the uptake in the U.S. market.
"A lot of funding deals are done in Silicon Valley, but I only see one or two really good investment opportunities a year, and ConSentry is one of them," said John J. Caddedu, managing director of DAG Ventures. "ConSentry is an opportunity we had to be a part of; the LAN security market represents a disruptive technology shift and a multi-billion dollar opportunity, and ConSentry has the innovative technology, market traction, and team to take advantage of it."
ConSentry's LANShield family of products, which enables customers to embed security directly into their LAN infrastructure, provides the full set of security features needed to protect enterprise assets. The LANShield family provides network admission control to restrict who can come onto the LAN, full Layer 7 visibility into all user activities, control over user access to authorized resources through role-based provisioning, and threat control to prevent zero-hour attacks from compromising network availability.
"ConSentry is leading the integration of security and switching in a market that hasn't undergone this scope of change in more than 10 years," said Tom Barsi, ConSentry Networks' president and CEO. "The additional funding will help us capitalize on the LAN security wave and the growing worldwide demand by enterprises for more security and control embedded in their networks."
About ConSentry Networks
ConSentry Networks delivers comprehensive LAN security, enabling businesses to protect their corporate assets, ensure continuity of operations, and dramatically reduce the risk of security breaches. ConSentry enables this pervasive security while lowering IT's cost of operations through its flexible, high-performance platform powered by ground-breaking custom silicon and revolutionary LAN security software. Backed by blue-chip venture capital firms that include Accel Partners, INVESCO Private Capital, and Sequoia Capital, ConSentry is headquartered in Milpitas, California.
ConSentry Networks, the ConSentry Networks logo and LANShield are trademarks of ConSentry Networks Inc., for use in the United States and other countries. All other product and company names herein may be trademarks of their respective holders.
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