Cisco Opens Its Wallet to Guardium
Database security vendor Guardium received a strategic investment from Cisco Systems. Cisco's investment occurred as part of a Series C strategic round totaling $6.3 million, which was led by Cedar Fund and Ascent Venture Partners, with additional participation from all existing equity investors including Stage One Ventures and Veritas Venture Partners. The latest round brings the total equity investment in the company to $21 million. The new funds will support sales growth and product development initiatives, according to Guardium.
Guardium develops a network solution for database security and auditing. By securing sensitive corporate information such as financial and personal identity data in real time -- and automating change controls and compliance reporting -- Guardium aims to reduce the cost of IT governance and compliance.
"This will allow us to significantly broaden our reach. We can now help even more enterprises safeguard their critical information, and save time and money while implementing key compliance and IT governance initiatives," said Ram Metser, Guardium CEO, in a release.