CipherOptics Gets $5M

CipherOptics secures $5 million funding from Kodiak Venture Partners to enable true Gigabit-speed data encryption

April 23, 2002

1 Min Read

RALEIGH, N.C. -- CipherOptics, a leading innovator of high-speed data encryption, announced today that it has closed $5 million in Series A funding commitments. The company’s first institutional round was led by Kodiak Venture Partners of Concord, Massachusetts, a venture capital firm focused on seed and early stage investments in emerging communications, semiconductor and software companies.CipherOptics will use the round to build future generation security products and to establish sales and partner channels for the CipherOptics Security Gateway, a high-performance network security appliance designed to enable the encryption of all data without diminishing network throughput even at full Ethernet Gigabit speeds."While security is continually of paramount importance in today’s marketplace, security solutions still must demonstrate a strong and quantifiable ROI to enterprise customers," said Ilan Carmi, a partner at Kodiak Venture Partners. "CipherOptics has created a security appliance that overcomes the historic price performance problems in high end data centers, high performance networks and storage network environments. The ability to encrypt all data without compromising network throughput at a reasonable price will make the CipherOptics solution very attractive to security-conscious companies."CipherOptics

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