infoTECH Feature

December 22, 2014

EdgeWave Gains $2 Million from Additional Series A Funding

EdgeWave, a San Diego-based cyber security firm, recently announced that it has closed $2 million in additional Series A equity funding. This round of financing, which was supplied by three investors, brings the company's total 2014 equity funding to $8 million.

TVC Capital, a growth equity firm in San Diego focused on investing in software companies as well as software-enabled service firms, supplied the largest portion of funding at $1.2 million. As TVC Capital is already an investor in EdgeWave, this brings its total preferred equity investment in the company to $7.2 million. TVC Capital purchased 3 million common shares through a tender offer in addition to the Series A Preferred Shares, demonstrating the company's unwavering confidence in EdgeWave's cybersecurity solutions.

"We continue to be excited about EdgeWave's cloud-based solutions and cybersecurity approach, and are eager to support the company's operational expansion," said Jeb Spencer, Managing Partner of TVC Capital. "Demand in the IT security space is intensifying, and EdgeWave now has the right level of expertise and operational scale to meet that need going forward."

Northgate Capital, a California-based private equity and venture capital investment firm focusing exclusively on alternative assets, contributed $500,000 to this round of funding, with the remaining $300,000 provided by Mr. Bill Baumel and his partners at RWI Ventures, one of EdgeWave's oldest investors showing support for nearly five years. RWI Ventures is a venture capital firm specializing in investments in the networking, semiconductor, software and life sciences sectors.

"The reasons for providing this additional investment are many," said Mr. Baumel. "The company is differentiated by its top former military cybersecurity expertise and security products that independent third-party testing has shown to be superior to the competition."

According to EdgeWave, this additional financing will be put towards expanding operations to meet the rapidly growing demand for the company's enterprise security solutions. EdgeWave's Enhanced Precision and Integrated Cyber Capabilities (EPIC) employs a mixture of artificial and human intelligence as well as Military-Grade cyber operations to ensure compliance with security policies and repel the world's most advanced cyberthreats.

The company's security solutions are renowned by thousands of customers and their millions of end users. A management team of experienced business leaders and cyberwarfare veterans, along with a set of dedicated professionals providing constant monitoring, threat detection and analysis from multiple operation centers, ensures EdgeWave's clients are always a step ahead of security issues and attacks.  


Edited by Maurice Nagle
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