PortAuthority recently announced that it has raised Series C financing of $13.4 million. Greylock Partners and Sequoia Capital led this round with existing investor Lexington Ventures also participating. This funding will be used to expand sales, support and development staff. The announcement was made at the Gartner IT Security Summit 2005, in Washington, DC, June 4-6.
Additonally, PortAuthority Technologies will also relocate its headquarters to Silicon Valley, Calif.
Pete Foley, a seasoned enterprise and security software entrepreneur, joins PortAuthority Technologies as president and CEO. Foley is the chairman of the board at Infoblox and recently served as chief executive officer of Infoblox, a successful security start-up backed by Sequoia Capital and Lehman Brothers. Foley will also serve on PortAuthority Technologies' board of directors.
Asheem Chandna from Greylock Partners and Shmil Levy from Sequoia Capital will be joining the company's board of directors.
PortAuthority Technologies also revealed the following additions to the executive team:
- Raj Dhingra is vice president of marketing and business development. Dhingra was formerly senior vice president of marketing for McAfee, where he led the McAfee IntruShield family of network IDS/IPS products, acquired from IntruVert Networks, to become the No. 1 worldwide market share leader. He brings more than 15 years of marketing, business development and general management experience to PortAuthority Technologies.
- Dan Phelan is vice president of sales. Phelan brings more than 15 years of networking and security experience to PortAuthority Technologies. He was most recently at RSA Security, a leading provider of cryptographic and security solutions. While at RSA, Phelan held various leadership and management positions in both enterprise and OEM sales where he contributed to the growth of the company from $84 million to more than $300 million in revenue.