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Intel, Trident Capital lead $30m Series C round for Prolexic Technologies

25 Jul 2013

server5_lrg1Intel Capital and Trident Capital have joined existing investors in helping online security business Prolexic Technologies close a $30m Series C financing round.

Kennet Partners, Camden Partners and Medina Capital all took part in the funding round, which comes as the company’s year-on-year revenues have increased 65 per cent while remaining EBITDA positive.

Trident managing director Gustavo Alberelli, who will join the Prolexic board of directors, said, “For the past two years, I have seen companies and government agencies around the world repeatedly select Prolexic for distributed denial of service protection, cementing the firm’s position as market leader.

“I’m excited to continue working with Prolexic management and providing Trident’s IT security expertise to help Prolexic continue its rapid expansion.”

Last week Growth equity firm Summit Partners invested $10m in online security business RiskIQ through a Series A funding round.

The deal marked the first institutional capital RiskIQ had accepted since it was launched four years ago.

RiskIQ uses a global proxy network spanning nearly 40 locations to monitor key websites and mobile applications which sit outside of corporate control.

Trident made a significant expansion of its team in October last year by hiring four new staff to strengthen its finance organisation and growth equity investments.

Michael Derrick, who was previously CFO for Thomas Weisel Partners’ private equity funds, became vice president for finance and has more than 18 years of experience in fund accounting and administration.

The California-based firm, which focuses on software, internet and business services sector, also took on Andy Cao, Feng Hong and Will Lin as associates to add depth to its investment team.

Cao joins from Citigroup’s global banking division, Hong from Gridley & Company and Lin from Citibank’s investment banking arm.

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