Series B Round Includes Follow-on Participation from Benchmark Capital; Funding Will Be Used to Fuel Continued Product and Geographic Expansion
LONDON and SAN MATEO, Calif. - Feb. 20, 2007 - ScanSafe, the pioneer and leading provider of Web Security-as-a-Service, today announced that it has secured $15 million in Series B financing led by Scale Venture Partners, formerly BA Venture Partners (BAVP).
ScanSafe also announced that Rory O'Driscoll, managing director with Scale Venture Partners, has joined the board. Benchmark Capital, an early investor in ScanSafe, also participated in the Series B round. The new financing will be used to speed up ScanSafe's global expansion as well as accelerate the company's research and development efforts.
"This funding will help ScanSafe accelerate its dominance of the Web Security-as-a-Service market, building out on our vision of keeping security simple. We currently process more than 6 billion Web requests and block more than 12 million Web threats each month for customers around the world and recently introduced SearchAhead, the industry's first early warning system for safe Web searches," said Roy Tuvey, president, ScanSafe. "This new funding will enable us to continue to build on this track record of industry firsts, deliver innovative Web security technology, support our partners and continue our rapid growth. We look forward to Rory's involvement. He has a great deal of expertise with the Software-as-a-Service business model and experience in the development of rapid growth companies."
ScanSafe's portfolio of award winning security services deliver complete security and control over Web and IM by scanning traffic in real-time and blocking malware and unwanted content before it reaches the corporate network. As a fully managed service, ScanSafe's solutions require no hardware, no upfront capital costs and no maintenance and as a result, customers typically experience a 30 to 40 percent saving over hardware solutions.
"We have invested in Software-as-a-Service companies since the late 90s, and believe ScanSafe has a smart approach and unique technology to take advantage of a substantial market," said Rory O'Driscoll, managing director, Scale Venture Partners. "ScanSafe has demonstrated that it is the leader in its category, developing strong OEM and channel partnerships, delivering enterprise class Web security solutions to very large corporate customers worldwide, and achieving an outstanding customer satisfaction rating."
About Scale Venture Partners
Scale Venture Partners employs a thesis-based strategy to identify innovative development-stage technology and healthcare investments in emerging markets. Based in Foster City, California, the Scale team collectively offers decades of technology and venture industry experience to development-stage companies in hardware, software, healthcare and medical devices. Representative portfolio companies include Alimera, Frontbridge (acquired by Microsoft), Glu Mobile, Good Technology (acquired by Motorola), Monolithic Power Systems (publicly traded on NASDAQ), Omniture (publicly traded on NASDAQ), Orexigen, Placeware (acquired by Microsoft), ScanSafe, Seattle Genetics (publicly traded on NASDAQ), Somaxon (publicly traded on NASDAQ), Wayport and Xceive. For more information, visit http://www.scalevp.com.
About ScanSafe
ScanSafe is the largest global provider of Web Security-as-a-Service, ensuring a safe and productive Internet environment for businesses. ScanSafe solutions keep viruses and spyware off corporate networks and allow businesses to control and secure the use of the Web and instant messaging. As a fully managed service, ScanSafe's solutions require no hardware, upfront capital costs or maintenance and provide unparalleled real-time threat protection. Powered by its proactive, multilayered Outbreak IntelligenceTM threat detection technology, ScanSafe scans more than 6 billion Web requests and blocks 12 million threats each month for customers in over 30 countries.
Since pioneering the market for Web Security-as-a-Service, ScanSafe continues to deliver innovative Web security solutions, including the introduction of the world's first early warning system which scans and classifies search engine results based on the presence of malware and unwanted content. In addition to being part of its corporate Web security service, the safe search technology is available to consumers as a free service at www.Scandoo.com.
With offices in London and San Mateo, California, ScanSafe is privately owned. The company received the Info Security Global Product Excellence Award for Best Managed Security Service and was named one of Red Herring's Top 100 Technology companies. For more information, visit www.scansafe.com.
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