Reconnex Gets $16M

MOUNTAIN VIEW, Calif. -- Reconnex, the expert in discovering both known and unknown electronic risks, today announced that it has received $16 million in Round C financing from August Capital and existing investors Norwest Venture Partners, Levensohn Venture Partners, and Outlook Ventures. To date, the company has raised a total of $37 million in funding, including Round C. Vivek Mehra, an August Capital general partner with extensive investment and entrepreneurial experience, has joined the Reconnex board of directors. Reconnex will use this latest round of funding to grow engineering and sales.

"There is a real market need for Reconnex's solution because of compliance, regulatory, and privacy issues that organizations face," said Mehra."Reconnex has a unique technical approach that is much more comprehensive than competing approaches, specifically its ability to monitor, record, and analyze multiple network protocols at gigabit line rates and to do forensic analyses on live and recorded network traffic and data."

"Demand for Reconnex's solutions has increased rapidly as organizations begin to understand the true extent of the threat that insiders pose to corporate data," said John Peters, CEO of Reconnex. "We've been successful in every vertical market we've entered -- including Fortune 1000 companies, government organizations, financial institutions, and healthcare providers-- and now we'll expand our sales force to get more coverage. The new capital will also help Reconnex build out its engineering organization and extend our lead as an innovator and visionary in the market."

Reconnex Corp.