Addamark Secures Additional $9 Million in Funding; Company Demonstrates Momentum With Increased Customer Adoption for Its Unique Total Information Security Solution

Funding Rounds

▤ Summary

"Recent regulations such as the GLBA, HIPAA and Sarbanes-Oxley are driving the need for collection of log data from all systems and applications to enable companies to conduct investigations thoroughly and cost effectively. "Canaans investment is further evidence of the value we are delivering to customers today," said Mark Searle, founder and CEO of Addamark. Canaan Partners specializes in early stage venture capital for communications, information technology, and life sciences companies. Canaan Partners has backed CombinatoRx, Commerce One (CMRC), Concord Communications (CCRD), Copper Mountain Networks (CMTN), DexCom, DoubleClick (DCLK), Immunicon, ONI -- acquired by Ciena Corp. (CIEN), Praecis Pharmaceuticals (PRCS), Recourse Technologies -- acquired by Symantec (SYMC), and Revivant, along with dozens of other market-leading companies. With Addamark, enterprises can store and correlate log data from multiple sources and run ad-hoc queries to analyze user behavior and network activity to the highest granularity.

$ Funding

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Amount $9.0M Total raised
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Date July 28, 2003 Announcement date
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Investors Mozilla Foundation, Microsoft Accelerator - Tel Aviv, Canaan Partners Lead investors
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Company http://www.ignitetech.com Funded company

▥ Classifications

industries
Media and Publishing
applications
Anti Piracy

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▦ Linked Companies

Mozilla
$250M to $500M