Skybox Security, which develops corporate IT security risk assessment software, today announced that it had secured $6 million in second round equity financing. The round was led by Lightspeed Venture Partners, with participation by current investors Benchmark Capital, Carmel Ventures, and Mofet Technology Fund.
The company said that the funds would be used to build a strong sales and marketing infrastructure for its products. Skybox says it is currently recruiting sales and marketing executives in the US, as well as other senior customer facing professionals. The company also announced that Ravi Mhatre, General Partner, Lightspeed Venture Partners, would join Skybox Security’s board of directors.
"Skybox Security is developing exciting products based on innovative technology that will enable corporations to continuously assess and analyze security risks in their IT infrastructures”, said Mhatre.
“Skybox Security's products address critical security considerations for IT managers today: new vulnerabilities and threats are being discovered on a daily basis. Skybox Security’s unique offerings help enterprises close the gap between the pace of those new risks and their ability to quickly mitigate potential damages", said Skybox Security's CEO Gidi Cohen,
Skybox Security was founded in 2002 by Gidi Cohen, former CEO and co-founder of Vigil Technologies, Moshe Meiseles, former senior VP development of Memco (acquired by Computer Associates), and Eran Reshef, founder of Sanctum. It has its headquarters in Burlington, Massachusetts, and its research and development center in Herzliya Pituah, Israel.
Lightspeed Venture Partners manages $2.3 billion in funds and focuses on early stage investments in the software and communications sectors. Among its companies are AirGate PCS, Brocade Communications Systems, Federal Express, Galileo Technology, Genesys Telecommunications Laboratories, Informatica, Quantum Effect Devices, Sirocco Systems, and Vantive.
Benchmark Capital’s portfolio includes companies such as Ariba (Nasdaq: ARBA), eBay (Nasdaq: EBAY), Handspring (Nasdaq: HAND), Juniper Networks (Nasdaq: JNPR) and Red Hat (Nasdaq: RHAT). Benchmark manages more than $2 billion in committed venture capital.
Carmel Ventures has $170 million under management. It invests in Israel, Europe and the US.
Mofet is a publicly traded venture capital fund, listed on the Tel Aviv Stock Exchange. Its portfolio includes Breezecom/Alvarion, Enigma, Identify, Mainsoft, Mercado, Morecom (Liberate), NetformX, Netro, Orckit, Precise, Sanctum, Smartlink, Vcon, Virtio, and Vocaltec.
Published by Globes [online] - www.globes.co.il - on May 5, 2003