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2/25/2007
11:51 AM
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CipherMax Secures $10M

CipherMax announced that the company has received $10 million in new financing

SAN JOSE, Calif. -- CipherMax, Inc. (formerly MaXXan Systems), the technology leader of enterprise-class storage security solutions, today announced that the company has received $10 million in new financing and will focus on delivering storage security solutions that meet enterprise requirements. U.S. Venture Partners, Venrock Associates and Scale Venture Partners (formerly BA Venture Partners), co-led this round of funding. CipherMax will use the investment to further enhance the company’s CM line of storage security products and expand its sales and marketing efforts.

“We are pleased to announce the launch of CipherMax and the completion of the funding,” said Ray Kao, chairman and CEO of CipherMax. “The convergence of storage, security and networking has created the need for a storage security solution that can be deployed within SANs. Our domain expertise in storage networking has given us unique advantages in developing a unified storage security solution that is scalable, reliable, cost effective and easy to deploy for enterprise customers. This round of funding will enable us to expand our market share and continue to deliver the leading storage security solution.”

MaXXan Systems Inc.

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