Red Condor Raises $7.7M

ROHNERT PARK, Calif. -- Red Condor, Inc., a managed service provider of comprehensive email security solutions, has raised an additional $7.7 million in Series A funding led by venture capital firms ATA Ventures and RWI Ventures, with a credit facility from Square 1 Bank.

This funding will be used to further develop the companys resilient email security technology. Red Condor leverages its ability to capture up-to-the-minute information about security threats coming from around the world, and then applies defensive measures in real time to protect the company’s client base. Red Condor’s unique technology blocks detrimental email while letting valid email through with near 100 percent accuracy, so users can be confident in secure and reliable mail delivery. This next generation technology is backed by a 24x7 customer care center staffed by email security experts at Red Condor’s headquarters.

Red Condor previously raised $2.8 million in the first phase of Series A funding that closed in June of 2006. The most recent Series A financing was finalized in July 2007 and includes $5.7 million in equity financing and $2 million in venture debt from Square 1 Bank.

“This is remarkable support from the venture capital community and Square 1 Bank for our differentiated solution in a very competitive market,” said Ron Longo, president and CEO of Red Condor. “It’s validation that our technology and strategic approach to resilient email security for businesses stand out as a superior value to both our clients and investors.”

ATA Ventures

RWI Ventures