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Mu Security Lands $10M

Light Reading
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Light Reading
6/27/2006
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SUNNYVALE, Calif. -- Mu Security, a pioneer in the new security analyzer market, today announced the company has raised an additional $10 million in a Series B funding round. Mu 's second round of financing was led by Duff, Alderman & Goodrich Ventures (DAG Ventures) and includes Series A investors Accel Partners and Benchmark Capital, bringing Mu Security's total funding since inception to $14 million. Early customer acceptance of Mu's approach to operationalizing security by large enterprises, service providers, product hardware or software developers and government agencies has accelerated this Series B round of funding.

Coinciding with today's funding is the appointment of Amnon Landan, 2003 Forbes Entrepreneur of the Year and former chairman and CEO of Mercury Interactive, to Mu Security's board of directors. Mu Security is also bolstering its executive management team with the strategic additions of Robert Geiger as vice president of engineering and Adam Stein as vice president of marketing. Prior to joining Mu Security, Geiger was a senior director of product delivery at Symantec (NASDAQ:SYMC), managing the development of the company's intrusion protection solutions. Stein was previously vice president of marketing programs with Fortinet, the market leader in multi-threat security systems.

"With only $4 million raised in our Series A round, Mu Security has successfully launched the industry's first Security Analyzer, secured early revenue-generating customers, and has established the company as one of only 10 Startups to Watch in 2006 by Network World," said Ajit Sancheti, CEO of Mu Security. "Customers are adopting the new security analysis methodology to verify the security readiness of any IP-based product or application during design, development and before production network deployment. The broad applicability of our product offerings is a major catalyst for the latest round of funding which will accelerate Mu's sales and marketing efforts to extend our leadership in the emerging security analyzer market."

Mu Security is pioneering the new security analyzer market and is shipping the first commercially available systems that deliver a systematic and repeatable process for detecting known and unknown vulnerabilities in any IP-based application or device. One of the significant features of the Mu Security Analyzer is ethical attack mutations based on a patent-pending methodology called Protocol Spidering(TM). This methodology generates millions of highly targeted permutations of improper or illegal protocol behaviors allowing customers to identify and remediate security vulnerabilities and robustness problems. The Mu-4000's extensible platform-based approach easily incorporates new security analysis applications to Mu Security's existing analysis suite, ultimately offering higher levels of product security and robustness to end user and developer customers.

"The problem of product security is widespread. Without a systematic approach to reduce vulnerabilities for the coming IP device explosion, increased spending on point security products will continue to be an ineffective approach," said Landan. "The company packages a compelling security analysis suite whose underlying process provides immediate security relief for developers, service providers and enterprises alike."

Mu Security Inc.

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