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Edison Ventures invests in eSentire

Edison Ventures has made a USD5.5m investment in a USD7m total financing round in Ontario, Canada based eSentire.

 
Existing investor VentureLink joined Edison in the round.
 
The proceeds will be used to increase sales and marketing, expand product development to address markets beyond financial services eSentire combines behaviour-based technology with seasoned security professionals to provide a unique managed services offering. To date, the company has focused exclusively on serving the financial services market, specifically hedge funds. With Edison’s investment, eSentire will continue to penetrate the hedge fund sector and, expand into other markets.
 
Lenard Marcus, Edison principal who led the investment, says: “eSentire’s behavioural based technology and focus on monitoring the network continuously enables the company to provide advanced cyber security. We were most impressed with the company’s focus on 24/7 network monitoring and tracking employee behaviour. Many companies have learned that their greatest threats come from internal, ‘trusted’ staff. Companies across all industries require a solution such as eSentire’s given the heightened threat of cyber crime and the advances hackers have made.”
 
eSentire’s chief executive JP Haynes says: “eSentire is a rapidly growing company with a unique value proposition. We are excited to have Edison on board.  In additional to the financing, their understanding of the marketplace and deep network will enable us to accelerate our go to market activities and add depth to the product and executive management team.”
 
eSentire will join Edison’s Enterprise 2.0 investment sector which encompasses enterprise software, cloud computing, SaaS applications, storage systems and data analytics. Notable exits include Best Software, E-Transport, POMS, and Visual Networks. Other recent investments in this sector include CallCopy, a provider of contact centre software, and KEMP, a provider of application delivery and control software to the small and medium business segment.

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