SOURCE: Arxan Technologies, Inc.

March 05, 2007 08:00 ET

Arxan Raises $13 Million in Series C Funding

Adds New Investors Legend Ventures and TDF Expands Board of Directors

BETHESDA, MD -- (MARKET WIRE) -- March 5, 2007 -- Arxan Technologies, Inc. today announced it has secured $13 million in Series C funding.

The round includes funding by two new investors -- Washington, D.C.-based Legend Ventures, LLC, a venture capital firm that invests in early stage new media, telecommunications and information technology companies, and TDF, a specialized communications fund. The round also includes funding from existing Arxan investors: EDF Ventures, Paladin Homeland Security Fund, Solstice Capital and Trident Capital.

Arxan technology protects intellectual property from software piracy, tampering, reverse engineering and any manner of theft. The company is an established leader in the security defense market, and is rapidly expanding its commercial customer base. Arxan will use the Series C funding to fund marketing, sales and research and development activities to expand Arxan's offerings into the commercial market.

"Software piracy is a costly and growing problem that affects nearly every hi-tech commercial industry," said Mike Dager, CEO and chairman for Arxan Technologies, Inc. "Building on our established presence within the defense industry, Arxan is well positioned to capitalize on this incredible market need both in the commercial desktop and embedded software markets, as well as in the multimedia DRM applications space."

With this latest round of funding, Arxan also adds Todd Klein, managing partner at Legend, to its board of directors.

"We are very excited about the market opportunity for Arxan as well as its world-class management team," said Klein. "To date, the company has demonstrated impressive growth and is well on its way to becoming a true leader in the intellectual property protection space."

About Arxan Technologies, Inc.

Arxan Technologies, Inc. ( protects Intellectual Property from software piracy, tampering, reverse engineering and any manner of theft. Arxan takes software security beyond static obfuscation and encryption to dynamically defend, detect and react against application attacks. Arxan supports the full gamut of anti-tamper and robustness needs, from basic copy protection all the way up to military grade assurance. Arxan's customers include government agencies, defense systems integrators, software vendors and content providers. Founded in 2001, Arxan Technologies has offices in Bethesda, Md., San Francisco, and West Lafayette, Ind.

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