Investee Company – Webscreen Technology (UK)
Investee Company Business Type – Internet infrastructure technology developer
Type of Financing – Development
Equity Providers – Saffron Hill Ventures, and East River Ventures
Equity Leader (Individual) – N/A
Debt Providers – N/A
Debt Type – N/A
Debt Leader (Individual) – N/A
Equity Amount – $1.4 million (euro1.53 million)
Total Deal Value – $1.4 million (euro1.53 million)
Other Advisors – N/A
Comments – Webscreen Technology, a company engaged in the development of infrastructure appliance technology, has secured $1.4 million in its latest round of financing.
The funding has been provided by Saffron Hill Ventures and East River Ventures, who as part of the deal will both be represented on Webscreen’s board of directors.
Founded in 2000 by Internet security expert Gary Milo, Webscreen has developed innovative and novel technology to defend websites against the serious threat of Distributed Denial of Service attacks (DDOS). DDOS is a new breed of attack which has already disrupted top Internet sites such as Yahoo, eBay, CNN, Microsoft and, more recently, Network Associates.
Webscreen has created a new and highly effective three phase solution to the DDOS problem that for the first time will allow IT managers to deploy plug and play devices in front of their mission critical Webservers. Proceeds from this investment round will be used to complete Beta testing and take the Webscreen product to market by the end of the year.
Gary Milo, chief executive officer of Webscreen, commented: “The present funding will enable Webscreen to develop specific product families based on its patent-pending technology, and to initiate its worldwide growth plans.”