Third Brigade, Provider of Intrusion Prevention Systems, Completes a Total of $19 Million of Venture Funding
Investors accelerate commitment to intrusion prevention with additional funds.
Ottawa, ON & Reston, VA (PRWEB) December 8, 2005
Third Brigade Inc. (www. thirdbrigade. com), an intrusion prevention system provider, today announced the completion of their funding with the addition of $13.0 Million CDN ($11.5 Million USD) by its existing investors, BCE Capital, Celtic House Venture Partners, and BDC Venture Capital. This follows the initial $6.0 Million CDN ($5.0 Million USD) financing, which was secured in April, 2005.
“This financing is simply the next step in the capitalization plan established when we founded the company, and further validates our initial assumptions,” said Wael Mohamed, President and CEO of Third Brigade. “We selected the right financial partners, have shipped product, added major customers in strategic markets, and our business plan is now fully funded. The additional investment will allow us to aggressively expand our marketing, sales and professional services efforts.”
“With our affiliation to the Bell Canada group of companies, BCE Capital (www. bcecapital. com) closely follows the telecommunications and information technology sectors,” said Jim Orlando, Managing Director of BCE Capital. “The host-based intrusion prevention market is rapidly developing in response to the nature and types of network attacks that are taking place, and the types of advanced, network-based applications and services that companies are launching. We’ve accelerated our investment in Third Brigade and its scalable, high performance intrusion prevention system, based on our assessment of the market opportunity.”
“Enterprises are quickly realizing that traditional perimeter defenses -- including network firewalls, anti-virus, and intrusion detection systems (IDS) -- will not stop all attacks that threaten their hosts, applications and data,” said Andrew Waitman, Managing Partner of Celtic House Venture Partners (www. celtic-house. com). “We believe in Third Brigade’s strategy of targeting a select number of related vertical markets through direct and indirect channels with a highly differentiated product, and in their ability to quickly and successfully execute this plan.”
About Third Brigade
Third Brigade provides host-based intrusion prevention systems to financial services, government, health care, telecommunications and other organizations that need to implement security best practices as part of a defense-in-depth strategy. Our Deep Security solutions give you greater control of your business. They stop network attacks before they impact hosts and web applications, help ensure compliance with regulations and policies, and maximize the performance of your people, processes and hosts. Unlike others, Third Brigade provides an innovative hybrid approach, a positive security model, proactive defense, and a powerful administrative platform. For more information, please visit www. thirdbrigade. com
About BCE Capital
BCE Capital is an affiliate of Bell Canada Enterprises, Canada's largest communications company. BCE Capital is a leading Canadian Venture Capital firm that invests in early stage innovative companies in both communications and information technology throughout North America. Since 1987, BCE Capital has had a successful track record in backing and assisting over 40 emerging growth companies and their entrepreneurs, many of which have gone on to be leaders in their respective industries. BCE Capital is currently investing in its fourth fund, with a mandate over the next five years to manage an investment pool of $250 million in venture related investments. Additional information on BCE Capital can be found at www. bcecapital. com.
About Celtic House Venture Partners
Celtic House Venture Partners, a private venture capital firm, is a leading investor in early-stage technology companies in North America and Europe. With over US$500 million dollars under management Celtic House focuses on investments in five industry sectors: semiconductors, systems, MEMS, optics and software. The firm has offices in Ottawa, Toronto and Cambridge, UK. Celtic House’s current portfolio companies include: Cavendish Kinetics, Diablo Technologies, Fresco Microchip, Got Corp, Sandvine, Sirific, Third Brigade, TrialStat, Tropic Networks and ViXS Systems. For more information, please visit www. celtic-house. com.
About BDC Venture Capital
BDC Venture Capital is a major venture capital investor in Canada, active at every stage of the company’s development cycle, from seed through expansion, with a focus on technology-based businesses that have high growth potential and that are positioned to become dominant players in their markets. BDC Venture Capital has been involved in venture capital since 1975 and has to date invested in more than 400 different companies. It currently manages approximately $550 million in venture capital assets invested in the areas of Life Sciences, Telecommunications, Information Technology, Advanced Technologies and Funds Investments. For more information, visit www. bdc. ca.
For more information, contact:
Kathryn Schwab
Media and Analyst Relations
Third Brigade, Inc.
Tel. (613) 599-4505 x3001
Cell (613) 858-4407
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