Open source security push gets $20m
Published: 02 Jun 2006 17:15 BST
Open source security vendor Sourcefire has secured $20m (£10.6m) in funding, the company announced on Friday.
The network intrusion prevention (IPS) vendor will use the funds to expand in Europe, recruiting country managers and security engineers in France, Benelux, Germany and Japan, and enlisting new channel partners.
Sourcefire is best known for its popular Snort open source IPS product.
Snort encountered security problems in October, with exploit code being published that demonstrated how vulnerabilities in a Snort sensor designed to detect an exploit tool called Back Orifice can be subject to a buffer overflow attack. Back Orifice is used by remote intruders to take control of compromised systems.
The funding was led by venture capitalists Meritech Capital Partners. All previous Sourcefire venture investors, Sierra Ventures, New Enterprise Associates, Sequoia Capital, Core Capital Partners, and Inflection Point Ventures participated in the round.
The IPS vendor claims the "capital will provide Sourcefire with both a 'bullet-proof' balance sheet and the resources needed to aggressively pursue new market opportunities and product innovations."
"We believe that this is the perfect time for Sourcefire to broaden its leadership in next generation network security. With this capital infusion we will be able to extend our technology innovations into attractive related markets while continuing to grow worldwide market share," said Wayne Jackson, chief executive officer of Sourcefire.
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