Contact Information: For More Information: Erin Jones E.S. Jones PR for BitArmor 704.664.2170
BitArmor Completes Series B Financing
New Financing Round to Fuel Continued Development and Go-to-Market Efforts for Virtualization Security and Integration of Data Leakage Prevention Technologies
| Source: BitArmor
PITTSBURGH, PA--(Marketwire - April 20, 2009) - BitArmor™, the leader in data
protection software that helps corporate executives secure sensitive data
wherever it goes, today announced the completion of its Series B financing
round. The round is funded by current investors, including Draper Triangle
Ventures, as well as new investors.
BitArmor will use this investment to take technology to market for
virtualization security and enhanced integration with Data Leakage
Prevention solutions. It will also add resources to bolster its sales
organization to support increasing market demand for BitArmor's DataControl™ software and
Smart Tag™ technology. DataControl uniquely delivers
information-centric protection, which specifically protects data
instead of the devices or networks that process it. It provides broader
protection than traditional "point" solutions, which usually focus on a
single type of device or network, while reducing the number of solutions an
organization needs for data protection.
"Data security continues to rank as a top priority for CIOs across the
board," said Craig Gomulka, a partner with Draper Triangle Ventures.
"BitArmor's information-centric approach to data protection turns the
current concept of security on its head. With the multiplicative effects of
highly distributed data and new infrastructure architectures like
virtualization, it is the only rational data security strategy to accept
going forward."
Throughout 2009, BitArmor will continue aggressive development and delivery
strategies for the following new technology solutions:
-- Data Leakage
Prevention -- BitArmor's data protection software and Smart Tag
technology enhance DLP solutions with granular data protection. After a DLP
solution identifies critical information and classifies it as sensitive,
BitArmor automatically applies the appropriate protection to individual
files without user intervention. The combination allows DLP scans to remain
focused on critical or unprotected data rather than continuously
re-scanning inapplicable documents, which can cause significant network
overhead. BitArmor is partnering with leading DLP vendors to fully
integrate the technology. The integration will allow customers to encrypt
critical information with a single piece of software, rather than deploying
multiple products for individual networks and network ports.
--
Virtualization Security -- BitArmor's information-centric data
protection has the unique ability to persistently protect data in
virtualized computing environments. Because BitArmor's protection remains
with data at all times, that data can be stored securely on virtual
machines or network file shares. BitArmor allows data to move back and
forth between virtual and physical computing environments while retaining
its inherent protection. The technology allows companies to realize the
operational benefits of virtualization without the cost of duplicating
security from physical environments in new virtualized ones.
"BitArmor's truly information-centric approach is the superior solution for
persistent data protection. The enabling technology is completely unique to
the industry," said Patrick McGregor Ph.D., CEO of BitArmor. "This funding
round opens the door to an exciting phase in the growth of our company. We
are eager to explore new strategic opportunities. Also, we are positioned
to deliver new software that addresses a wider range of our customers'
critical data security needs."
BitArmor announced the BitArmor
No-Breach Guarantee™ program in January of this year, which is the
industry's first and only guarantee against data breaches. The program
offers a refund to any customer who experiences a data breach while their
data is protected by BitArmor's software.
About BitArmor (www.bitarmor.com)
BitArmor offers breakthrough data protection software that protects data
wherever it goes. Because it combines persistent file
encryption with full disk
encryption, BitArmor gives customers a single integrated solution for
protecting data at all of its most vulnerable points, like on laptops, on
USB drives, in e-mail attachments. BitArmor software helps customers
precisely control access to sensitive data so they can achieve regulatory
compliance, reduce the liability of publicly disclosing data breaches, and
protect valuable intellectual property that is shared inside and outside of
their enterprise. Leaders in the Healthcare, Retail, Education, and Legal
industries -- among others -- have chosen BitArmor's easy-to-manage,
cost-effective data protection.