Damballa has closed USD15m in growth funding to help accelerate sales and distribution through channels to meet the rising market demand for the Damballa advanced threat protection solutions.
Adams Street Partners is leading this funding round and is joined by existing investors, who added to their equity stake in the company. David Welsh, partner at Adams Street, will join the Damballa board.
“Adams Street Partners has been looking to invest in the growing network security market for some time, and we are excited to come on board with Damballa,” says Welsh. “We were intrigued by several aspects of Damballa’s business, including the technology, people and customer base. We realised that Damballa is truly defining the next generation of internet security. Damballa technology is unique in its approach to protecting organisations against targeted, zero-day and advanced malware threats. In addition, the talent and energy within the organisation is unparalleled.”
“We are delighted with the dynamic and experienced team that Adams Street brings to Damballa,” says Val Rahmani, chief executive of Damballa. “Companies in all industries urgently need a better way of protecting their enterprises and their customers. With significant innovations in our product and advances in our threat research capabilities, Damballa is clearly positioned to capitalise on the expanding market of advanced threat protection. Damballa has been executing on our growth strategy, and with this round of funding, we will be able to greatly accelerate marketing, sales and channel programmes.”