The financing round is taking place at a company value of $100 million. Spearhead Technologies develops security products.
Spearhead Technologies, a start-up dealing in security, today announced a third financing round for raising $24 million at a company value of $100 million.
Investors in the round include Goldman-Sachs ($5 million), and Telindus, the Belgian communications equipment distributor, which has placed a number of orders for Spearhead products during the past year. Comverse will invest $2 million more and Broadview Associates a further $1 million in Spearhead.
Spearhead was founded in 1998. The first investor in the company was investment bank Templeton, which invested $600,000. The company's first financing round was held in May 1999 and raised $2 million at a company value of $9 million, partly from Bank Leumi fund Technorov. Representatives of Japanese company Softbank added almost $2 million. The existing investors are also taking part in the current round.
Spearhead's AirGap product provides a perimeter between the part of the computer connected to the Internet and the part in which an organization keeps its data. Spearhead products compete directly with firewall manufacturers.
Published by Israel's Business Arena on August 1, 2000