West Palm Beach, FL (PRWEB) April 25, 2006
Authentium, Inc, the leading provider of extensible security software technologies and service platforms, announced today that the company has completed a $15 million Series A financing led by Westbury Equity Partners of Long Island and Safeguard Scientifics, Inc. (NYSE: SFE) based in Pennsylvania. Several additional institutional investors also participated in the round, including Bahrain Middle East Bank, UOB Venture Management, Enspire Capital, and Industrial & Financial Investments Co.
The Company plans to use the funds to accelerate the development of its patent-pending Trusted Security eXtensions (TSX) data interception and analysis library, and extend its Extensible Security Platform (ESP) into new markets. Authentium’s Extensible Security Platform was designed specifically to enable service providers, such as carriers, ISPs and cable companies, to customize and embed security technologies from Authentium and other leading developers, such as antivirus, real-time antispyware, end point firewall, content filtering, and compliance monitoring, into their service offerings, for distribution to residential and small business customers.
Authentium’s licensees and distributors include Armstrong Cable, Bresnan Communications, CipherTrust, ClearWire, Cox Communications, Earthlink, iPass, L-3 Communications, Microsoft (Sybari), Millennium Digital Media, MX Logic, NetSweeper, Postini, Qwest Communications, RadialPoint, Riverdeep, Sunbelt Software and Synacor. Authentium technologies are distributed under license to residential and small business customers at Adelphia Communications, Bell Canada, BellSouth, NTL, Ono, Telus, and Verizon. Authentium’s technologies are used to scan more than three billion emails per week, and are currently deployed on more than seven million PCs and servers, worldwide.
“We are extremely pleased to have completed the financing of our expansion plan,” said John C. Sharp, Chairman and Chief Executive Officer of Authentium. “We’re also thrilled to be working with such an experienced and successful group of investors. We believe that they are the right partners to help us capitalize on what we believe is a significant market opportunity.”
“Westbury is very pleased to have co-led this investment,” said James W. Schubauer II, President of Westbury Equity Partners. “We believe Authentium is well-positioned to execute on its vision. They have an exceptionally strong technology foundation, an experienced management team, and a unique approach to sales and distribution. This is a great opportunity in a fast-evolving market.”
“Authentium is building a unique position in the emerging software-as-a-service market. Authentium’s Extensible Security Platform enables it to integrate and support virtually any software application, including proprietary applications, and better meet the requirements of service providers and network operators,” said John A. Loftus, Executive Vice President and Managing Director of Information Technology, Safeguard.
As part of this transaction, Joseph G. Fogg III, Chairman of Westbury Equity Partners, and Kevin L. Kemmerer, Senior Vice President at Safeguard Scientifics, have joined Authentium’s Board of Directors.
Based in West Palm Beach, Florida, Authentium develops core operating system encapsulation, file and application defense, data interception and data analysis technologies for inclusion in its flagship Extensible Security Platform (ESP). Authentium is the leading licensor of security software development toolkits to independent software vendors, software publishers, and security appliance manufacturers, and one of the fastest-growing privately-held companies in the security software industry, providing services to millions of end users in enterprise and government organizations, ISPs, and education institutions worldwide. For more information about Authentium, visit http://www.authentium.com.
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