Bit9 Raises $34.5 Million In Round Led By Sequoia Capital

[DarkyAngel]

Bit9 Raises $34.5 Million In Round Led By Sequoia Capital

Bit9, a provider of application whitelisting security solutions, today announced that it has closed $34.5 million in Series D funding in a round led by Sequoia Capital.

The company says it will use the new capital to fund new product development efforts and expand sales and marketing.

Bit9 provides trust-based application control and whitelisting technologies to help companies defend against advanced threats that traditional anti-malware protections may not identify.

The company's security solutions help provide visibility and control over all software on endpoints, to reduce the risk caused malware, targeted attacks and Advanced Persistent Threats.

“This latest round of funding is the largest in the company’s history and underscores the support Bit9 has received from investors who understand the changing nature of the security market,” said Patrick Morley, president and CEO of Bit9. “It places a bet squarely on our vision and technology. It’s an exciting time as we are dramatically changing how organizations protect themselves from IP theft and advanced attacks by focusing on a trust-based approach.”

The company says that it has grown 100 percent year-over-year for the past two years, and currently protects more than 700 organizations across various industries including education, finance, government, healthcare, retail and utilities.

In 2003, Bit9 was awarded a $2M United States federal research grant from the National Institute of Standards and Technology-Advanced Technology Program (NIST ATP) to conduct the research that is now at the core of its application whitelisting solutions.

In April 2011, Waltham, Massachusetts based Bit9 raised $12.5 million in funding. In September 2011 the company announced that Richard Clarke, former Cybersecurity Czar for President George W. Bush, joined the company’s Board of Directors.

Existing investors Atlas Venture, Highland Capital Partners, Kleiner Perkins Caufield & Byers, and .406 Ventures also participated in the round.

Sursa