Sygate Secures $17.5 Million in Funding
by Berislav Kucan - Tuesday, 26 November 2002.
Californian privately owned company Sygate Technologies, well known in the information security circles for their Sygate Secure Enterprise solution, announced that it has received $17.5 million in funding.

This venture capital round was led by Trident Capital, with further participation by Trinity Ventures, meVC Draper Fisher Jurvetson Fund I and CIR Ventures.

Peter Meekin, Managing Director Trident Capital said: "We are very impressed with Sygate as it builds on its reputation for innovative products that address the absolute fundamental need for security in today's enterprise. Based on the strength of its product, management team, and brand-name customers, we are confident that Sygate will continue to lead the market and will achieve further financial and technological success."

In an e-mail interview for Help Net Security Jon Brody, VP of Marketing at Sygate, said: "With sales to the worlds largest enterprises and governments, our technology and approach to enterprise security was publicly proven. Support from the industry analyst community and our partners was another important milestone achieved. Finally, the resounding approval of our business by the investment community was the proverbial icing on the cake."

When asked about some possible new products, Mr Brody noted: "We make it a practice of holding off discussion about our new products until they are released to the market, but customers can expect Sygate to continue to help them make their investments in the Internet and new Internet technologies safe to use."

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