ForeScount Technologies Inc. has raised $8 million from all its current investors: Accel Partners, Amadeus Capital Partners, Meritech Capital Partners, and Pitango Venture Capital. The company will use proceeds from for development and marketing. The company has raised $51 million to date in four financing rounds, including the current round.
ForeScout develops regulatory compliance solutions, such as for Basel II - The New Basel Capital Accord of the Basel Committee on Banking Supervision and the Sarbanes Oxley Act. In 2005, the firm refocused to develop clientless network access control (NAC) solutions.
According to IVC Online, ForeScout had $18 million in sales in 2006. In its press release, the company said it had 80% growth in 2007, suggesting more than $30 million revenue.
Doron Shikmoni, who heads ForeScount's R&D center in Israel, co-founded the company in 2000, together with CTO Oded Comay, and chairman Hezy Yeshurun. The CEO is T. Kent Elliott, and the company has 80 employees in Israel and in other countries.
Published by Globes [online], Israel business news - www.globes-online.com - on July 3, 2008
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