Solera Networks™ Closes $15M Series C Financing; Trident Capital Leads Investment
July 26th, 2010
“Capital Propels Growth of Real-Time Network Forensics Business, Backed By Seasoned Security Investors
Las Vegas, NV (Black Hat 2010) — July 27, 2010 - Solera Networks, a leader in real-time network forensics and network monitoring, announced today that it has closed $15 million in Series C financing. New investor Trident Capital leads the round, joined by existing investors Allegis Capital and Canopy Ventures. Trident managing director J. Alberto Yépez will join Solera Networks’ Board of Directors. Solera Networks will use the capital to expand sales and marketing activities, accelerate product development, and fuel the company’s next stage of growth.
“It is Solera Networks’ mission to be the definitive leader in real-time network forensics and situational awareness,” said Steve Shillingford, president and CEO of Solera Networks. “Enterprise and government CISOs recognize that today’s cyber security threats require a new kind of defense — a full record of network traffic, instantly accessible and searchable. Trident Capital saw the opportunity to extend our leadership position, making this technology ubiquitous in the defense of critical infrastructures.”
Trident Capital has a strong track record of investing in and building successful security companies including AirTight Networks, Arxan, HyTrust, Neohapsis, Qualys, Sygate (acquired by Symantec – NASDAQ: SYMC), Tablus (acquired by EMC – NYSE: EMC), Thor Technologies (acquired by Oracle – NASDAQ: ORCL), Tricipher, and Voltage Security. Red Herring ranked Trident No. 26 out of 1,800 global venture firms. “Trident applies a sector-focused and thesis-driven security investment approach that focuses on pressing customer priorities, emerging security threats and regulatory compliance requirements,” said J. Alberto Yépez, Trident Capital managing director. “We are very impressed with Solera Networks’ proven management team, superior products, partner ecosystem and outstanding references from sophisticated customers in the intelligence community and commercial markets. Trident is delighted to partner with Solera Networks to establish the next generation network security platform.”
Solera Networks’ family of appliances capture, store, and index network traffic for a period of days, weeks, or longer, and have proven to be the highest performance appliances on the market. The Solera DeepSee™ suite of applications, included with each appliance, harnesses stored data to provide real-time and historical visibility to threats by reconstructing and visualizing events in full fidelity. Technology patented by Solera Networks is proving to be a critical defense against advanced threats targeting government and enterprise computer systems.
By developing cutting edge products and delivering on quality and performance, Solera Networks has attracted a strong group of partners and advocates for the advancement of network forensics. “Just like in the physical world, you need security cameras to have good security. Network forensics cuts the time to respond to an incident dramatically so that significant losses can be avoided,” said Kevin Mandia, president and CEO of Mandiant, and author of Incident Response and Computer Forensics. “We now recommend real-time network forensics to all of our clients as part of a strong security posture. The team at Solera Networks has built a great product that scales and performs beautifully. This is a product that everyone needs on their network.”
About Trident Capital
Trident Capital is one of the world’s leading venture capital and private equity firm with more than $1.8 billion of capital under management, including the recently closed Trident Capital Fund VII. The firm focuses on investments in Software and Information Technology-Enabled Services, Healthcare IT, Internet and CleanTech. Trident invests across multiple stages, including early and late stage venture capital as well as growth equity and buyouts. The firm has made over 160 investments since inception in 1993. Trident has investment offices in Palo Alto, CA and Westport, CT. For more information on Trident Capital, visit http://www.tridentcap.com.”