(ALISO VIEJO, CA) June 7, 2004 — eEye® Digital Security, a leading developer of vulnerability management software solutions for enterprise security, today announced that the company has closed its Series D funding round of $15 million. The round, led by Bessemer Venture Partners, brings the total amount of funding to date to $30 million. Insight Venture Partners, which led the Series C round, participated with their pro-rata portion of the funding. eEye has experienced over 100 percent annual- growth for four consecutive years and will use the additional funding for research and product development, sales and marketing expansion, and to make select investments to propel continued global growth.
“With enterprises scrambling to patch software throughout their networks, we set out to find the company that will provide them the tools and infrastructure they need to efficiently and measurably remediate the growing wave of reported vulnerabilities,” said David Cowan, general partner of Bessemer Venture Partners. “We surveyed the landscape of solutions, solicited the opinions of technical experts, and confirmed our findings with enterprises such as Continental Airlines, Citigroup and Prudential. Our research clearly identified eEye as the one company with the product family, technical expertise and global presence to meet today’s most pressing need in enterprise data security.”
eEye Digital Security is a leading vulnerability management software developer that helps its enterprise customers mitigate security vulnerabilities found in software and those related to incorrect system configurations, as well as security issues related to policy and compliance. In operation since 1998, eEye’s proactive approach to enterprise security – eliminating vulnerabilities rather than thwarting attacks – has resulted in over 7,500 customer deployments worldwide.
“Since our original investment in November 2002, eEye has demonstrated outstanding execution and exceptional growth,” stated Scott Maxwell, managing director at Insight Venture Partners. “With respect to the future, eEye’s world-class network vulnerability research team puts the company in the best possible position to continue to develop and deliver advanced security software for enterprise networks.”
eEye's research team has discovered more critical security vulnerabilities than any other organization over the last two years, including the vulnerabilities that were exploited by the Code Red, Sasser and SQL Sapphire worms, and the ASN and RPC DCOM vulnerabilities. This research directly contributes to a growing portfolio of vulnerability management software solutions that dramatically mitigate enterprise risk from attack and significantly reduce the likelihood that potential attacks can penetrate corporate networks and cause harm and financial loss. eEye’s flagship product, the Retina® Network Security Scanner, leads the industry in accuracy, its ability to scan enterprise networks without crashing systems and its open, modular architecture, making it the easiest product on the market to deploy, use and integrate with existing enterprise applications.
“eEye is committed to expanding its position at the forefront of the security software industry,” stated Marwan Naja, eEye’s Co-CEO and CFO. “Today’s announcement and subsequent funding will allow us to support the release of many new products, increase our global presence and drive innovation with our product development teams.”
David Cowan and Jeremy Levine of Bessemer Venture Partners will join eEye’s board of directors as a result of this funding round.
“We are very excited about Mr. Levine and Mr. Cowan, a co-founder of VeriSign, joining our board as trusted advisors and mentors for our continued efforts in building the security industry’s leading vulnerability management company,” stated Firas Bushnaq, eEye’s co-CEO and CTO.
About eEye Digital Security
eEye Digital Security® is pioneering a new class of security products:integrated threat management. This next-generation of security detects vulnerabilities and threats, prevents intrusions, protects all of an enterprise’s key computing resources, from endpoints to network assets to web sites and web applications, all while providing a centralized point of security management and network visibility.eEye’s research team is consistently the first to identify new threats in the wild, and our products leverage that research to deliver on the goal of making network security as easy to use and reliable as networking itself. Founded in 1998 and headquartered in Orange County, California, eEye Digital Security protects more than 9,000 corporate and government organizations worldwide, including half of the Fortune 100. For more information, please visit www.eeye.com
Primary Agency Contact
Victor Cruz
MediaPR
(508) 655-4397 eEye@mediapr.net
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Ralph Klöwer
INTERFACE Relations
+49 (0) 89-552 688-66 r.kloewer@interface.pr.de
Corporate Contact
Stacy Newman
eEye Digital Security
(949) 900-4131 press@eEye.com
