Investment Banking
SAN FRANCISCO, California, March 5 /Catapult Advisors LLC announced today that it advised Cloudmark, Inc., the global leader in carrier-grade messaging security, in securing a new $23 million round of funding led by new investor Summit Partners and joined by Nokia Growth Partners, the venture capital investing arm of Nokia (NYSE: NOK), the world’s leading mobile phone supplier. Existing investors Ignition Partners and Industry Ventures also participated in the round. The new funding was used to assist in Cloudmark’s acquisition of Bizanga, Ltd. and is the first investment Cloudmark has raised since 2004.
“Today’s carriers must deploy the best defenses against emerging and sophisticated messaging threats,” said Hugh McCartney, chief executive officer, Cloudmark. “Our goal is to leverage the recently acquired messaging platform and Cloudmark’s proven world-class messaging security technology to provide the industry’s most powerful, unified messaging security solution for operators. We are delighted to have raised new capital from both Summit Partners and Nokia Growth Partners, and their support and global experience will help guide Cloudmark as we continue our growth into new and existing markets.”
“We are very pleased to lead this investment in Cloudmark to help support the expansion of the industry’s leading messaging security solution for high-performance networks,” said Greg Goldfarb, a principal with Summit Partners, who will join the Cloudmark Board of Directors. “At Summit Partners, we have been investing for 25 years in profitable, innovative leaders in the security software industry and it is always rare to find a company that is both a technology leader and service leader. The volume of messaging abuse and security threats continues to skyrocket across wired and wireless networks. Cloudmark’s technology increases the performance, reliability and security of its customers’ messaging infrastructure, while decreasing management costs, and Cloudmark’s service and responsiveness allows its customers to sleep well at night.”
“The need for carriers to protect their mobile networks against messaging attacks has never been more critical, and it is essential for ensuring a positive experience for their customers,” said John Gardner, managing partner at Nokia Growth Partners. “Cloudmark is uniquely positioned to capitalize on this demand based on its ability to deliver carrier-grade messaging security solutions with unrivaled accuracy, scalability and performance. Nokia Growth Partners invests in best-of-breed mobile services and technology companies with significant potential for future growth and industry leadership. Cloudmark fulfills that profile, and is in an excellent position to enable mobile communications service providers to reduce the complexity within their networks, grow their customer base and maximize revenues.”
