infoTECH Feature

June 17, 2010

AlienVault Secures $4M in Funding

AlienVault Inc. has secured $4M in institutional round financing from Adara Venture Partners with further participation by Teldat Group and Neotec (News - Alert). The investment will fuel the company's market expansion in the United States.
AlienVault is a provider of Security Information and Event Management - SIEM - solutions and is poised for further growth and internationalization.
Adara is a venture capital firm, founded in 2003, which focuses on the development of companies in the Information Technology sector. Adara primarily targets Spain- and Portugal-based ventures, as well as ventures based elsewhere in Europe that are committed to developing significant operations in these markets.
'We are very pleased to have secured this vote of confidence from the venture capital community,' said Julio Casal, CEO of AlienVault. 'After successfully growing the company for the past three years this support will help us solidify our market leadership."
Since the founders originally wrote the Open Source (News - Alert) SIM in 2003, more than half of all SIEM installations worldwide have deployed the technology, the company said.
Casal along with co-founder and CTO Dominique Karg created AlienVault to support the growing OSSIM user base and to provide enterprise-level commercial products.
'We see incredible potential in AlienVault,' said Alberto Gomez of Adara Venture Partners. 'It is not often that you find a growing company that has established such a dominant market share so early and with such opportunity still lying ahead. We look forward to working with Julio and his team to realize the full possibility of AlienVault.'
'AlienVault is a fantastic investment opportunity in a company with cutting edge technology in security at a worldwide level and a wonderful opportunity to share ideas for new products, improve processes and to advance the international presence of both organizations," added Antonio García Marcos, president of Teldat (News - Alert).
Adara Venture Partners also took part in the funding of Openbravo.

Ed Silverstein is a contributing editor for TMCnet's InfoTech Spotlight. To read more of his articles, please visit his columnist page.

Edited by Juliana Kenny
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