Enterprise anti-spyware software vendor Webroot Software has raised $108 million in a first round of funding.
The Boulder, Colo.-based Webroot Software Inc. said the round was led by TCV (Technology Crossover Ventures), a venture capital firm with a track record of big-name investments. Accel Partners and Mayfield also participated.
Jake Reynolds, a general partner at TCV, will assume the chairmanship of Webroots board of directors. Another general partner, John Drew, also will sit on the board.
Webroot, which markets the highly rated Spy Sweeper Enterprise product, said the $108 million cash injection is the first outside investment since the companys launch in 1997.
"This investment clearly confirms that the anti-spyware market is a high-growth market," Webroot chief executive David Moll said in an interview with eWEEK.com.
"[This is] a bet on our future leadership in thwarting the dangerous emergence of spyware in enterprises around the world."
Moll said proceeds from the investment will speed up the companys go-to-market strategies in enterprise spyware and other security products, as well as rapid expansion into new international markets.
By the second quarter of this year, Webroot plans to open a satellite office in Tokyo. "Were very excited about expanding into Asia to grow our global footprint. We expect to add another 100 employees over the next 12 months," Moll said.
In addition to the United States, Webroot currently has offices in the United Kingdom, Germany, France, Italy and the Netherlands.
The company recently rolled out a new version of Spy Sweeper Enterprise with new features to improve load balancing and bandwidth conservation for definition and software updates.
Since its launch in June 2004, Spy Sweeper Enterprise has been deployed in more than 3,500 corporations and large institutions.
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