November 3, 2008
Palo Alto Networks Attracts Additional $10 Million in Venture Funding
Palo Alto Networks today announced that it has attracted an additional $10 million in venture financing. Led by JAFCO Ventures, the funding also includes investment from JAIC and Northgate Capital. The capital expands the company's Series C round, announced in August, to a total of $36 million, and brings the overall investment-to-date to $64 million.
Palo Alto Networks is among the most strongly funded young companies in the security and network infrastructure sector. It continues to establish itself as the leader in firewall innovation, defining the next-generation technology by delivering unmatched visibility and control of applications and threats for enterprise networks. The company's advancements were recently recognized as part of the prestigious Wall Street Journal 2008 Technology Innovation Awards.
"The Palo Alto team has created a must-have product for next-generation network protection," said Joseph Horowitz, managing general partner of JAFCO Ventures. "We are excited to be involved with the company and look forward to supporting its' growth into a major firewall solutions provider on a global level."
"We are pleased that even in this time of market uncertainty, Palo Alto Networks has been able to attract quality investors," said Lane Bess, CEO of Palo Alto Networks. "This is further validation of our core value proposition as a true leader in firewall and security innovation. Even as the economy slows down and budgets tighten, more than 100 customers have embraced our solution and our momentum continues to grow. This new capital will ensure sufficient funding to achieve a significant presence in the market and achieve profitability."
About Palo Alto Networks
Palo Alto Networks(TM) enables visibility and policy control of applications and content running on enterprise networks. Based on innovative App-ID(TM) application classification technology, the Palo Alto Networks family of next-generation firewalls accurately identifies applications - regardless of port, protocol, evasive tactic or even SSL encryption - at 10Gbps with no performance degradation. Enterprises can now set and enforce application usage policies to meet compliance requirements, improve threat mitigation and lower operational costs. For more information, visit www.paloaltonetworks.com.
Palo Alto Networks, the Palo Alto Networks Logo, App-ID, FlashMatch and PAN-OS are trademarks of Palo Alto Networks, Inc. in the United States. All other trademarks, trade names or service marks used or mentioned herein belong to their respective owners.