CipherOptics Announces Completion of $21M Financing
--Funding will help accelerate technology development and expansion into new markets--
- CipherOptics, the leader in scalable network encryption, announced today that it has completed a $21 million financing in an over-subscribed round. Led by existing investor Adams Capital Management, the round included new investors Blue Heron Capital, Intuitive Venture Partners, Next Stage Capital, Kestrel Asset Management and other individuals joining Origin Partners and Axiom Venture Partners as investors. CipherOptics also announced the addition of Mike Kane from Kestrel Asset Management and network industry veteran John Gerdelman to the CipherOptics' Board of Directors.
"We were very pleased with the strong interest we received from the investment community during this round." said Thomas Gill, CEO of CipherOptics. "This additional financing, along with strong organic growth, will enable us to accelerate our expansion into new markets through increased investments in sales and marketing, product enhancements and the development of new technologies for virtual infrastructures."
CipherOptics' network security solutions allow organizations to secure any network without the complexity and performance compromises of traditional network security. Organizations in the Financial Services, Utility, Government, Healthcare, and Service Provider markets continue to recognize the need for security solutions that protect data without impacting business and communication applications. CipherOptics' solutions allow these organizations to significantly reduce their security risks and achieve compliance with data privacy regulations without downgrading the performance of their applications or network infrastructure.
"CipherOptics has a clear leadership position in protecting high performance networks," said John Gerdelman, CipherOptics' newly appointed board member. "With organizations from all sectors facing increased pressure to protect data on both legacy and advanced infrastructures, CipherOptics has the right combination of leadership and technology to take advantage of the strong growth forecasted for data security."
"As evidenced by the interest in this financing, we are very pleased with the progress made by the company last year, and its direction going forward," said Board Member Martin Neath, General Partner for Adams Capital Management. "We are also happy to welcome our newest board members, Mike Kane and John Gerdelman, and are looking forward to the experience and insight they bring to the CipherOptics board."
CipherOptics is the leader in multi-layer encryption solutions for high performance networks. The Company provides advanced IPsec VPN and encryption solutions for wide area networks, and enables secure connectivity to private and public clouds. CipherOptics helps organizations improve security, decrease risk, and reduce the cost of compliance while enabling high performance and secure connectivity to critical infrastructures.