SOURCE: WhiteHat Security

WhiteHat Security

July 26, 2011 08:00 ET

WhiteHat Security Secures Funding From Leading Global Growth Equity Investment Firm

Investor Growth Capital Commits $8 Million to Support Market Demand and Advance WhiteHat Security's Leadership Position in Web Security Market

SANTA CLARA, CA--(Marketwire - Jul 26, 2011) - WhiteHat Security, the Web security company, today announced funding from Investor Growth Capital (IGC), a leading global growth equity investment firm, that will provide $8 million in new capital. The agreement with IGC marks the next stage of WhiteHat Security's product growth strategy and will provide strategic support for WhiteHat Security's vision to increase its presence around the globe.

"We are pleased to bring on board a long-term focused, growth investor with years of experience backing high-growth software and technology firms," said Stephanie Fohn, chief executive officer, WhiteHat Security. "For WhiteHat Security, this investment is the right step to fuel our growth as the Web security market expands and is a great validation of our industry-leading work."

"Web security is suddenly top of mind for every CEO in the country -- in reality the threat has been growing for years," commented Brian Mulvey, vice president, IGC. "WhiteHat's leadership team recognized this early on and has been out in front of the market. The company has shown that their vision for Web security is the only scalable way for companies to manage these threats and WhiteHat is ideally positioned to lead the next generation of security companies. We are very enthusiastic to be leading this new round of funding."

In partnering with IGC, WhiteHat Security will initiate further phases of its growth plans. With this investment, WhiteHat Security will address the increased market demand for its solutions by adding nearly sixty percent more staff in 2011 and opening a new regional office, which will include a Threat Research Center, in Houston, Texas. Growing at more than three times the overall market rate, the company sees great opportunity for further adoption of Sentinel, its SaaS-based, website vulnerability management solution, and has aggressive targets for the corporate sector.

"Throughout its history, WhiteHat Security's business has grown rapidly and its current growth rate is much higher than that of the industry in general, an endorsement of the solutions we are delivering to the market," added Fohn.

About WhiteHat Security, Inc.
Founded in 2001 and headquartered in Santa Clara, California, WhiteHat Security provides end-to-end solutions for Web security. The company's cloud website vulnerability management platform and leading security engineers turn verified security intelligence into actionable insights for customers. Through a combination of core products and strategic partnerships, WhiteHat Security provides complete Web security at a scale unmatched in the industry. WhiteHat Sentinel, the company's flagship product line, currently manages more than 4,000 websites -- including sites in the most regulated industries as well as top ecommerce, finance and healthcare companies.

To improve your organization's Web security, sign up for a custom, no-cost 30 day security evaluation by WhiteHat Sentinel SecurityCheck at www.WhiteHatSec.com

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