Prolexic Technologies Inks $30M in Series C
HOLLYWOOD, FL, Global leader in Distributed Denial of Service (DDoS) protection services, announced today it has closed a US$30 million Series C funding round.
Prolexic Technologies, the global leader in Distributed Denial of Service (DDoS) protection services, announced today it has closed a US$30 million Series C funding round led by new investors Trident Capital and Intel Capital. Prolexic's existing shareholders include Kennet Partners, Camden Partners and Medina Capital.
This latest round of financing comes at a time when Prolexic's year-over-year revenues have increased 65 percent, while remaining EBITDA positive.
Following the Series C investment, Trident Capital's Managing Director Gustavo Alberelli will join Prolexic's Board of Directors. 'For the past two years, I have seen companies and government agencies around the world repeatedly select Prolexic for DDoS protection, cementing the firm's position as market leader,' said Alberelli. 'I'm excited to continue working with Prolexic management and providing Trident's IT security expertise to help Prolexic continue its rapid expansion.'
The Series C financing comes in the aftermath of two of the largest DDoS attacks ever seen in the industry. So far in 2013, Prolexic has successfully mitigated the single largest attack in its 10-year history (167 Gigabits per second), as well as the world's most powerful attack campaign (144 million packets per second). To keep pace with bigger, stronger and more sophisticated attacks, Prolexic will use the new funding to expand its worldwide scrubbing center footprint, increasing the capacity of its cloud-based DDoS mitigation platform beyond 1 Tbps, and to develop new cloud-based security services. Prolexic currently operates four scrubbing centers located in London, Hong Kong, San Jose and Ashburn, Va.
'We are pleased to partner with seasoned security investors like Trident Capital and Intel Capital,' said Scott Hammack, chief executive officer of Prolexic. 'With this additional funding, we will be able to accelerate a number of strategic initiatives as we continue to expand our portfolio of cloud-based products and industry-leading DDoS protection services.'
Prolexic is the world's largest, most trusted Distributed Denial of Service (DDoS) mitigation provider. Able to absorb the largest and most complex attacks ever launched, Prolexic restores mission-critical Internet-facing infrastructures for global enterprises and government agencies within minutes. Ten of the world's largest banks and the leading companies in e-Commerce, SaaS, payment processing, travel/hospitality, gaming and other at-risk industries rely on Prolexic to protect their businesses. Founded in 2003 as the world's first in-the-cloud DDoS mitigation platform, Prolexic is headquartered in Hollywood, Florida and has scrubbing centers located in the Americas, Europe and Asia. To learn more about how Prolexic can stop DDoS attacks and protect your business, please visit prolexic.com, follow them on LinkedIn, Facebook , Google+ , YouTube, and @Prolexic on Twitter.
About Trident Capital
Founded in 1993, Trident Capital invests primarily in growth equity together with select investments in venture. Since its inception, Trident has raised nearly US$2 billion across seven funds and invested in more than 170 companies throughout the Software, Internet and Business Services sectors. Notable Trident investments in the IT Security market include: AirTight Networks, Alienvault, Arxan, HyTrust, Mocana, Neohapsis, Qualys, Solera Networks (acquired by Blue Coat), Sygate (acquired by Symantec), Tablus (acquired by EMC), Thor Technologies (acquired by Oracle), Tricipher (acquired by VMWare), and Voltage Security. Trident is headquartered in Palo Alto, California. For additional information, visit http://www.tridentcap.com.
About Intel Capital
Intel Capital, Intel's global investment and M&A organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, health, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$10.9 billion in over 1,294 companies in 54 countries. In that timeframe, 202 portfolio companies have gone public on various exchanges around the world and 324 were acquired or participated in a merger. In 2012, Intel Capital invested US$352 million in 150 investments with approximately 57 percent of funds invested outside North America. For more information on Intel Capital and its differentiated advantages, visit http://www.intelcapital.com or follow @Intelcapital.
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