Crossbeam Secures $21M

Crossbeam Systems announced that it has secured $21 million of private equity financing

May 8, 2007

2 Min Read
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BOXBOROUGH, Mass. -- Crossbeam Systems®, Inc., the leader in Unified Threat Management (UTM) for the world’s largest networks, today announced that it has secured $21 million of private equity financing. The financing was led by Boston-based Tudor Investment Corporation and joined by Crossbeam’s existing investors, including Charles River Ventures, Commonwealth Capital Venture Partners, Focus Ventures, Intel Capital, Matrix Partners, North Bridge Venture Partners and Tudor Ventures.

“Crossbeam has shown impressive momentum and innovation in the last year. Their business and technology strategies are clearly in line with market demand, and the leadership they’ve established as a high-end UTM provider makes their prospect for continued success outstanding,” said Rob Broggi, director of technology research at Tudor Investment Corporation. “We are excited to be involved with a company poised for tremendous growth in the dynamic market for network security products and services.”

Ranked by IDC for eight consecutive quarters as the number one leader in high-end UTM, Crossbeam’s fiscal year 2006 was its strongest year to date in terms of revenue and customer growth, underscoring the company’s continued dominance in this market.

The new funding will enable Crossbeam to expand its global sales and marketing efforts, grow its distribution channel, continue to innovate through product development and support its customers with a world-class organization.

“We are thrilled with the vote of confidence we have received from Tudor Investment Corporation and our existing investors,” said Peter George, president and CEO of Crossbeam Systems. “We are now entering a stage where our unique capability for delivering best-of-breed security services – proven through deployments in the world’s largest network environments – has converged with where the security market is heading, making this an extraordinary time in Crossbeam’s history. We anticipate this investment will help drive our global expansion and product development as we open our company to more opportunities.”

Crossbeam Systems Inc.

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