SOURCE: Black Lotus

Black Lotus

April 07, 2014 08:50 ET

Black Lotus Secures $6M in Debt Financing From East West Bank

Leading Provider of Distributed Denial of Service (DDoS) Attack Mitigation Services to Accelerate Deployment of Global Network

SAN FRANCISCO, CA--(Marketwired - Apr 7, 2014) - Black Lotus, a leader in availability security and provider of distributed denial of service (DDoS) protection, today announced it has secured an initial debt facility of $6M, provided by East West Bank, to accelerate its ambitious global expansion initiatives leading to unprecedented upgrades to domestic DDoS mitigation centers and the launch of international locations to include an initial launch in Amsterdam within the next month. The Company will use the financing to scale the footprint, capacity, and resiliency of its DDoS mitigation capabilities.

As the frequency and severity of service impacting DDoS attacks continues to escalate, service providers and enterprises are increasingly relying on the best equipped DDoS mitigation firms to deliver results in the face of daunting threats. Earlier this year Black Lotus released a Threat Report detailing a 421 Gbps attack against its network and numerous customers for which the company provided prompt and effective defense. Through continuous capacity upgrades and footprint expansions, the company will continue to defend its customers against future threats and will improve the performance of these solutions for customers across the globe.

"The current threat environment demands that DDoS mitigation service providers be prepared for literally any contingency," said Arman Khalili, CEO at Black Lotus, "Our latest fundraising will be invested to guarantee peace of mind for our clients who value fault tolerant, high performance security solutions to defend their businesses and downstream customers."

"Since its acquisition by Industry Capital in 2013, Black Lotus has grown monthly revenue by over 100% and expanded from a single physical location to a nationwide footprint at 5 datacenters, providing DDoS protection services for over 250 networks, servicing more than 1 million end users" said Warren Dewar, CFO of the Company. The Company recently announced partnerships with CoreSite and Iron Mountain, further extending its reach into the "meet me areas" of 8 additional markets. The Company had recently raised a $3.5 million financing from Industry Capital in October 2013.

About Black Lotus Communications
Black Lotus Communications is an availability security innovator that pioneered the first commercially viable DDoS mitigation solutions. These advanced solutions enable service providers and enterprises to protect their networks against DDoS attacks and to offer DDoS protection as a service. Breakthrough developments at Black Lotus include the world's first DDoS protected hosting network, the first IPv6 DDoS mitigation environment, and the first highly effective application layer attack mitigation strategy. For more information, visit www.blacklotus.net or follow Black Lotus on Twitter at https://twitter.com/ddosprotection.

About East West Bank
East West Bancorp is a publicly owned company with over $26.0 billion in assets and is traded on the Nasdaq Global Select Market under the symbol "EWBC". The Company's wholly owned subsidiary, East West Bank, is one of the largest independent banks headquartered in California. East West is a premier bank focused exclusively on the United States and Greater China markets and operates over 130 locations worldwide, including in the United States markets of California, Georgia, Nevada, New York, Massachusetts, Texas and Washington. In Greater China, East West's presence includes a full service branch in Hong Kong and representative offices in Beijing, Chongqing, Shenzhen, Taipei and Xiamen. Through a wholly-owned subsidiary bank, East West's presence in Greater China also includes full service branches in Shanghai and Shantou and a representative office in Guangzhou.

Contact Information

  • For more information, please contact:
    Justine Boucher
    Metis Communications
    617-236-0500
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