Counterpane Internet Security Secures $20 Million in Series D Funding; Comcast Interactive Capital & Meritech Join with Existing Investors to Accelerate Counterpane's Growth.Business Editors CUPERTINO, Calif.--(BUSINESS WIRE)--Jan. 14, 2003 Counterpane Internet Security ''This article or section is being rewritten at Internet security is the process of protecting data and privacy of devices connected to internet from information robbery, hacking, malware infection and unwanted software. , Inc., developer and acknowledged leader of Managed Security Monitoring (MSM MSM - Micronetics Standard MUMPS ) services, today announced the closing of its Series D round of financing. Led by Comcast Interactive Capital and Meritech Capital Partners, the round also included existing investors Accel Partners, Bessemer Venture Partners Bessemer Venture Partners is a private venture capital firm with offices in Silicon Valley, New York, Massachusetts, China, and India. It has backed such companies as Ciena, Flarion, Parametric Technologies, Skype, Staples, VeriSign and Veritas. , Dell Ventures, Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. Venture Partners, and Symphony Technology
Group.
Counterpane achieved a record quarter for new bookings in Q4, 2002 and the company will use these funds to accelerate the growth of the business through continued investments in sales, marketing & service delivery. "Counterpane's services are delivering tremendous value to their customers," said Samuel H. Schwartz, Senior Managing Director of Comcast Interactive Capital. "In an environment requiring awareness of and responsiveness to increasingly complex IT security events, Counterpane provides enterprises with up-to-date expertise and professional monitoring to protect their networks. Counterpane's growth and strong relationships with its customers, channel partners, and industry analysts convinced us that Counterpane represents an excellent investment opportunity." William J. Harding, Managing Member of Morgan Stanley Venture Partners added, "In a very difficult climate for technology spending, Counterpane continues to prove that managed security monitoring is a key priority for business leaders concerned about protecting their corporate information." "We were fortunate to find our round of funding oversubscribed Refers to connecting more users to a system than can be fully supported if all of them were using it at the same time. Networks and servers are almost always designed with some amount of oversubscription, counting on the fact that everybody does not need the service simultaneously. ," stated Tom Rowley, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Counterpane Internet Security, Inc. "With the added support of premier investors such as Comcast Interactive Capital and Meritech, this funding will enable us to expand our leadership position and capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. opportunities afforded by our strong balance sheet." Samuel Schwartz has joined Counterpane's Board of Directors. About Comcast Interactive Capital Comcast Interactive Capital (CIC CIC circulating immune complexes. CIC Circulating immune complexes. See Immune complexes. ) is a venture capital fund focused on broadband, enterprise and interactive technologies. CIC is affiliated with Comcast Corporation, a diversified global leader in cable, broadband services, telecommunications, electronic commerce, and entertainment. CIC's primary goal is to generate superior financial returns from private equity investments in early-stage technology companies. To achieve this goal, CIC works to foster the success of its portfolio companies by bringing to bear the unique resources, experience, and insight of both CIC and the Comcast family of companies. Additional information is available at www.civentures.com. About Morgan Stanley Venture Partners Morgan Stanley Venture Partners is the venture capital affiliate of Morgan Stanley Private Equity, a unit of Morgan Stanley (NYSE NYSE See: New York Stock Exchange :MWD MWD Metropolitan Water District of Southern California MWD Measurement While Drilling (oil drilling) MWD Morgan Stanley Dean Witter (stock symbol) MWD Molecular Weight Distribution MWD Military Working Dog ), the global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. firm. Morgan Stanley Venture Partners manages a group of private equity funds that invest in high growth companies, concentrating on the information technology and health care industries. Since its inception in 1986, Morgan Stanley Venture Partners has managed over $1 billion of capital commitments and has invested in over 140 emerging growth companies. For more information about Morgan Stanley Venture Partners please visit www.msvp.com. About Counterpane Counterpane Internet Security, Inc., is the innovator and acknowledged leader in providing Managed Security Monitoring (MSM) services. MSM combines people and technology to safeguard businesses. Working from a network of technically sophisticated Secure Operations Centers (SOCs) and using progressive analysis tools, Counterpane has built the most advanced analysis, correlation, detection, and diagnosis technology, comprising of a Sentry monitoring probe on the customer's network and the Socrates knowledge base inside the SOCs. Using this technology, Counterpane's expert Security Analysts are able to detect security incidents -- both external intrusions and insider attacks -- in real time, and tailor immediate, effective responses for its customers. The company is funded by Accel Partners, Amerindo Investment Advisors Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and , Inc., Comcast Interactive Capital, LP, Bessemer Venture Partners, Dell Ventures, LP, Meritech Capital Partners, LP, Morgan Stanley Venture Partners and Symphony Technology Group. Headquarters are located at 19050 Pruneridge Avenue, Cupertino, California, USA. Phone: 408/777-3600, Fax: 408/777-3601, Website: www.counterpane.com. Counterpane is a trademark of Counterpane Internet Security, Inc. All other companies, brand names or products are trademarks or registered trademarks of their respective companies. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion