Monday, September 25, 2006

PortAuthority Raises $18M

Palo Alto-based PortAuthority Technologies has closed a $18M round of venture capital. Funding came from New Enterprise Associates, and also included participation by prior investors Sequoia Capital, Greylock Partners, and Lexington Ventures. PortAuthority develops information leak detection software for controlling the transmission of sensitive data. The funding will go toward's the company's sales and marketing. Krishna Kolluri of NEA will join the firm's board as part of the funding.