Prolexic Technologies closes $13.9 million in growth funding, led by Kennet Partners
Cloud Security company continues rapid growth as Federal Governments & Global 2000 customers increasingly battle cyber attacks and demand DDoS protection systems.
HOLLYWOOD, FL — (March 28, 2011) Prolexic Technologies has announced the completion of a $13.9 million financing led by Kennet Partners, a leading technology growth equity investor. Javier Rojas, Managing Director at Kennet, and Gustavo Alberelli, Director at Kennet, will join the board.
Founded in 2003, Prolexic was the first company to establish global scrubbing centers to stop DDoS (distributed denial-of-service) attacks in the Cloud. Leveraging unique filtering techniques, high-speed bandwidth and peering, advanced routing and other patent-pending devices, Prolexic provides the most advanced and powerful DDoS detection and network protection systems available.
Prolexic’s DDoS mitigation service utilizes the company’s proprietary mitigation & control software and its experienced global security operations team together with the necessary bandwidth and hardware to fend off DDoS cyber attacks. Regardless of an attack’s size or complexity, Prolexic ensures its customers are protected.
Both the Federal government and private sector have experienced a surge in cyber attacks. According to the U.S. Department of Homeland Security, Federal agencies suffered 41,776 cyber attacks in 2010, an increase of almost 40% over 2009. In the private sector, several Global 2000 companies experienced cyber attacks following the recent Wikileaks ordeal, which highlighted the disruptive power of larger DDoS attacks.
“DDoS attacks have become costly forms of cyber-crime, and they are increasingly being proactively addressed by businesses to avoid the devastating costs of DDoS-related downtime,” said Kennet’s Javier Rojas.
Roger Stone, Prolexic’s board representative from previous investor, IPVG Corp. (PSE: IP), said, “Since Prolexic offers customers the best cyber defense available against DDoS attacks, we have seen demand for our product offerings increase exponentially. Kennet’s expertise in helping technology companies expand throughout the United States & Europe will be a great complement to IPVG’s strong network in Asia-Pacific.”
Kennet’s Gustavo Alberelli added, “As organizations of all sizes increasingly adopt Cloud computing solutions, DDoS and cyber attacks have soared in both frequency and sophistication. Prolexic has quickly emerged as the leader in Cloud Security and demand for its differentiated products has intensified. Kennet looks forward to building Prolexic into an industry leader.”
About Prolexic Technologies
Founded in 2003, Prolexic is an IT security provider of Cloud-based cyber defense solutions, such as distributed denial-of-service (DDoS) detection and mitigation, for the Federal Government and Global 2000 customers. For more information please visit www.prolexic.com
About Kennet Partners
Kennet is a leading international growth equity firm that invests in companies in North America and Europe. Kennet supports entrepreneurial technology businesses with expansion capital to accelerate growth and build exceptional shareholder value. Kennet is an experienced investor with approximately $600 million in funds under management. www.kennet.com