SOURCE: StillSecure

November 24, 2008 15:47 ET

StillSecure Obtains $5 Million in Venture Debt From Silicon Valley Bank

SUPERIOR, CO--(Marketwire - November 24, 2008) - StillSecure®, provider of secure network infrastructure solutions, today announced that it has secured $5 million in venture debt financing from Silicon Valley Bank, the premier commercial bank for technology companies and a member company of SVB Financial Group (NASDAQ: SIVB). The financing will allow StillSecure to maximize investments across all areas of the business and to better insulate itself from the current and future economic climate.

"Over the past eight years I've watched StillSecure grow into a successful company with impressive year-over-year results," said Brad Feld, Managing Director of the Foundry Group. "I look forward to watching their growth for years to come."

"StillSecure continues to march forward rapidly. Even in this troubled economy, StillSecure is able to continue to grow its customer base and attract top tier financial partners," said Rajat Bhargava, President and CEO of StillSecure. "Our relationship with Silicon Valley Bank is a testament to the viability and sustainability of our company."

"StillSecure has made impressive strides in the network security space," said Frank Amoroso of Silicon Valley Bank. "We're proud to be the company's financial partner and look forward to helping it continue its growth."

Over the past year, StillSecure has been recognized repeatedly for its rapid growth, receiving the 2008 Deloitte Technology Fast 50 award, the 2008 IQ Award for "Computer Products and Services," the 2008 Esprit Award, and a finalist nomination for the 2008 American Business Awards.

About StillSecure

StillSecure specializes in commercial and open source secure network infrastructure solutions. Products include network access control (NAC), intrusion detection/prevention (IDS/IPS), vulnerability management and a unified networking/security platform. By converging networking and security, StillSecure provides innovative, intuitive and affordable solutions to operate secure networks. Established in 2000, StillSecure customers range from midsize organizations to the world's largest enterprises with a strong emphasis in government, financial services, education, and healthcare. For more information visit http://www.stillsecure.com or call 303-381-3830.

About Silicon Valley Bank

Silicon Valley Bank is the premier commercial bank for companies in the technology, life science, venture capital/private equity and premium wine industries. SVB provides a comprehensive suite of financing solutions, treasury management, corporate investment and international banking services to its clients worldwide. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients' success. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves clients around the world through 27 U.S. offices and international operations in China, India, Israel and the United Kingdom. Silicon Valley Bank is a member of global financial services firm SVB Financial Group (NASDAQ: SIVB), with SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services. More information on the company can be found at www.svb.com.

Contact Information