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11/16/2011
06:39 PM
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RedSeal Networks Gets $10M In Venture Capital

Capital was provided by RedSeal’s existing institutional venture funds

Santa Clara, CA – Nov. 16, 2011 – Riding a wave of unprecedented demand for its solutions among Fortune 1000 customers, government organizations and large global multinationals, RedSeal Networks announced today that it has secured additional funding to accelerate its worldwide expansion.

Having added some of the most prominent businesses in the world to its customer ranks over the last two quarters alone, along with numerous major government agencies, RedSeal has significantly grown its customer ranks and is experiencing significant increase in demand for its proactive security intelligence solutions from many corners of the globe.

Driven by that rapidly expanding international opportunity and other major catalysts, most notably the recent launch of RedSeal 5 which added a broad set of capabilities around security performance metrics and predictive security infrastructure impact analysis, company executives said they will move quickly to grow the company’s presence in Europe and India, specifically.

To condense the timeframe necessary to support this expansion, RedSeal’s dedicated group of long-term investors have injected an additional $10 million in venture capital into the company, further endorsing global recognition of its solutions’ unique value proposition in addressing universal challenges related to security infrastructure complexity and change.

The capital was provided by RedSeal’s existing institutional venture funds - Venrock, OVP Venture Partners, Sutter Hill Ventures, JAFCO Ventures, and Leapfrog Ventures - all of whom have backed the company since its 2004 inception.

“RedSeal is one of the most strategic and influential providers on the global security market based on its ability to solve the most acute challenges faced by every large enterprise security organization today, complexity and change,” said Ray Rothrock, Chairman and Partner of Venrock. “The constant evolution of security infrastructure makes it nearly impossible for even the best professionals in any organization to maintain the visibility necessary to ensure compliance and critical asset protection, or measure their progress over time.”

In Europe, where RedSeal recently added major clients including online bookmaking giant Betfair, based in the UK, the company plans to significantly increase the size and reach of its sales and channel programs to help address the growing interest in proactive security intelligence among multinational firms.

Realizing another major element of its strategic plan, the company also recently opened its RedSeal India division, centered in Bangalore. RedSeal’s Bangalore office will be its second Center of Excellence for innovative developments and will provide added support for high-profile customers in the region, including massive telecomm provider Tata Communications.

Leading RedSeal’s continued growth in North America have been strong sales across key verticals including financial services and the retail sectors, along with significant demand related to continuous monitoring requirements among U.S. federal government agencies.

The company, which now counts over 180 of the world’s largest organizations among its clients, has also won deals with marquee names in the technology space, including Cisco and McAfee.

“The market’s overwhelming acceptance of proactive security intelligence and the breadth of opportunities that we’re seeing worldwide today clearly demonstrate huge growth potential,” said Parveen Jain, President and Chief Executive at RedSeal. “Our committed investors, like our customers, recognize that RedSeal is poised to take off into a much higher orbit, and they took the opportunity to enable us to move even faster, and distance ourselves from any other approach in the world, by expanding even more aggressively.”

About RedSeal Networks, Inc.

RedSeal Networks enables our customers’ IT security management and staff to continuously understand the security state and regulatory compliance of their network and information systems, recognize the resulting risk to their operations and assets, and identify and drive actions to improve security and reduce risk. Unlike systems that measure the impact of attacks after they occur, RedSeal analyzes the complex interaction of all network security controls, delivering in-depth understanding of security performance, continuous compliance, and actionable steps for risk remediation. For more information on RedSeal products please visit the company’s web site at www.redsealnetworks.com and follow us on Twitter @RedSealNetworks.

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