Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Risk

4/28/2006
07:45 AM
50%
50%

NeoAccel Lands $4M

NeoAccel announced its Series A3 funding round of approximately $4 million led by Baring Private Equity Partners' India Fund

SAN JOSE, Calif. -- NeoAccel, a pioneering innovator of next-generation Internet security solutions, announced its Series A3 funding round of approximately $4 million led by Baring Private Equity Partners' India Fund (ING's former venture arm) and existing investors.

At next week's Interop Las Vegas 2006, NeoAccel will introduce the next generation of its flagship product, SSL VPN-Plus Enterprise Edition Version 2.0.

NeoAccel will use this latest investment to accelerate sales and marketing to become the new leader in the $3.2 billion market for Virtual Private Networks (VPNs). In realizing its goal to deliver the world's fastest VPN, NeoAccel's SSL VPN-Plus is at the forefront of performance compared with other SSL VPNs and several IPSec VPNs.

With its Series A round complete, NeoAccel will invest in sales and marketing to accelerate broad market acceptance in order to become the new leader in the rapidly growing market for Virtual Private Networks (VPN). The VPN segment has expanded to include a new class of SSL VPNs that provide secure browser-based access to all enterprise applications.

NeoAccel's low-latency, ultra-fast SSL VPN-Plus is at the forefront of the rapidly growing SSL VPN market due to the enterprise-class performance advantages derived from the company's patent-pending Intelligent Connection Acceleration ArchitectureT (ICAAT) and for the exceptional business value of a low/no-administration and highly scalable alternative to conventional IPSec VPNS. To date, NeoAccel has achieved significant results including numerous customer deployments and a variety of significant OEM and channel alliances in the U.S. and internationally. The company is operating with

a very low burn rate and expects to become profitable during the course of its next fiscal year and close its mezzanine funding round soon thereafter.

NeoAccel has progressively enrolled investment backing for its patent-pending secure access and acceleration technologies to help realize their disruptive potential in becoming the best mover in advancing SSL VPNs as IPSec replacements. The Series A3 investment follows earlier Series A2 investments from NTT Leasing and technology angel investors such as Prabhu Goel (Verilog inventor), Sabeer Bhatia (Hotmail.com founder) and a Series A1 investment from NextStar Venture, the investment company of Michel Susai, CEO of NeoAccel and founder and former Chairman and CEO of NetScaler (now CitrixR NetScaler).

"Our investment will enable NeoAccel to accelerate broad market adoption

of its SSL VPN-Plus as the only network security software platform to overcome the fundamental technology flaw in conventional SSL VPNs that hampers widespread enterprise adoption," said Subbu Subramaniam, Investment Partner for Baring Private Equity Partners India (BPEP India). "Leveraging the breakthrough innovations and experienced leadership of Michel Susai, NeoAccel has great promise to fulfill the promise of SSL VPNs to unseat IPSec VPNs as the dominant way for securing remote access to enterprise applications networks."

NeoAccel Inc.

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
News
Inside the Ransomware Campaigns Targeting Exchange Servers
Kelly Sheridan, Staff Editor, Dark Reading,  4/2/2021
Commentary
Beyond MITRE ATT&CK: The Case for a New Cyber Kill Chain
Rik Turner, Principal Analyst, Infrastructure Solutions, Omdia,  3/30/2021
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
2021 Top Enterprise IT Trends
We've identified the key trends that are poised to impact the IT landscape in 2021. Find out why they're important and how they will affect you today!
Flash Poll
How Enterprises are Developing Secure Applications
How Enterprises are Developing Secure Applications
Recent breaches of third-party apps are driving many organizations to think harder about the security of their off-the-shelf software as they continue to move left in secure software development practices.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2021-3493
PUBLISHED: 2021-04-17
The overlayfs implementation in the linux kernel did not properly validate with respect to user namespaces the setting of file capabilities on files in an underlying file system. Due to the combination of unprivileged user namespaces along with a patch carried in the Ubuntu kernel to allow unprivile...
CVE-2021-3492
PUBLISHED: 2021-04-17
Shiftfs, an out-of-tree stacking file system included in Ubuntu Linux kernels, did not properly handle faults occurring during copy_from_user() correctly. These could lead to either a double-free situation or memory not being freed at all. An attacker could use this to cause a denial of service (ker...
CVE-2020-2509
PUBLISHED: 2021-04-17
A command injection vulnerability has been reported to affect QTS and QuTS hero. If exploited, this vulnerability allows attackers to execute arbitrary commands in a compromised application. We have already fixed this vulnerability in the following versions: QTS 4.5.2.1566 Build 20210202 and later Q...
CVE-2020-36195
PUBLISHED: 2021-04-17
An SQL injection vulnerability has been reported to affect QNAP NAS running Multimedia Console or the Media Streaming add-on. If exploited, the vulnerability allows remote attackers to obtain application information. QNAP has already fixed this vulnerability in the following versions of Multimedia C...
CVE-2021-29445
PUBLISHED: 2021-04-16
jose-node-esm-runtime is an npm package which provides a number of cryptographic functions. In versions prior to 3.11.4 the AES_CBC_HMAC_SHA2 Algorithm (A128CBC-HS256, A192CBC-HS384, A256CBC-HS512) decryption would always execute both HMAC tag verification and CBC decryption, if either failed `JWEDe...