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Vontu increases total funding to $25M with additional $10M in third round
March 21, 2005
SAN FRANCISCO -- Vontu Inc., the leader in Data Loss Prevention solutions, today announced that it has completed its Series C round of funding, a $10 million round led by two new investors: GM Capital Partners I, L.P. and First Plaza Group Trust. All previous investors, including Benchmark Capital, Venrock Associates and U.S. Venture Partners participated in the round. To date, Vontu has raised $25 million in funding.
The funds will be used for global expansion of its sales, marketing and services capabilities and extension of Vontu's market-leading data loss prevention solutions. This new round of funding demonstrates continued investor confidence in the Data Loss Prevention market and in Vontu's vision of protecting corporate, classified, and consumer data from the Insider Threat. Vontu helps global 1000 companies and government agencies reduce risk, protect brand reputation and demonstrate regulatory compliance.
"The rise of identity theft and the billions of dollars it is costing businesses is just one example of how difficult it can be to protect information in our connected world today," said Charles Froland, Managing Director of General Motors Investment Management Corporation's Private Equity Group, which with an affiliate advised the two new investors on the Vontu investment. "Vontu is a leader in this market with the strength of its product capabilities and list of impressive and extremely satisfied blue-chip customers."
"The addition of these new investors to our group of valued investors is a significant validation of our market leadership," said Joseph Ansanelli, CEO of Vontu. "This additional funding enables us to extend our leadership through increased investment in our team and unique solutions in Data Loss Prevention."
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