PALO ALTO, Calif. -- PGP Corporation, a global leader in enterprise data protection, today announced record financial performance and impressive company momentum for the first half of calendar year 2007. The increased adoption of the PGP® Encryption Platform and platform-enabled applications continues to drive the companys success around the world.
PGP Corporation: First Half Update
The company recently celebrated raising $27.3 million in Series C funding. Intel Capital, the venture capital arm of Intel Corporation, and the D. E. Shaw group, a global investment and technology development firm, joined existing investors DCM (formerly known as DCM-Doll Capital Management) and Venrock, providing funds to enable PGP Corporation to accelerate organic and inorganic technology development and further fund its channel expansion. The funding also will enable the company to extend key management functionality in the PGP Encryption Platform to transparently manage third-party devices and software from PGP Corporation, ISVs, and customers in-house applications.
Expanding customer base. Customer adoption of PGP® solutions continues to grow. PGP Corporation closed its second quarter, ending June 30, 2007, with the largest deal in the companys history, securing a several million dollar transaction from an existing customer, a Fortune® 500 company. Another Fortune 500 company extended its use of PGP technology by signing a six-figure perpetual license to deploy the PGP Encryption Platform and PGP® Desktop for automatic email and file encryption for desktops and laptops. This customers vision is to deploy PGP solutions to encrypt all data and email for the companys 100,000 employees worldwide.
PGP Corporation also secured a new customer in Europe, Bertelsmann AG, the worlds most international media company, which sought a single vendor to cover its diverse encryption needs. Bertelsmann is actively deploying a comprehensive PGP solution, which includes PGP® NetShare for network file and folder encryption for collaborative teams, PGP® Whole Disk Encryption for encryption of all files on desktops, laptops, and removable media, and PGP® Support Package for BlackBerry®, which extends PGP email security to BlackBerry devices.
2007 has been a great year for PGP Corporation, and the best part is, were only halfway home. We continue to deliver fantastic results across all geographies, and Im proud of our consistent execution. Our investments in the business are paying off, said Phillip Dunkelberger, president and CEO of PGP Corporation. The robust customer traction we continue to experience has made us a leader in defending data for global brands. PGP Corporation is the recognized leader in email encryption, and with our broad array of applications and best-in-class key management capabilities, we look to expand our leadership.