Bit9, Inc., the leading provider of application control and device control solutions, today announced it has raised $10 million in a third round of private venture funding. Leading the round was .406 Ventures, with participation from existing investors Kleiner, Perkins Caufield & Byers, Atlas Venture, and Highland Capital Partners. The new round brings Bit9's venture funding to date to $25.8 million, with an additional $2 million provided by a federal grant from NIST ATP in 2003.
CAMBRIDGE, Mass. (Business Wire EON) October 22, 2007 --
Bit9, Inc., the leading provider of application control and device
control solutions, today announced it has raised $10 million in a third
round of private venture funding. Leading the round was .406
Ventures, with participation from existing investors Kleiner,
Perkins Caufield & Byers, Atlas
Venture, and Highland Capital Partners.
The new round brings Bit9’s venture funding to
date to $25.8 million, with an additional $2 million provided by a
federal grant from NIST ATP in
2003.
“By providing a completely differentiated application
control and device
control solution that enables customers to specify which software
and devices are appropriate and approved to operate within their
environment, Bit9 customers experience an unprecedented level of
visibility and control over their networks and endpoints,”
said Maria Cirino, managing director of .406 Ventures. “The
technology
behind this innovative approach to securing enterprise desktops and
laptops is unequaled, and .406 Ventures is pleased to lead this
financing round to help the company leverage its early market leadership.”
“A very important paradigm shift within the
security industry is software whitelisting
and device whitelisting, and Bit9 gives customers an easy and
business-friendly way to achieve it,” said Ted
Schlein, partner at Kleiner, Perkins, Caufield & Byers. “We
believe Bit9 offers a game-changing technology that transforms the way
companies protect their endpoints.”
“The bottom line is that Bit9's application
control and device control solutions are addressing two of the most
important concerns in information security today: preventing
malware and data
leakage,” said Jeff Fagnan, partner,
Atlas Venture. “Bit9 continues to gain market
traction and momentum with prospects and customers; the new funding will
help Bit9 further capitalize on its impressive track record.”
“Bit9’s
breakthrough approach to controlling desktops and devices both automates
the approval of trusted software and devices and stops unapproved
software from executing, providing customers with a multi-layered
endpoint security strategy,” said Paul
Maeder, managing general partner, Highland Capital Partners. “For
customers needing Windows
lockdown or whitelisting solutions, there is really nothing else
like it in the industry, and we are delighted to continue our support of
Bit9.”
In addition to closing its third round of funding, Bit9 recently
introduced Version 4.0 of its Parity™
application control and device control solution with enhanced automatic
whitelisting of trusted software and devices, granular device
whitelisting, simulation of policy enforcement, and flexible Active
Directory integration.
Bit9 also offers the Bit9 Knowledgebase,
the largest collection of actionable intelligence about the world’s
software, including commercial applications, open-source software,
drivers, libraries, and malware. The Bit9 Knowledgebase currently
comprises more than 4 billion files and grows by up to 50 million
records a day. This software identification service helps users
understand what is on their desktops, accurately assess threat levels,
and build a whitelist of trusted applications and devices specific to
their environment.
Bit9 has been recognized for its innovative approach to desktop security
with 8 prestigious awards this year, including SIIA’s
CODiE awards, AlwaysOn Top 100 Private Companies, and the ComputerWorld
Honors Awards, among others.
About .406 Ventures
Founded in 2006, .406 Ventures is an early-stage venture capital firm
that invests in innovative Information Technology (“IT”)
and services companies founded by the finest entrepreneurs. The .406
Ventures team is comprised of industry entrepreneurs, operators and
investors who apply real world experience, deep industry knowledge and
networks, and strong company-building skills to create value for our
entrepreneurs and investing partners. .406 Ventures makes early-stage
and de novo investments in market-changing IT Security and
Infrastructure, Technology-Enabled Business Services, and
Next-Generation Software companies.
About Bit9, Inc.
Bit9, Inc. is the leading provider of application control and device
control solutions. The company’s
award-winning, patent-pending whitelisting technology prevents malicious
software and data leakage by centrally controlling which applications
and devices can and cannot operate.
Unlike other application control and device control alternatives, Bit9
leverages the world’s largest knowledgebase
of application intelligence to achieve business-friendly whitelisting,
enabling IT professionals to realize the highest levels of desktop
security, compliance, and manageability. Founded in 2002 by the founders
of Okena (acquired by Cisco Systems (NASDAQ: CSCO)) and headquartered in
Cambridge, Massachusetts, Bit9 is a privately held company. For more
information, visit http://www.bit9.com.
Bit9, Inc., Automatic Graylists, FileAdvisor, Find File, Parity, and
ParityCenter are trademarks or registered trademarks of Bit9, Inc. All
other names and trademarks are the property of their respective owners.
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