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
|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 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.
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required.
In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, will draw together recent research and lessons learned from emerging and established ...
Oct. 24, 2016 09:45 PM EDT Reads: 1,354
November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Penta Security is a leading vendor for data security solutions, including its encryption solution, D’Amo. By using FPE technology, D’Amo allows for the implementation of encryption technology to sensitive data fields without modification to schema in the database environment. With businesses having their data become increasingly more complicated in their mission-critical applications (such as ERP, CRM, HRM), continued ...
Oct. 24, 2016 08:45 PM EDT Reads: 1,024
SYS-CON Events announced today that Enzu will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to focus on the core of their online busine...
Oct. 24, 2016 08:30 PM EDT Reads: 1,323
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data.
In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Oct. 24, 2016 08:15 PM EDT Reads: 2,582
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.
Oct. 24, 2016 07:30 PM EDT Reads: 3,196
Established in 1998, Calsoft is a leading software product engineering Services Company specializing in Storage, Networking, Virtualization and Cloud business verticals. Calsoft provides End-to-End Product Development, Quality Assurance Sustenance, Solution Engineering and Professional Services expertise to assist customers in achieving their product development and business goals. The company's deep domain knowledge of Storage, Virtualization, Networking and Cloud verticals helps in delivering ...
Oct. 24, 2016 07:15 PM EDT Reads: 1,047
SYS-CON Events announced today that Cloudbric, a leading website security provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Cloudbric is an elite full service website protection solution specifically designed for IT novices, entrepreneurs, and small and medium businesses. First launched in 2015, Cloudbric is based on the enterprise level Web Application Firewall by Penta Security Sys...
Oct. 24, 2016 07:15 PM EDT Reads: 1,162
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Oct. 24, 2016 06:15 PM EDT Reads: 4,750
In the next five to ten years, millions, if not billions of things will become smarter. This smartness goes beyond connected things in our homes like the fridge, thermostat and fancy lighting, and into heavily regulated industries including aerospace, pharmaceutical/medical devices and energy. “Smartness” will embed itself within individual products that are part of our daily lives. We will engage with smart products - learning from them, informing them, and communicating with them. Smart produc...
Oct. 24, 2016 05:45 PM EDT Reads: 1,498
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions.
In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
Oct. 24, 2016 05:00 PM EDT Reads: 3,901
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Oct. 24, 2016 05:00 PM EDT Reads: 3,633
SYS-CON Events announced today that Coalfire will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Coalfire is the trusted leader in cybersecurity risk management and compliance services. Coalfire integrates advisory and technical assessments and recommendations to the corporate directors, executives, boards, and IT organizations for global brands and organizations in the technology, cloud, health...
Oct. 24, 2016 04:45 PM EDT Reads: 1,568
In his session at 19th Cloud Expo, Claude Remillard, Principal Program Manager in Developer Division at Microsoft, will contrast how his team used config as code and immutable patterns for continuous delivery of microservices and apps to the cloud. He will show the immutable patterns helps developers do away with most of the complexity of config as code-enabling scenarios such as rollback, zero downtime upgrades with far greater simplicity. He will also have live demos of building immutable pipe...
Oct. 24, 2016 04:30 PM EDT Reads: 1,591
SYS-CON Events announced today that Transparent Cloud Computing (T-Cloud) Consortium will exhibit at the 19th International Cloud Expo®, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
The Transparent Cloud Computing Consortium (T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data proces...
Oct. 24, 2016 04:30 PM EDT Reads: 1,367
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
Oct. 24, 2016 04:15 PM EDT Reads: 2,781