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Oakley Networks Secures $12 Million in Series B Funding SALT LAKE CITY, Utah – August 1, 2006 – Oakley Networks, Inc., the leader in Information Leakage Detection and Prevention (ILDP), today announced that it has secured $12 million in Series B funding from new investor Duff Ackerman & Goodrich Ventures (DAG Ventures). The company also announced the addition of Tom Goodrich, co-founder of DAG Ventures, to its Board of Directors. “DAG Ventures recognizes that Oakley Networks offers the most comprehensive ILDP solutions available on the market today and that this investment will help accelerate our path to commercial market leadership” said Derek Smith, CEO of Oakley Networks. “Enterprise customers want and need complete visibility into their risk from insider threats, and only Oakley Networks can offer that today.” Oakley Networks develops solutions that detect and eliminate insider threats across all channels of digital information. Sophisticated analytics engines and monitoring filters can track both centralized and mobile workforces, cover all major information leakage channels (email clients, encrypted data, USB drives), and analyze even encrypted traffic for sensitive information leakage. The Series B financing round will be used to accelerate and expand the company’s commercial sales and marketing efforts, and enable strategic technology acquisitions to expand its current insider threat solution offerings. “DAG Ventures targets investments in companies that have class-leading technology that has been tested and proven in mission critical environments,” said Tom Goodrich, co-founder of DAG Ventures. “Oakley solutions have been battle tested in large scale network deployments that will easily meet or exceed the requirements of any Fortune 1000 or government enterprise network”. Before co-founding DAG Ventures, Goodrich was a principal at Bechtel Investments, where he was responsible for overseeing a number of management buyouts and special situation investments. Prior to Bechtel, he was a co-founder and Vice President for Dimensional Corporate Finance, Inc., a specialty corporate finance company with significant financial backing from Xerox. Goodrich has also served as an independent consultant to the office of the Chairman of Bank of America and as a consultant with the Stanford Research Institute. About Duff Ackerman & Goodrich Ventures (“DAG Ventures”)
About Oakley Networks Founded in 2001, Oakley Networks is privately-held, with offices in Silicon Valley, Salt Lake City, and Washington DC. In addition to DAG Ventures, the company is backed by Kleiner Perkins Caufield & Byers and Fidelity Ventures. For more information visit www.Oakleynetworks.com. Press Contact: |
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