Vontu Inc., the leader in Data Loss Prevention solutions, today announced that it has completed its Series C round of funding, a $10 million round led by two new investors: GM Capital Partners I, L.P. and First Plaza Group Trust. All previous investors, including Benchmark Capital, Venrock Associates and U.S. Venture Partners participated in the round. To date, Vontu has raised $25 million in funding.
The funds will be used for global expansion of its sales, marketing and services capabilities and extension of Vontu's market-leading data loss prevention solutions. This new round of funding demonstrates continued investor confidence in the Data Loss Prevention market and in Vontu's vision of protecting corporate, classified, and consumer data from the Insider Threat. Vontu helps global 1000 companies and government agencies reduce risk, protect brand reputation and demonstrate regulatory compliance.
"The rise of identity theft and the billions of dollars it is costing businesses is just one example of how difficult it can be to protect information in our connected world today," said Charles Froland, Managing Director of General Motors Investment Management Corporation's Private Equity Group, which with an affiliate advised the two new investors on the Vontu investment. "Vontu is a leader in this market with the strength of its product capabilities and list of impressive and extremely satisfied blue-chip customers."
"The addition of these new investors to our group of valued investors is a significant validation of our market leadership," said Joseph Ansanelli, CEO of Vontu. "This additional funding enables us to extend our leadership through increased investment in our team and unique solutions in Data Loss Prevention."
With confidential customer data and intellectual property only a keystroke away from dissemination via the Internet, every organization today is at risk of data loss. Whether data security policies are violated inadvertently or maliciously, the results expose the company to embarrassment, lost business, costly lawsuits, and regulatory fines. Vontu's Data Loss Prevention solution helps companies avoid these costs by proactively monitoring and stopping confidential information -- including customer data and intellectual property -- from being sent outside the corporate network via email or the Internet.
"Data leaks can expose enterprises of all types -- not just government agencies -- to serious regulatory, public-relations and financial risks," said Rich Mogull, Research Director, Information Security and Risk Practice, Gartner Research. "Gartner estimates that 80 percent to 90 percent of data exposure result from established businesses processes -- such as insecure File Transfer Protocol (FTP) exchanges -- or employee error."
A team of O'Melveny & Myers attorneys led by David Makarechian represented Vontu in this financing.
About Vontu, Inc.
Vontu is the industry's first Data Loss Prevention solution that stops confidential information, including customer data and intellectual property, from being sent outside the corporate and government network. Vontu solutions help customers reduce their financial risk, including remediation costs and legal exposure, protect brand equity and customer loyalty, and ensure compliance with internal policies and government regulations. Vontu customers include the Fortune 1000 in financial services, manufacturing, retail, media, healthcare and telecommunications as well as Federal, State and Local Governments. More information about Vontu can be found at www.vontu.com.
About General Motors Investment Management Corporation
General Motors Investment Management Corporation (GMIMCo) is an indirect wholly owned subsidiary of General Motors Corporation. Together with affiliates, GMIMCo has the responsibility for managing approximately $160 billion in pension, 401(k) plan and other assets for the GM employee benefits trusts and other clients. (http://www.gmam.com/ )