Secure Elements Completes Series B Financing Round Fueling Continued Growth
Security compliance leader expanding sales and marketing initiatives for 2007.
Herndon, VA (PRWEB) November 8, 2006 –- Secure Elements, Inc., a leader in compliance and vulnerability management solutions, today announced that it has completed a Series B Preferred round of institutional funding. Carlyle Venture Partners, the US venture and growth arm of The Carlyle Group, a global private equity group with over $44 billion under management, led this round. The funds will provide the foundation for expanding the company’s triple-digit growth experienced this year.
Secure Elements’ solution, C5 Enterprise Vulnerability Management (C5 EVM), is the only enterprise class product that supports XML standards (OVAL 5.0 and XCCDF) for compliance and vulnerability management - an industry first. With support from National Institute of Standards and Technology (http://nvd.nist.gov/scap/tools.cfm), these standards provide the IT industry the basis for security compliance benchmarks and assessments.
“Secure Elements is gaining significant traction with IT organizations that want to automate the resource intensive security compliance assessment task,” said Ned Miller, CEO of Secure Elements. “Our solution is poised to become the de-facto standard when an organization needs to dramatically simplify their ability to audit, evaluate, and comply with industry and regulatory IT mandates.”
“This Series B financing provides us with the additional capital needed to expand our sales and support infrastructure necessary to continue to deliver enterprise class products and services.” said Robert Kalchthaler, CFO of Secure Elements. “Additionally, the incredible response to our announcement of the Public Service License has validated the market demand for our security compliance solution and will be a key contributor to our continued growth in 2007.”
About Secure Elements
Secure Elements develops innovative products that help organizations achieve IT security compliance. We enable organizations to audit, evaluate, and comply with internal, industry, and regulatory policies. Our solutions reduce business risk and IT management costs while improving systems performance and maintaining business continuity. Based in Northern Virginia, Secure Elements serves organizations in the federal government and critical infrastructure markets, as well the Global 1000.
Contact:
Stephanie Stadler
On behalf of Secure Elements
703-287-7819
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