Armorize Technologies Secures Financing For Worldwide Business Development
Tallinn, Estonia, Santa Clara CA, USA, Taipei Taiwan, 16 June 2009 -- Leading Web application security provider Armorize Technologies has secured Up-Round Series-B financing. High profile investors include European Ambient Sound Investments (ASI), Pacific-Rim focused Birch Venture Capital, and Silicon-Valley based Armorize Series-A investors. The Series-B funds will drive business development, sales and marketing efforts worldwide.
The new funding validates Armorize’s position as a strong technical leader in Web Application Security. Armorize is the pioneer in Web application source code analysis, and leads the market in malware identification and monitoring technologies offered via a new Software-as-a-Service approach. “We are delighted to see the confidence that our investors have displayed,” said Armorize Founder and CEO Wayne Huang. “We are also very confident. The Web has given rise to a host of security concerns and Armorize provides a suite of technically advanced automated tools to combat them. This additional capital infusion at increased valuation represents a strong endorsement for our technology and vision.”
“Armorize has a highly-talented team of software security specialists who have developed a unique patented solution for source code vulnerability analysis,” added Margus Uudam, ASI’s Head of Private Equity Investments. “We believe their holistic approach to web-application security will give them a solid global market leader position.”
The funding also indicates the web application security sector’s strength. With Web 2.0’s growth, malicious parties are devising increasingly intricate means of exploiting corporate and personal information through vulnerable web applications. Industry has recognized this, and Armorize has built its product suite from the ground up to provide web application security across the entire SDLC.
Since launch, Armorize has seen rapidly ramping revenues and a growing global customer-base across Internet, Telecom, Government and Finance verticals.
About Armorize Technologies
Armorize Technologies is a software security company focused on web application security.
Integrating the award-winning CodeSecure™, HackAlert™ and SmartWAF™ platforms, Armorize Appsec Suite™ delivers end-to-end web application security.
The Armorize team has deep roots in web application security research, winning consecutive awards at the prestigious WWW Conferences. Subsequent recognition includes winning the Red Herring 100 award and being invited to the Dow Jones VentureWire Technology Showcase 2008. Armorize is headquartered in Santa Clara, CA with its R&D center in Taiwan’s Nankang Software Park. For more information, please visit www.armorize.com.
About Ambient Sound Investments
Ambient Sound Investments (ASI) is an investment group founded in 2003 with the objective of managing and investing the assets of Skype‘s four Estonian founding engineers. ASI primarily finances international start-up technology companies from its own funds. The company has financed dozens of technology start-ups worldwide: in Asia, the United States, Western and Eastern Europe, Finland, and Russia. Alongside portfolio investments ASI is working on its own ideas in ASI Incubator. For more information, please visit www.asi.ee.
Armorize Technologies Inc.