NEA leads PortAuthority $18m third round

September 27, 2006

NEA leads PortAuthority $18m third round. Check it out:

(Israel Business Arena Via Thomson Dialog NewsEdge) Information security start-up PortAuthority Technologies Ltd. yesterday announced that it closed its third financing round, raising $18 million. The company has raised $40 million to date.

New Enterprise Associates (NEA) led the round, joined by the company's existing investors, Sequoia Capital, Greylock Partners and Lexington Ventures. The confidence shown by the venture capital funds is turning PortAuthority into a promising information security company.

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PortAuthority Technologies was founded in 200 by VP technical services Assaf Litai, chief scientist Dr. Lidror Troyansky, and Ariel Feld. The company develops technology to protect an enterprise's software environment, especially from leaks of sensitive information. The company's solutions help companies comply with regulations such as Sarbanes-Oxley Act (SOX) and the Health Insurance Portability and Accountability Act (HIPAA).

Previously called Vidius, until 2003 the company focused copyright protection of video films.

Published by Globes [online], Israel business news - www.globes.co.il - on September 26, 2006

Copyright of Globes Publisher Itonut (1983) Ltd. 2006

Copyright 2006 Globes. Source : Financial Times Information Limited.

Related Tags: company, portauthority, PortAuthority, round, globes, information

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