CipherTrust Completes $42 Million Round of Venture Financing

Monday 8 March 2004 08:45 CET | News

CipherTrust, has completed a $42 million round of financing co-led by top-tier venture capital firms Greylock and Battery Ventures.

The Series B round, which is the companys first institutional round of financing, also includes U.S. Venture Partners, Noro-Moseley Partners and Silicon Valley Bank. In conjunction with the round, Thomas Crotty, Battery Ventures general partner, and Asheem Chandna, Greylock venture partner, will join CipherTrusts board of directors. CipherTrusts powerful award-winning IronMail appliance combines the five critical email security components of spam and fraud prevention, virus and worm protection, policy and content compliance, email privacy, and secure email gateway capabilities into a single easy to deploy and manage platform. Founded in 2000 by Jay Chaudhry, CipherTrust tripled revenues in 2003, achieved its sixth consecutive quarter of profitability in the final three months of the year, and now boasts a customer base that includes over 25 percent of the Fortune 100 and more than 20 percent of the Fortune 500. Last year, CipherTrust received PC Magazines coveted Editors Choice award for corporate anti-spam tools, and InfoWorld labs recently rated IronMail excellent -- the highest possible rating for reviewed products. The company currently has more than 130 employees worldwide.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce