Safend Closes $7.4M in Series B Funding; Elron Electronic Industries Joins Existing Investors, Intel Capital and Walden Israel Venture Capital.PHILADELPHIA -- Safend, a leader in end-point security solutions today closed a Series B funding, in which Elron Electronic Industries, (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ELRN) (TASE TASE Tel Aviv Stock Exchange TASE The All Seeing Eye TASE Tactical Air Support Element TASE Thrust Assessment Support Environment TASE Telecontrol Application Service Elements (IEC communications protocol) : ELRN) (www.elron.com) joined existing investors, Intel Capital (www.intel.com) and Walden Israel Venture Capital (www.walden.co.il) for a second round funding of $7.4 million. Founded in 2004, Safend develops enterprise security solutions that prevent data leakage from the enterprise and intrusion to the enterprise through desktops, laptops, mobile devices and the many devices that can be connected to these endpoints through all physical and wireless communication channels including media players, Smart Phones with Bluetooth (TM), USB Flash Drives, and other portable storage devices. "Safend is committed to developing best-of-breed endpoint security products that meet the evolving needs of enterprise customers," said Gil Sever, 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 Safend. "This new round of funding will help Safend solidify its US presence and further expand the business into additional global markets, as well as enhance and expand our product offering in order to provide wider-reaching protection against ever-growing security threats". Noga Kap, General Partner at Walden Israel, which exclusively invested in Safend's initial funding in 2004, noted, "We are extremely pleased with Safend's progress, which is already ahead of plan -- in terms of product development, execution, and market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" . The market has already been very receptive to Safend and we expect that the trend will only intensify." Doron Birger, President & Chief Executive Officer of Elron commented: "This announcement reflects Elron's continued investment in new leading edge technology companies. Safend is a leading company in a new fast growing market of end point security solutions of information leakage Information leakage happens whenever a system that is designed to be closed to an eavesdropper reveals some information to unauthorized parties nonetheless. For example, when designing an encrypted instant messaging network, a network engineer without the capacity to crack your detection and prevention. With its innovative technology, top management and highly experienced professional team, we are confident that Safend will develop into a successful company". About Elron Elron Electronic Industries Ltd. is a high technology holding company based in Israel. Through affiliates, Elron is engaged with a group of high technology operating companies in the fields of medical devices, telecom, semiconductors and advanced materials Advanced Materials is a leading peer-reviewed materials science journal published every two weeks. Advanced Materials includes Communications, Reviews, and Feature Articles from the cutting edge of materials science, including topics in chemistry, physics, . For further information, visit www.elron.com, or contact Rinat Remler, +972-3-6075555 or rinat@elron.net. About Intel Capital Intel Capital, Intel's venture investment program, focuses on making minority equity investments to grow the Internet economy The Internet Economy refers to conducting business through markets whose infrastructure is based on the Internet and World-Wide Web. An Internet economy differs from a traditional economy in a number of ways, including: communication, market segmentation, distribution costs, and price. in support of Intel's strategic interests. Intel Capital invests in hardware, software and services companies in several market segments, including computing, networking, and wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. . Intel Capital has invested more than US$4 billion in approximately 1,000 companies in more than 30 countries since 1991. Since its inception, about 160 portfolio companies have been acquired by other companies and another 150 have gone public on various exchanges around the world. Intel Capital employs investment managers in about 25 countries worldwide. In 2004, Intel Capital invested more than US$130 million in about 110 deals with approximately 40 percent of its investments made outside the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . For more information, visit www.intel.com/capital or contact Feroz Sanaulla, EMEA (Europe, Middle East, Africa) Refers to that region of the world. For example, one might see products packaged differently for the UK, EMEA and Asia Pacific markets. Marketing Manager, +44207 2929 788. About Walden Israel Walden Israel is one of the first Israeli early-stage venture capital funds Venture Capital Funds An investment fund that manages money from investors seeking private equity stakes in small and medium-size enterprises with strong growth potential. Notes: . Founded in 1993, Walden Israel manages $185 million and focuses on investments in areas of communications and information technology. Walden Israel is affiliated with the Walden International and Walden VC Groups, which manage collectively over $2.5 billion and have established presence in the US and over ten countries in Asia and the Pacific Rim Pacific Rim, term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region. . For more information, contact Noga Kap, Walden Israel General Partner, +972-9-961-8000, +972-54-4428289, or +1 (415) 215-8106 or Leslie Perlberg, Director of Marketing Communications, +972+54-661-7611. About Safend Safend is headquartered in Tel Aviv, Israel, with US offices in Philadelphia, PA, and is funded by Walden Israel, Elron electronic industries and Intel Capital. Safend provides the world's most comprehensive end-point security solutions for the enterprise with its USB Port Protector and Safend Protector, which are available exclusively through authorized resellers worldwide. For more information on Safend and its products, visit www.safend.com, or contact Dor Skuler, Vice President of Business Development, 215.496.9646. dor@safend.com, or Heather Lazenby, 678.910.7178, hslazenby@bellsouth.net. |
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