Cash Pours In for E-Mail Security Vendors
IronPort Systems announces a $45 million funding round, while competitors CipherTrust, FrontBridge Technologies and others also rake in the dollars to strengthen a technology analysts say is maturing quickly.Continuing a hot streak for e-mail security vendors, IronPort Systems Inc. on Monday announced a $45 million funding round. The San Bruno, Calif., company is just the latest recipient of venture capital this year in a space thats growing up quickly. "Were starting to see some maturation of the technology," said Jonathan Penn, an analyst at Forrester Research Inc. of Cambridge, Mass. "These are very good products at catching spam, and now its more about greater messaging securitybeyond content scanning and into compliance, policy enforcement or outbound security." As enterprises scramble to implement the most effective security solutions, VC (venture capital) firms have scrambled to pump cash into the market. IronPort competitor CipherTrust Inc. of Alpharetta, Ga., closed a $42 million round in March.
FrontBridge Technologies Inc., based in Marina del Rey, Calif., received another $10 million in August, while Denver-based MX Logic Inc. closed $11 million last month.