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Britestream Secures $10M

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10/18/2005
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AUSTIN, Texas -- Britestream Networks, the leading provider of hardware-based data privacy solutions, today announced it has secured $10 million in a third round of financing. The Series C round was led by Austin Ventures and also included participation from Granite Ventures, Seed Capital Partners, Technology Association Management Company, Chisholm Partners, Parker Price Venture Capital and other existing investors. Britestream will use this latest round of funding for continued product development and expansion of the company's sales efforts.

Britestream's solutions help to address today's top security concerns -- data privacy and regulatory compliance -- by providing a secure, scalable and simple solution for processing SSL-encrypted network traffic.

The company has experienced increased adoption of its solutions by customers from the financial services, e-commerce and government sectors. Britestream's solution is unique in offering a plug-and-play security Network Interface Card (NIC) that provide 100 percent SSL offload to the server or the network edge device in which it is installed.

"We experienced strong growth and steady product adoption in the first three quarters of 2005 and are looking forward to continued success for the remainder of this year and into 2006," said Bob Weinschenk, president and CEO of Britestream. "We believe that our commitment to meeting the data security challenges of today's organizations and continued product innovation are the foundations for our success."

Britestream Networks Inc.

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