SOURCE: Voltage Security

October 22, 2007 07:10 ET

Voltage Security Closes $12M in Expansion Round Financing

Trident Capital Leads Series D; Proceeds to Fuel New Product Introductions

PALO ALTO, CA--(Marketwire - October 22, 2007) - Voltage Security, Inc. (www.voltage.com), a global leader in information encryption, today announced the completion of a $12M Series D round of financing. Proceeds will drive further investment in new product development, as well as fund supporting sales and marketing initiatives. Trident Capital led the round with participation from existing major investors including Hummer Winblad Venture Partners, Morgenthaler Ventures, Menlo Ventures, Cipio Partners and JAFCO Ventures. Peter T. Meekin, Managing Director at Trident Capital, joins the Voltage Board of Directors.

"The security sector continues to experience strong growth driven by companies like Voltage that offer innovative technology packaged into easy-to-use, low overhead solutions," said Meekin. "We are particularly excited about the outstanding list of Voltage customers, their aggressive new product lineup, and their track record of financial performance, including stellar growth from the Voltage Security Network, a security-as-a-service solution that provides best-of-breed information encryption in a very affordable, subscription-based pricing model."

"Our information encryption solutions change the game in security by protecting information as it moves, from computer to computer, within and beyond the enterprise walls," said Sathvik Krishnamurthy, President and CEO of Voltage Security. "This investment enables us to aggressively bring to market the new solutions that our growing customer base is demanding, and we are delighted to have Trident join our existing world class investors with their strong track record and deep understanding of the security sector."

This funding comes on the heels of Voltage's recent announcement of record financial performance for the first half of 2007 including nearly 80% growth in revenues for the trailing four quarter period and positive cash flow from operations for the past two consecutive quarters.

Voltage board members include Ann Winblad, Co-founder and Managing Director of Hummer Winblad Venture Partners; Ken Gullicksen, Partner, Morgenthaler Ventures; Mark Siegel, Managing Director, Menlo Ventures; Srivats Sampath, President and CEO of Social fm; Dr. Dan Boneh, Professor of Computer Science at Stanford University and Co-founder of Voltage Security, Inc.; Sathvik Krishnamurthy, President and CEO of Voltage Security, Inc, and Peter T. Meekin, Managing Director of Trident Capital.

About Trident Capital

Trident Capital is a leading venture capital and private equity firm with over $1.5 billion of capital under management, including $400 million raised in its most recent fund, Trident Capital Fund VI.

Trident's core investment focus has remained consistent since inception in 1993. Trident focuses on investments in the business services, information services and software sectors across a variety of industries, one of which is security. Within its sector focus, Trident invests across multiple stages, including traditional venture capital investing as well as investments in micro-cap public companies, buyouts and consolidation platforms. The firm has made over 120 investments since inception. Some of Trident's security investments include: AirTight Networks, Arxan Technologies, KSR, MegaPath Networks, Qualys, Sygate (acquired by Symatec), Tablus (acquired by EMC), Thor Technologies (acquired by Oracle), TriCipher, Vidient Systems and Voltage Security. Trident has investment offices in Palo Alto, Calif. and Westport, Conn. For more information, visit the firm's website at www.tridentcap.com.

About Voltage Security

Voltage Security, Inc., an enterprise security company, is the global leader in information encryption. Voltage solutions, based on next generation cryptography, provide encryption that just works for protecting valuable, regulated and sensitive information persistently and based on policy. Voltage delivers power, simplicity and the lowest total cost of ownership in the industry through the use of award-winning Voltage Identity-Based Encryption™ (IBE). Voltage Security offerings include Voltage SecureMail™, the Voltage Data Protection System™ and the Voltage Security Network™ (VSN), an on-demand managed service for the extended business network.

Voltage Security is the number one OEM provider of email encryption technology in the world with OEMs that include Microsoft, Proofpoint, Secure Computing, Sendmail, Canon, Code Green Networks and NTT Communications. The Company has been issued several patents based upon breakthrough research in mathematics and cryptographic systems. Customers include over 1.2 million licensed and deployed users at Global 1000 companies in banking, retail, insurance, energy, healthcare and government, such as American Board of Family Medicine, Diebold, Integro Financial, NTT Communications, SafeAuto Insurance, Winterthur Life UK Ltd. and XL Global Services. For more information please visit http://www.voltage.com.

Voltage Enterprise Privacy Management, Voltage Identity-Based Encryption, and Voltage SecureMail are registered trademarks of Voltage Security, Inc. All other trademarks are property of their respective owners.

Contact Information

  • Contact:
    For Voltage Security:
    Contact:
    Julie McHenry
    Communication Insight, LLC
    Email Contact
    +1 (650) 504-6655
    OR
    Wasim Ahmad
    Voltage Security, Inc.
    Email Contact
    +1 (415) 279-4594