SAN FRANCISCO--- GuardianEdge Closes $13.5 Million in Financing
GuardianEdge, the leading provider of endpoint data protection for the enterprise, today announced completion of a $10 million Series "B" preferred stock financing along with $3.5 million in venture debt financing, bringing the company's total financing to date to $20 million. The equity financing was led by Cargill Ventures, an early stage technology investment group, with participation from Thomvest Ventures, Inc., Altos Ventures and Cardinal Venture Capital. The funding comes on the heels of the most successful year in the company's history. Combined with revenue derived from increased customer growth, it will be used to continue the expansion of GuardianEdge's sales and marketing efforts and to further develop its enterprise-grade endpoint data protection solution, the GuardianEdge Data Protection Platform.
"Endpoint data protection is a vital component of an enterprise's IT security strategy, providing protection in the event of a lost or stolen mobile device. GuardianEdge's performance and traction over the past few years, illustrated by the company's record 2006 revenues and customer bookings, further validates the importance of technologies such as encryption in the enterprise," said Monica Morse, managing director at Cargill Ventures. "GuardianEdge's high growth potential and outstanding management team, combined with the technology behind the GuardianEdge Data Protection Platform, place the company in a position to continue market leadership and reach new heights over the coming years."
Organizations increasingly recognize the need to reduce or eliminate the risks associated with security breaches by securing endpoint data at rest on hard drives, moving across ports, portable storage devices and other mobile pathways, or at end-of-life on unneeded Pcs. GuardianEdge solutions are designed to provide an integrated approach to implementing endpoint data protection measures for organizations of all sizes. Private sector enterprises ranging from multi-national companies such as Deutsche Bank and Northrop Grumman Corporation, to regional firms like Clark, Schaefer, Hackett & Co as well as public sector organizations including the U.S. Department of Veterans Affairs have standardized on the GuardianEdge Data Protection Platform. The Data Protection Platform is the first enterprise-class solution for managing the protection of information on endpoint devices. It consists of the GuardianEdge Data Protection Framework, which provides the required security and management services on a scalable client server infrastructure, and three core data protection applications: GuardianEdge Hard Disk Encryption, GuardianEdge Removable Storage Encryption and GuardianEdge Device Control.
"GuardianEdge has a history of innovation in endpoint data protection, dating back to the company's introduction of the first enterprise grade hard disk encryption solution more than 10 years ago," said Alan Fudge, president and CEO at GuardianEdge. "Over the last decade, we have built our corporate reputation on the delivery of cutting edge endpoint data protection solutions. Our 2006 momentum, combined with Cargill, Thomvest, Altos Ventures and Cardinal Venture Capital's investments, is further proof of the strong enterprise adoption and growth in this area."
In connection with the funding, Monica Morse, Managing Director at Cargill Ventures, has joined GuardianEdge's board of directors.
About GuardianEdge
GuardianEdge is the leading provider in endpoint data protection for the enterprise. More than two million users around the world depend on GuardianEdge solutions to safeguard sensitive and proprietary information, to ensure compliance with regulations for maintaining consumer privacy and to enable secure enterprise mobility. The company's endpoint data protection solutions have been deployed by leading organizations including Lockheed Martin Corporation, Deutsche Bank AG and Humana Inc., as well as numerous agencies in the U.S. departments of Veteran Affairs, Defense, State and Education. For additional information, please visit: http://www.guardianedge.com/.