| January 13, 2004 | Press Release |
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| Sana Security Secures $10 Million in Additional Financing |
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| Portfolio Company: Sana Security |
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SAN MATEO, Calif.–January 13, 2004–Sana Security Inc., a leader in host-based intrusion prevention software, today announced it has secured $10 million in additional funding that will be used for continued focus on product development and marketing and to expand sales and channel support, with particular emphasis on the Fortune 1000, civilian government and defense sectors.
The round was led by new investor Bay Partners, with participation by prior investors El Dorado Ventures, Sevin Rosen Funds and The Entrepreneur's Fund. Bob Williams, General Partner at Bay Partners, also joins as an observer to Sana's board of directors. This latest round brings total investment in Sana Security to more than $22 million.
"The investment by Bay Partners and the continued commitments from Sevin Rosen Funds and El Dorado Ventures reflect recognition of the aggressive milestones we achieved in 2003," said John Zicker, chairman and CEO of Sana Security. "In 12 short months, Sana Security has grown from an emerging software startup to one of the elite providers of host-based intrusion prevention solutions with a customer base of more than 25 organizations in defense, federal government, financial services and Fortune 1000 corporations. We're fortunate to have such dedicated investors who recognize and believe in the company's achievements and our growth potential."
"Bay Partners is pleased to join the Sana Security team in providing the resources it needs to grow its leadership position in the intrusion prevention software market," said Bob Williams, general partner, Bay Partners. "Bay Partners agrees with the strong vote of confidence from Sana's other investors for the excellent progress the company has made towards building a successful business in this growing security software market."
Sana Successfully Launches Flagship Intrusion prevention Product
Among the company's most significant achievements in 2003, Sana Security successfully took its Primary Response software from laboratory prototype to commercial-grade security solution, launching the product in March. Primary Response is an advanced host-based security solution that protects standard and customized enterprise server applications from malicious code, worms and attacks. Primary Response is the only host-based intrusion prevention solution that employs principles of the human immune system to secure server applications—and the critical information associated with them—more effectively and with less human intervention than ever before possible.
In December 2003, Sana Security shipped version 2.1 of Primary Response, marking the first commercially available host-based intrusion prevention software that simultaneously supports Linux, Unix, Microsoft Exchange Server and Windows 2003.
Milestones Demonstrate Need for Sana Products in Key Markets
In addition to recording better-than-expected sales revenues, Sana Security also achieved a number of key milestones in 2003:
Signed more than 25 customers including the U.S. Air Force Material Command, Los Alamos National Labs, Smith and Hawken, News Corp and RSA Security.
Strengthened sales and marketing teams with appointment of industry veterans Steven R. Erbst as senior vice president of sales and business development, and the appointment of four Regional Managers chartered with building local channel and systems engineering teams in New York, Washington D.C., Chicago and San Francisco.
Signed more than 20 leading resellers to its Primary Response Certified Partners Program, including AT&T Government Solutions, Cadre Network Security, FishNet, Tangible Software, and True North Solutions, among others.
Named one of the "Top 10 Start-Ups to Watch in 2003" by leading newsweekly magazine Network World.
Primary Response was named a "Hot Pick" by Information Security magazine.
Founder and Chief Scientist Steven Hofmeyr, PhD named one of the world's "100 Top Young Innovators" of 2003 by the prestigious Technology Review, MIT's Magazine of Innovation.
Engaged in complimentary partnerships that establish product interoperability and co-marketing with industry-leading IT solutions vendors Guardent, Intrusion and Micromuse.
Entered Primary Response into the U.S. Government's evaluation for Common Criteria Certification, making it the first host-based intrusion prevention software product to undergo evaluation for Assurance Level 3 Augmented status. Achieving this certification in 2004 will enable Sana to sell its products into the U.S. Department of Defense and the National Security Agency to provide application level protection from worms, hackers and potential cyber-terrorist attacks.
Established a government sector business unit and a government advisory board tasked with expanding Sana's focus on sales and service programs that support federal and government customers.
About Bay Partners
For more than 27 years, Bay Partners—an early-stage venture capital firm with over $1 billion of capital under active management—has invested in, and nurtured, over 200 technology start-ups. Our goal is to build high value technology companies that provide consistently superior returns to both investors and entrepreneurs. To achieve this goal, we identify, research, fund, and actively support entrepreneurial endeavors that we believe have the best chance for success in today's intensely competitive world. For more information, visit www.baypartners.com.
About El Dorado Ventures
El Dorado Ventures is a leading venture capital partnership founded in 1986. EDV funds invest in early-stage, technology-based companies. With a particular focus on enterprise software and services; communications; and semiconductors and systems, the general partners help entrepreneurs turn startups into companies of lasting value. El Dorado's general partners have funded more than 100 start-ups over the past 25 years, including notable companies such as Earthlink Networks, Efficient Networks, Integrated Device Technologies, Novellus Systems, NuSpeed Internet Systems and Sun Microsystems. EDV is currently investing in new start-ups from the $250 million El Dorado Ventures VI Fund. For additional information visit www.eldorado.com.
About Sevin Rosen Funds
Sevin Rosen Funds is a top-tier venture capital firm with a track record of funding successful companies since 1981. The partnership has consistently made early-stage investments in pioneering technologies and companies with the potential to create new markets. The most recent fund, Sevin Rosen Fund VIII, is capitalized at $600 million. Compaq, Lotus, Cypress, Citrix, CIENA and Capstone Turbine are some of the firm's successful IPOs. Sevin Rosen Funds has offices in Dallas, Palo Alto, Austin, and San Diego. For more information go to www.srfunds.com.
About Sana Security
Sana Security develops and markets host-based intrusion prevention software that provides the most accurate, automated and effective detection and prevention of attacks for standard, complex and custom server applications on major platforms. Developed to commercialize breakthrough Sana Profile (SP) technology developed by founder Dr. Steven Hofmeyr, Sana Security's first product, Primary Response, provides host-based intrusion prevention employing a fundamentally different methodology than knowledge-based products, eliminating the need for constant updating and management by security experts and significantly reducing total cost of ownership for the enterprise. Sana Security is funded by leading venture capital firms Bay Partners, El Dorado Ventures and Sevin Rosen Funds. The company is headquartered in San Mateo, California. For more information about the company and its Primary Response products, visit www.sanasecurity.com.
Microsoft, Microsoft Exchange Server, Windows, 2000, Windows 2003, Windows NT are either registered trademarks or trademarks of Microsoft Corp. in the United States and/or other countries. NetScreen, the NetScreen logo and the NetScreen-5GT are registered trademarks and trademarks of NetScreen Technologies, Inc. in the United States and other countries. Other trademarks are the property of their respective owners.
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