Code Green Networks Receives $15 Million in Oversubscribed Series C Funding; Company Has Raised $32 Million to Date
Summary
"U.S. companies lose as much as $150 billion each year from unauthorized information leaks that occur from within their organizations," said Sreekanth Ravi, cofounder, chairman, president and chief executive officer of Code Green Networks. "Across all industries, organizations are increasingly recognizing that unauthorized disclosure of confidential information causes tremendous financial loss and irreparable damage to a companys image, brand and customer loyalty," said Tim Guleri of Sierra Ventures. "Code Green Networks will fill a huge need in the enterprise content security market, and we are pleased to support its next stage of expansion." Bay leverages the operating background of its partners and its extensive network of executives and advisors to help outstanding entrepreneurs create the leaders in new high growth market segments. Notable successes from Bays portfolio include Brocade, Concord Communications, Digital Island, Exodus, SonicWALL, Placeware, Informatica, Web Logic (BEA) and NetScaler.
