08 Mar SecurePipe raises $3.2 million in funding
Madison, Wis. – SecurePipe, Inc., a Madison-based provider of managed Internet network security services, announced Thursday it raised $3.2 million in funding from First Analysis, Argentum Group and Prism Opportunity Fund. The financing will be used to expand the company’s sales and marketing, business development, partner recruitment and customer service.
“The demand for managed network security is growing dramatically as evidenced by a 160-percent growth in our business last year,” said Art Roldan, SecurePipe chief executive officer.
“We have always believed and the market is clearly validating that SecurePipe’s unique approach is ideally suited for distributed enterprises,” said Howard Smith, managing director with First Analysis and SecurePipe board member.
The Prism Opportunity Fund’s participation in each of SecurePipe’s institutional rounds reflects our confidence in the very strong senior management team, the value of the SecurePipe’s managed security service offerings and the attractiveness of the market opportunity,” said Ted Feierstein, a general partner at Prism Opportunity Fund and SecurePipe board member.
SecurityPipe, founded in 1996, offers managed firewalls, intrusion detection systems, virtual private networks, e-mail relay services, firewall authentication for intranet services and remote vulnerability scan and assessments.