| Red Herring reports investment into VoIP Security firm |
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| Written by Administrator | |
| Monday, 05 June 2006 | |
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Covergence, a security firm focused on protecting VoIP services, said Friday it raised $15 million in funding in a move that shows venture capitalists are on the prowl for startups that help tackle security threats on VoIP networks.
The company raised its third round of funding from new investor Globespan Capital partners, and existing investors Highland Capital Partners and North Bridge Venture Partners. Formed in late 2003, the Maynard, Massachusetts-based company specializes in scaling, securing, and controlling VoIP and other real-time services like instant messaging based on a technology standard called the Session Initiation Protocol (SIP). The latest investment brings the total funding in the company to $31 million. Covergence hopes to use the additional resources to develop new sales and marketing opportunities, expand its sales channel strategy, and extend its geographic footprint into international markets. Full article here |
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