CYPHORT Raises $7M Series-A Round to Accelerate Product Delivery and Market Expansion
Matrix Capital Leads New Round with Participation from Returning Investors Foundation Capital
San Jose, CA, July 23, 2012 – Cyphort™, Inc., an innovative cyber security start-up, today announced the completion of its series-A round led by new investor Matrix Partners with participation from existing investors Foundation Capital. In addition, Andrew Verhalen, general partner of Matrix Partners, will join Cyphort's board of directors. With its new financing, the company can now accelerate delivery and market expansion of its game changing cyber-security platform; the world's most secure network access and data protection system for enterprises and government agencies.
"We are excited to have Matrix Partners join our investor team and welcome Andrew to our board," said Cyphort CEO David Tripier. "This financing will enable us to expand our leadership position in the high growth advanced persistent threats (APTs) protection marketplace. Enterprises are under constant attack from malicious software, compromising the security of personal information and exposing the company, its employees, and its customers to unprecedented levels of fraudulent losses. Businesses today increasingly demand Cyphort's unique solutions to halt the growing number of these sophisticated threats," Tripier continued.
"New and consistently more sophisticated cyber attacks continue to evolve leaving companies inadequately protected by their current anti-virus and intrusion protection solutions," said Andrew Verhalen of Matrix Partners. "Relying solely on signature or reputation-based security tools leaves enterprises and government agencies vulnerable to malicious activity and data theft. Cyphort's game-changing technology will soon become a minimum requirement in not too distant future security architectures."
About Matrix Partners
Matrix Partners is committed to building long-term relationships with outstanding entrepreneurs and helping them build significant, industry-leading companies. Since its inception in 1977, Matrix Partners has had the privilege to partner with hundreds of innovators. We have been fortunate to play an active role in the development of many successful businesses, 50 of which went on to initial public offerings, and 75 of which have gone on to profitable M&A events. The firm consistently ranks in the top five venture firms in terms of returns to its investors. Matrix Partners operates in the United States, India, and China across multiple sectors and stages. For more information, please visit: www.matrixpartners.com.
About Cyphort, Inc.
Cyphort develops cloud services, software, and appliance-based solutions to thwart and protect enterprises and government agencies against the newest breed of sophisticated cyber threats—advanced persistent threats (APTs). Today's well-funded organizations and sophisticated attackers perform persistent malware attacks that by-pass current signature-based security solutions (e.g., firewalls, intrusion detection systems/intrusion prevention systems (IDSs/IPSs), and anti-virus software).