“Prolexic grew more than 55% last quarter, and our growth rate should continue increasing throughout 2012. This Series B investment, while not necessary because Prolexic was profitable last year, will enable us to accelerate our growth."
Hollywood, Florida USA (PRWEB) February 08, 2012
Prolexic Technologies, the global leader in Distributed Denial of Service (DDoS) protection services, today announced that it has closed an US$8 million Series B investment led by Camden Partners, a Baltimore-based private equity firm. The additional funding will be used to support staff, network and service augmentation.
“Prolexic grew more than 55% last quarter, and our growth rate should continue increasing throughout 2012,” said Scott Hammack, Chief Executive Officer of Prolexic. “This Series B investment, while not necessary because Prolexic was profitable last year, will enable us to accelerate our growth and bring forward a number of strategic initiatives that will further solidify our global leadership position.”
According to a recent Gartner report, “DDoS mitigation services should be a standard part of business continuity/disaster recovery planning and be included in all Internet service procurements when the business depends on the availability of Internet connectivity. Any Internet-enabled application that requires guaranteed levels of availability should employ DDoS protection to meet those requirements.” 1
Jason Tagler, Principal at Camden Partners, said Prolexic fits the firm’s strategy of partnering with fast growing companies in specific markets. “Prolexic is the clear leader for DDoS mitigation and with the increasing frequency of attacks globally, demand for the company’s services remains strong. We look forward to helping the company fulfill its tremendous potential,” said Tagler. Effective immediately, Jason Tagler will join Prolexic’s Board of Directors as Camden Partners’ representative.
Details of Prolexic’s mitigation activities and insights into the latest tactics, types, targets and origins of global DDoS attacks are provided in quarterly reports published by the company. A complimentary copy of Prolexic's Q411 global report issued yesterday can be downloaded from http://www.prolexic.com/attackreports.
In 2011, Prolexic completed two financings led by Kennet Partners totaling US$15.9 million. “Prolexic has a proven management team, sustained revenue growth and a growing market opportunity. We are obviously very excited to continue supporting the company's global expansion,” said Gustavo Alberelli, Director at Kennet Partners and a member of Prolexic’s Board of Directors. “Camden Partners’ network of relationships and overall experience will be invaluable as Prolexic launches new Cloud security services and embarks on its next stage of growth in 2012.”
About Camden Partners
Founded in 1995, Camden Partners is one of the largest growth equity and investment management funds in the United States with more than US$700 million under management. Camden focuses on the technology-enabled business services, healthcare and education sectors. For more information, please visit http://www.camdenpartners.com
About Kennet Partners
Kennet is a leading international growth equity firm that invests in companies in North America and Europe. Kennet supports entrepreneurial technology businesses with expansion capital to accelerate growth and build exceptional shareholder value. Kennet is an experienced investor with approximately US$600 million in funds under management. http://www.kennet.com
Prolexic is the world’s largest, most trusted Distributed Denial of Service (DDoS) mitigation provider. Able to absorb the largest and most complex attacks ever launched, Prolexic restores mission critical Internet facing infrastructures for global enterprises and government agencies within minutes. Six of the world’s ten largest banks and the leading companies in e-Commerce, SaaS, payment processing, travel/hospitality, gaming and other at-risk industries rely on Prolexic to protect their businesses. Founded in 2003 as the world’s first “in the cloud” DDoS mitigation platform, Prolexic is headquartered in Hollywood, Florida and has scrubbing centers located in the Americas, Europe and Asia. For more information, visit http://www.prolexic.com.
Michael E. Donner
SVP, Chief Marketing Officer
+1 (954) 620 6017
1. Gartner, “Hype Cycle for Infrastructure Protection, 2011”, 8/10/11