Contact Information: Media Contact: Jan Wiedrick-Kozlowski Activa PR for RedSeal 585.392.7878 jan@activapr.com
Top Venture Capital Firms in Security Space Invest $12 Million in RedSeal Systems
| Source: RedSeal Systems, Inc.
SAN MATEO, CA--(Marketwire - October 21, 2009) - RedSeal Systems, Inc. (www.redseal.net), the
leading vendor of security posture management software, today announced
that the security industry's foremost venture capital firms have backed
RedSeal with a $12 million investment. In addition, security executive
Mark Ashida, managing director at OVP Venture Partners and former general
manager of enterprise networking and authentication for Microsoft, has
joined RedSeal's board of directors. These moves represent a strong
endorsement of RedSeal's innovative solutions by the security financial
community.
RedSeal develops software that automatically, comprehensively and
continuously assesses the cybersecurity posture of an organization,
identifying weaknesses before they can be exploited. The vast majority of
data breaches experienced today, including those at Heartland Systems and
TJX, are caused by relatively simple configuration errors that lurk
unnoticed within an organization's IT infrastructure until they are
discovered by a hacker. These attacks can be stopped if the oversights are
discovered in time, but today's security infrastructures are far too
complex and rapidly changing for manual reviews to be effective. RedSeal
pinpoints configuration oversights and vulnerabilities that create risk,
ensuring that the organization's existing investment in firewalls, routers,
patch management and security personnel is effectively protecting critical
information assets.
"RedSeal addresses perhaps the most fundamental security issue facing
corporations and government agencies today," said Mark Ashida. "Cyber
defenses are enormously intricate, and the smallest hole could allow a
hacker to defeat them. Using RedSeal, CISOs, CIOs and CEOs can be confident
that they are protecting their organizations from the nearly constant cyber
attacks occurring today."
The security industry's leading venture capital firms funded the $12
million investment in RedSeal. The round was led by OVP Venture Partners,
the most experienced venture capital firm in the Northwest. OVP's prior
security investments include Foundstone (acquired by McAfee), Watchguard
Technologies and Avenda Systems. OVP was joined by existing investors
Venrock, Jafco Ventures, Sutter Hill Ventures and Leapfrog Ventures. The
total investment by these firms in RedSeal's advanced technology now
exceeds $43 million.
Mark Ashida brings deep expertise in the IT security market to RedSeal's
board of directors. Until 2007, he led Microsoft's $450 million networking
infrastructure and authentication business. He previously served as Chief
Operating Officer of Intertrust, the leader in secure distribution
technology for digital goods. Before joining Intertrust, Mark was a General
Manager at Intel Architecture Labs.
"Protecting critical business assets from hackers is complex -- not
impossible," said Tom Arthur, CEO of RedSeal Systems. "With RedSeal,
businesses can dramatically improve their security without spending an
additional dime on security devices. We're pleased that security leaders of
the caliber of OVP and Mark Ashida have recognized the power and importance
of this solution."
About RedSeal Systems, Inc.
RedSeal Systems develops security posture management software that enables
organizations to assess and strengthen their cyber-defenses. Unlike systems
that detect attacks once they occur, RedSeal identifies holes in the
security infrastructure that could be exploited -- before they are
discovered by hackers. RedSeal software analyzes and simplifies the
complex interaction of firewalls, routers, load balancers and hosts,
delivering
in-depth understanding of overall security posture, continuous compliance
with regulations such as PCI, FISMA, and SOX, and actionable steps for risk
remediation. For more information, visit RedSeal at www.redseal.net.