|By Marketwired .||
|July 22, 2014 07:30 AM EDT||
SAN DIEGO, CA--(Marketwired - July 22, 2014) - EdgeWave® (www.EdgeWave.com), a San Diego-based cybersecurity firm, today announced it has closed $6 million in Series A equity funding from TVC Capital, a San Diego-based growth equity firm focused on investments in and acquisitions of software companies and software-enabled service firms.
The financing will be used to support accelerating demand for EdgeWave's military-grade enterprise security capabilities that protect companies from the most advanced targeted hacker attacks. EdgeWave EPIC
EdgeWave's security platform is led by retired U.S. Navy Capt. Mike Walls. Walls most recently commanded the Navy's global cybersecurity operations, protecting the Navy's information operations supporting over 400,000 personnel, hundreds of ships and thousands of aircraft around the globe from the world's most sophisticated hacker attacks in real time.
EdgeWave's solutions have been validated by several thousand customers and their millions of end-users, including large multi-hospital regional health care providers, such as Susquehanna Health, financial services providers including insurer Esurance, and live global media operations such as the United States Tennis Association's U.S. Open Tennis Championship.
"EdgeWave's cloud-enabled security solutions are growing at over 100% annually because they provide leading-edge advanced threat protection across all web and email traffic in flexible, maintenance free bundles that produce unmatched ROI for customers," said Jeb Spencer, Managing Partner of TVC Capital. "We look forward to working closely with the EdgeWave team in delivering exciting new products and cloud security solutions that are primed to capture ever-growing demand in the data security space."
According to the 2014 PriceWaterhouse Cooper Global State of Information Security Survey, corporate network security breaches have increased 25% in the past year alone, with an average breach cost of $2 million. Gartner forecasts Internet security spending to grow as high as $86 billion by 2016.
"Organizations are under attack from hackers, and frankly they're losing the war," said Dave Maquera, CEO and President, EdgeWave. "By combining proven US military cyber-defense capabilities and leadership with our advanced cloud-enabled technology, EdgeWave provides a level of security and policy compliance that is not available anywhere outside of the US Department of Defense. Our partnerships with TVC Capital and Square 1 Bank will help power EdgeWave on its mission to provide our much needed capabilities to a rapidly expanding population of companies and organizations that are losing the fight and are unable to comply with security requirements and policies."
Concurrent to the funding, EdgeWave also announced it has secured a $5 million credit facility with Square 1 Bank, providing additional working capital to fund the company's growth.
"EdgeWave is a prime example of the companies we like to see -- solid product and fundamentals, impressive management team and an experienced and committed new equity investor," said Peter Drees, Founder and Managing Director in Square 1 Bank's San Diego office. "The team at EdgeWave has established a trajectory for continued success and future growth."
About EdgeWave, Inc.
EdgeWave is a cybersecurity industry leader delivering innovative, effective and efficient security solutions across the full spectrum of business and government organizations. EdgeWave combines real-time human and artificial intelligence, and a military-grade approach to anticipate, identify and defend against the most sophisticated adversaries and most challenging security threats. EdgeWave received four 2014 Network Product Guide 'Best' Awards for iPrism Web Security and ePrism Email Security. Learn more about how EdgeWave is transforming Cyber Security at www.edgewave.com.
About TVC Capital, LLC
TVC Capital is a San Diego-based growth equity firm focused on investments in and acquisitions of software companies and software-enabled service firms. TVC Capital targets a wide spectrum of software sectors and industry verticals that are poised for growth and consolidation. The TVC team is led by operating executives with more than 60 years of experience growing technology companies into market leaders. For more information, visit www.tvccapital.com.
About Square 1 Bank
Square 1 Bank is a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion. Square 1's expertise, focus and strong capital base provide flexible resources and unmatched support to meet our clients' needs. Square 1 has offices coast-to-coast in Austin, the Bay Area, Boston, Denver, Durham, Los Angeles/Orange County, New York, San Diego, Seattle, Silicon Valley and Washington, DC. For more information, visit www.square1bank.com.
©2014 EdgeWave, Inc. All rights reserved. The EdgeWave, iPrism, and ePrism Logos are trademarks of EdgeWave, Inc. All other trademarks and registered trademarks are hereby acknowledged.
Julia Yuryev/Bridget Nolan
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
Aug. 4, 2015 06:45 PM EDT Reads: 237
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
Aug. 4, 2015 06:45 PM EDT Reads: 220
SYS-CON Events announced today that the "Second Containers & Microservices Expo" will take place November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
Aug. 4, 2015 05:30 PM EDT
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his session at 17th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Partnerships at Com...
Aug. 4, 2015 05:00 PM EDT Reads: 108
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
Aug. 4, 2015 03:00 PM EDT Reads: 573
Scrum Alliance has announced the release of its 2015 State of Scrum Report. Almost 5,000 individuals and companies worldwide participated in this year's survey. Most organizations in the market today are still leading and managing under an Industrial Age model. Not only is the speed of change growing exponentially, Agile and Scrum frameworks are showing companies how to draw on the full talents and capabilities of those doing the work in order to continue innovating for success.
Aug. 4, 2015 02:45 PM EDT
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
Aug. 4, 2015 02:00 PM EDT Reads: 390
Between the compelling mockups and specs produced by your analysts and designers, and the resulting application built by your developers, there is a gulf where projects fail, costs spiral out of control, and applications fall short of requirements. In his session at @DevOpsSummit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, presented a new approach where business and development users collaborate – each using tools appropriate to their goals and expertise – to build mocku...
Aug. 4, 2015 01:30 PM EDT
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
Aug. 4, 2015 01:00 PM EDT Reads: 293
SYS-CON Events announced today that VividCortex, the monitoring solution for the modern data system, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The database is the heart of most applications, but it’s also the part that’s hardest to scale, monitor, and optimize even as it’s growing 50% year over year. VividCortex is the first unified suite of database monitoring tools specifically desi...
Aug. 4, 2015 12:00 PM EDT Reads: 114
Graylog, Inc., has added the capability to collect, centralize and analyze application container logs from within Docker. The Graylog logging driver for Docker addresses the challenges of extracting intelligence from within Docker containers, where most workloads are dynamic and log data is not persisted or stored. Using Graylog, DevOps and IT Ops teams can pinpoint the root cause of problems to deliver new applications faster and minimize downtime.
Aug. 4, 2015 11:45 AM EDT
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, provided some practical insights on what, how and why when implementing "software-defined" in the datacent...
Aug. 4, 2015 11:30 AM EDT Reads: 116
Learn how you can use the CoSN SEND II Decision Tree for Education Technology to make sure that your K–12 technology initiatives create a more engaging learning experience that empowers students, teachers, and administrators alike.
Aug. 4, 2015 09:30 AM EDT Reads: 115
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
Aug. 4, 2015 08:45 AM EDT Reads: 262
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
Aug. 4, 2015 07:00 AM EDT Reads: 227