Welcome!

News Feed Item

EdgeWave Closes $6 Million Series A Equity Funding From TVC Capital

$5 Million Credit Facility With Square 1 Bank Also Secured; Financing Will Drive Continued Expansion in Fast-Growing Cybersecurity Market

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 EPIC2  (Enhanced Precision and Integrated Cyber Capability) thwarts "zero-minute" threats and ensures security policy compliance through a unique combination of cloud-enabled technology and proven national-defense level cybersecurity and human intelligence operations.

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."

EdgeWave EPIC2 provides the advanced threat defense capabilities behind their award-winning EdgeWave ePrism® Email Security™ and EdgeWave iPrism® Web Security™ Internet and data security products. EdgeWave's management team includes a unique blend of experienced business leaders and real-world cyber warfare veterans who are addressing the significant gaps in current network security solutions. The company also has a team of dedicated professionals providing 24/7 monitoring, threat detection and analysis from multiple operation centers. 

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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Tintri VM-aware storage is the simplest for virtualized applications and cloud. Organizations including GE, Toyota, United Healthcare, NASA and 6 of the Fortune 15 have said "No to LUNs." With Tintri they manage only virtual machines, in a fraction of the footprint and at far lower cost than conventional storage. Tintri offers the choice of all-flash or hybrid-flash platform, converged or stand-alone structure and any hypervisor. Rather than obsess with storage, leaders focus on the business app...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Have you ever noticed how some IT people seem to lead successful, rewarding, and satisfying lives and careers, while others struggle? IT author and speaker Don Crawley uncovered the five principles that successful IT people use to build satisfying lives and careers and he shares them in this fast-paced, thought-provoking webinar. You'll learn the importance of striking a balance with technical skills and people skills, challenge your pre-existing ideas about IT customer service, and gain new in...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develop...
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed ...
Column Technologies exhibited at SYS-CON's @DevOpsSummit at Cloud Expo, which took place at the Javits Center in New York City, NY, in June 2016. Established in 1998, Column Technologies is a global technology solutions provider with over 400 employees, headquartered in the United States with offices in Canada, India, and the United Kingdom. Column Technologies provides “Best of Breed” technology solutions that automate the key DevOps principals and help our customers meet today’s DevOps and Dig...
Have you ever noticed how some IT people seem to lead successful, rewarding, and satisfying lives and careers, while others struggle? IT author and speaker Don Crawley uncovered the five principles that successful IT people use to build satisfying lives and careers and he shares them in this fast-paced, thought-provoking webinar. You'll learn the importance of striking a balance with technical skills and people skills, challenge your pre-existing ideas about IT customer service, and gain new in...
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Ayehu provides IT Process Automation & Orchestration solutions for IT and Security professionals to identify and resolve critical incidents and enable rapid containment, eradication, and recovery from cyber security breaches. Ayehu provides customers greater control over IT infrastructure through automation. Ayehu solutions have been deployed by major enterprises worldwide, and currently, support thousands of IT processes across the globe. The company has offices in New York, California, and Isr...
LogMeIn has completed its previously disclosed merger with Citrix Systems, Inc.’s GetGo, Inc. subsidiary, a wholly owned subsidiary consisting of Citrix’s GoTo family of service offerings. The merger officially closed after market hours on January 31, 2017. Effected through a Reverse Morris Trust transaction, the merger brings together two of the preeminent players in cloud connectivity to instantly create one of the world’s top 10 public SaaS companies, and a market leader with the scale, resou...
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Addteq is one of the top 10 Platinum Atlassian Experts who specialize in DevOps, custom and continuous integration, automation, plugin development, and consulting for midsize and global firms. Addteq firmly believes that automation is essential for successful software releases. Addteq centers its products and services around this fundamentally unique approach to delivering complete software release management solutions. With a combination of Addteq's services and our extensive list of partners,...