Network Chemistry Snags $6M

Network Chemistry closes new VC investment round

April 14, 2005

1 Min Read

MENLO PARK, Calif. -- Network Chemistry Inc., the leader in wireless network intrusion protection and analysis systems announced today that it has closed a venture capital financing round, led by Geneva Venture Partners, joined by Innovacom, the investment arm of France Telecom, and In-Q-Tel, the investment arm of the U.S. Central Intelligence Agency (CIA), securing in total $6 million. The proceeds will be used to accelerate sales and marketing efforts for Network Chemistry’s RFprotect, a product family of distributed and mobile wireless intrusion protection systems for enterprises of all sizes. RFprotect is the leading intrusion protection system in terms of total volume of sensor agents shipped by the company and its licensees.

In addition to the investment, the company is announcing new additions to its board of directors, including Robert Troy, Managing Director of Geneva Venture Partners, Aymerik Renard, Managing Director of Innovacom, and Lou Ryan, former CEO of Entercept Security, who will act as Executive Chairman. The new board members are joined by existing directors Robert Markovich and Chris Waters, Network Chemistry’s CEO and CTO.

“I am continually impressed by what Network Chemistry has accomplished since its 2002 inception,” said Robert Troy. “The company has a rare combination of proven business executives and truly ground-breaking technology. The founding team brings great enthusiasm, expertise, and dedication toward this market. We fully believe in their vision, and their ability to definitively resolve the security bottleneck limiting enterprise adoption of wireless.”

Network Chemistry Inc.

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