Bit9 secures $34.5m Sequoia Capital-led financing


Sequoia Capital has made its first investment in internet security provider Bit9, leading a $34.5m financing round.

Existing investors Atlas Venture, Highland Capital Partners, Kleiner Perkins Caufield & Buyers and .406 Ventures also took part in the Series D round.

Bit9 said it would use the funding to develop new products and expand its sales and marketing.

Sequoia partner Mickey Arabelovic said, “The market has reached a clear inflection point where organisations of all sizes across all industries need a new approach to cyber security.

“Bit9 has emerged as a market leader with its trust-based security for endpoints and servers, and we’re excited to partner with them as they build an enduring business.”

Bit9 president and CEO Patrick Morley said, “This latest round of funding is the largest in the company’s history and underscores the support Bit9 has received from investors who understand the changing nature of the security market.

“It places a bet squarely on our vision and technology.

“It’s an exciting time as we are dramatically changing how organisations protect themselves from IP theft and advanced attacks by focusing on a trust-based approach.”

Silicon Valley venture firm Sequoia has announced it is raising $1bn across several new funds, including a specialist China vehicle.

The firm, which was an early backer of online giants Yahoo and Google, hopes to increase its attention on China with at least one specialist venture fund.

Copyright © 2012 AltAssets