Kennet Venture Partners LLC (“Kennet”), a leading international venture capital firm focused on the technology sector, today announces the closing of a $10 million round of preferred equity funding in Resilience Corporation (“Resilience”), a fast-growing manufacturer of ultra-high-availability security appliances. Kennet led this round and was joined by current investor Baring Private Equity Asia.
The new funding will be used to fuel rapid growth that began last year when Resilience launched its Ndurant® and Ndurant Express™ appliance lines for Check Point firewalls/VPNs. Resilience also released in the first quarter of 2006 their new NetSquad™ appliances for Websense Web security and Protak™ appliances for Check Point‘s Connectra SSL VPN application.
Eric Filipek, director of Kennet Venture Partners LLC in Foster City, CA, has joined the board of Resilience as a result of the investment. “Resilience represents a great example of a technology business that re-invented itself on a model of capital efficiency and is now thriving,” states Mr. Filipek. He adds, “This financing provides the capital to enable Resilience to now scale its sales and marketing infrastructure globally and continue its rapid revenue growth. The market for best-of-breed applications delivered via an open, hardened appliance is very large and fast growing. Resilience is well positioned and now well financed to be a leading player.”
Resilience president and CEO Dr. Theodore J. Marr stated “Last year was a time of innovation and rapid growth at Resilience. Besides the launch of three product lines that use our patented Integrated High Availability™ technology, we also launched our revolutionary Continuous Secured Ownership Warranty(SM) program that effectively eliminates hardware end of life from customers’ solutions. The new funding will let us build on the momentum we started last year to expand our market share and build value for our investors.”
Kennet Venture Partners is a leading transatlantic venture capital firm which invests in growth companies providing information technology products and business services that leverage information technology. Kennet provides expansion capital to firms that want to accelerate growth and build exceptional shareholder value in partnership with an experienced investor. Kennet Venture Partners acts as an advisor to Kennet II LP, a Guernsey limited partnership.
Resilience sets the standard for solutions that advance business continuity through its ultra-available technology for networks and its landmark Continuous Secured Ownership(SM) program that eliminates hardware EOL. Resilience has delivered innovative fault-tolerant and high availability network appliances since 1995. The company holds three key patents in fault-tolerant computing. Resilience partners with leading application providers to offer a growing family of High Availability solutions for: firewalls, Web security, SSL VPN, and others. Resilience is a privately held, venture-backed company with corporate headquarters in Mountain View, California and sales offices throughout the world.
Baring Asia specializes in providing expansion capital to rapidly growing middle market companies in Asia Pacific. Baring Asia currently has over US$ 800 million in capital committed for investment in Asia. Baring Asia has been a private equity investor in Asia since 1997 and has 20 investment professionals in offices in Hong Kong, Singapore, Shanghai, Delhi, Bombay and San Francisco.
Resilience, Ndurant, NetSquad, RESlink, iHA, and Continuous Secured Ownership are trademarks of Resilience. Other trademarks are the property of their owners. All rights reserved © 2006