Reconnex Receives $16 Million in Round C Financing, Total Funding Now $37 Million
Partner in Lead Investor August Capital Joins Board; Company Will Use Capital to Fund Engineering and Sales
MOUNTAIN VIEW, Calif., May 1, 2006—Reconnex, the expert in discovering both known and unknown electronic risks, today announced that it has received $16 million in Round C financing from August Capital and existing investors Norwest Venture Partners, Levensohn Venture Partners, and Outlook Ventures. To date, the company has raised a total of $37 million in funding, including Round C. Vivek Mehra, an August Capital general partner with extensive investment and entrepreneurial experience, has joined the Reconnex board of directors. Reconnex will use this latest round of funding to grow engineering and sales.
“There is a real market need for Reconnex’s solution because of compliance, regulatory, and privacy issues that organizations face,” said Mehra. “Reconnex has a unique technical approach that is much more comprehensive than competing approaches, specifically its ability to monitor, record, and analyze multiple network protocols at gigabit line rates and to do forensic analyses on live and recorded network traffic and data.”
“Demand for Reconnex’s solutions has increased rapidly as organizations begin to understand the true extent of the threat that insiders pose to corporate data,” said John Peters, CEO of Reconnex. “We’ve been successful in every vertical market we’ve entered—including Fortune 1000 companies, government organizations, financial institutions, and healthcare providers—and now we’ll expand our sales force to get more coverage. The new capital will also help Reconnex build out its engineering organization and extend our lead as an innovator and visionary in the market.”
"The insider threat has quickly become the largest security opportunity in the enterprise," said Matt Howard, general partner at Norwest Venture Partners. "With the proliferation of devices, the growing globalization of the enterprise, and the blurring of network boundaries, finding and stopping the untrustworthy insider from disseminating critical corporate information becomes more difficult every day. Reconnex is the only company whose technology can identify and remediate both known and unknown threats to electronic assets. That is a key differentiator for enterprises that want to know with certainty what content is leaving their network."
Electronic Risk Discovery SolutionsReconnex develops electronic risk discovery solutions that enable enterprises to protect themselves against the threat of insiders who deliberately or inadvertently transmit private and proprietary information outside the network. Reconnex’s solutions monitor, capture, correlate, and analyze all outbound and inbound content, regardless of file type, communications channel, or port, in real time at up to gigabyte speed, without any interruption to the business-critical workflow. Users can also perform real-time or after-the-fact analysis of stored data to discover unknown risks to compliance, competitive advantage, critical infrastructure, and corporate governance. For the first time, organizations can receive a complete view of enterprise risk and determine how well corporate security policies are implemented. Reconnex solutions openly integrate with existing enterprise security solutions to more fully protect corporate networks.
About Reconnex
Reconnex is the standard for electronic risk discovery for Fortune 1000 companies, government organizations, financial institutions, and healthcare providers who want to protect their brands, shareholder value, and mission-critical operations from the insider threat. Reconnex offers complete visibility into both known and unknown threats to network and information security; provides intelligent capture, classification, and storage of all outbound and inbound content for risk discovery, correlation, and analysis; and enables open integration with existing enterprise security solutions. Reconnex enables enterprises to know with certainty what content enters and leaves their networks and to quickly capture, identify, and remediate both known and unknown threats to compliance, competitive advantage, corporate governance, and critical infrastructure.
For more information, call Reconnex today at 1-866-940-4590 or visit us on the web at www.reconnex.net.
