CyberSafe Raises $21 Million and Appoints New Member to Board; Proceeds to Fund Operations and Strategic Opportunities.Business Editors, High-Tech high-tech also hi-tech adj. Informal Of, relating to, or resembling high technology. high-tech Adjective same as hi-tech Adj. 1. Writers SEATTLE--(BUSINESS WIRE)--Jan. 3, 2001 CyberSafe Corporation, the leader in transactional security, today announced that it has raised $20.7 million through the most recent closing of its private equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. . Lead investors are Oak Investments, Financial Technology Ventures, and Accel Partners. The company also announced the appointment of Richard N. Garman, General Partner of Financial Technology Ventures, to its board of directors. "CyberSafe has the opportunity to grow on a global scale and I look forward to serving on its board and working with the other directors and CyberSafe executives to make this extraordinary vision a reality," Garman said. "Our investors have shown significant confidence in our ability to provide the security industry with compelling software and services," states Jim Cannavino, CyberSafe 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. and chairman of the board. "Our opportunity is tremendous. These funds will be used to further our Centrax(R) audit and misuse detection Misuse Detection actively works against potential insider threats to vulnerable company data. Misuse Misuse detection is an approach in detecting attacks. In misuse detection approach, we define abnormal system behaviour at first, and then define any other behaviour, as software offering; eBusiness and Security Group (eBSG) -- providing executive level security-consulting; and our traditional CyberSafe(R) product and service offerings." For Additional Information To learn more about Centrax software, call toll free 877/877-3512 (in Europe call 44 207 563 9400) or visit http://www.cybersafe.com/solutions/centrax.html. To learn more about eBSG, please visit http://www.ebsg.net About CyberSafe Corporation CyberSafe Corporation is the leader in transactional security for accelerating business growth. CyberSafe has the knowledge and foresight (graphics, tool) Foresight - A software product from Nu Thena providing graphical modelling tools for high level system design and simulation. to help its customers grow their businesses by increasing the adoption and the security of transactions between business processes. The Company's comprehensive portfolio includes transaction services, managed services An umbrella term for third-party monitoring and maintaining of computers, networks and software. The actual equipment may be inhouse or at the third-party's facilities, but the "managed" implies an ongoing effort; for example, making sure the equipment is running at a certain quality , and infrastructure solutions. CyberSafe enables its customers to leverage the extraordinary power of the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the with increased confidence and minimized risk by closing the gap between risk and opportunity. CyberSafe is headquartered in Issaquah, WA, and on the World Wide Web at http://www.cybersafe.com. For additional information, email info@cybersafe.com. CyberSafe(R) is a registered trademark of CyberSafe Corporation and its wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. . All other products and trademarks are the property of their respective owners. |
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