Company has received $6.25M in combined capital
September 29, 2010
3 Min Read
San Francisco, CA September 28, 2010 SenSage, Inc., a leading provider of Security Information and Event Management (SIEM) systems, today announced it has received $6.25M in combined capital to accelerate its future growth plans and further expand its base of large enterprise and government agency customers. $3.5M of this cash injection is equity financing from SenSages current investors: Sierra Ventures, Canaan Partners, FTV Capital and Mitsui Ventures. The remaining $2.75M is debt financing being provided by MMV Financial, one of North America's pre-eminent specialty finance firms.
SenSage is pleased to obtain this additional financing to continue our fast-paced growth and build new enhancements into our already proven Security Intelligence solutions, said Joe Gottlieb, CEO of SenSage. In a market that is very competitive, numerous large enterprises and government agencies across the globe have adopted our unified SIEM and log management solutions because we can provide very sophisticated analysis on large data volumes, a combination that none of our competitors can offer. This new capital will allow us to stay at the forefront of providing the industrys most cutting-edge security monitoring technologies.
Hundreds of organizations around the world rely upon SenSage Security Intelligence Solutions for more holistic IT oversight, real-time alerting and investigation, incident response and compliance reporting. Combining a patented event data warehouse platform and interactive analytics environment, SenSage Security Intelligence solutions are more scalable, flexible and affordable than traditional SIEM, log management and data warehouse point products. SenSage solutions are used for real-time monitoring in security operations centers, historical trending by security planning analysts, exception reporting and follow-up by compliance officers, and detailed fact gathering by forensic investigators.
SenSage is a proven leader in the SIEM and log management market and has an impressive base of customers and a strong senior management team that is driving the companys continued success, said Steven Williams, Managing Director at Sierra Ventures and SenSage Board member. This strategic funding is a critical component of SenSages future growth plans and will fuel the companys momentum in the years to come.
We are delighted to join the great investor group already supporting SenSage, said Bob Curley, SVP and Managing director, MMV Financial. In a time when there is such sensitivity to threat management and protecting sensitive data, we believe SenSage offers a very efficient methodology to consolidate and manage both real time and historical security event data. We have strong faith in the SenSage management team and are excited to play a role in their future success.
SenSages last funding round of $15M occurred in June 2008.
SenSage', Inc. delivers unified Security Information and Event Management (SIEM) and log management systems that are open to all event data types, scale to petabytes, minimize storage costs and perform sophisticated data analysis. Hundreds of customers worldwide leverage patented Security Intelligence solutions from SenSage to identify, understand and counteract cyber-threats, fraud and compliance violations. SenSage partners include Cerner, Cisco, EMC, HP, McAfee and SAP. For more information, visit www.sensage.com or follow us on Twitter: @SenSage.
About MMV Financial:
MMV Financial is a specialty finance company that provides creative debt solutions directly to technology and life sciences companies across North America. MMV is backed by top U.S. and Canadian private equity firms and financial institutions including CCP Equity Partners, Caisse de dpt et placement du Qubec, Fonds de Solidarit des Travailleurs du Qubec, HSBC Bank Canada, ROI Capital and Wells Fargo Company. For more information, please visit www.mmvf.com.
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