Mu Security bags $4 M in first round
Date: Wednesday , March 01, 2006
Mu Security, co founded by Ajit Sancheti and Kowsik Guruswamy has bagged $4 million in fresh capital from Accel Partners and Benchmark Capital. With the new round of funding, the company has come out of stealth mode.
A developer of a new product category for analyzing the security readiness of any IP based product or application; Mu Security was started in 2005. The company will use the funds to develop and market its security analyzer product which will be launched in March.
Talking about the VC interest in his company, Guruswamy says the company’s products helps vendors and enterprises with a more comprehensive, efficient and repeatable process that determines the security readiness of products and applications used in networks worldwide.
“Initial customers are leading service providers and Fortune 100 enterprise customers. These prospective customers recognize that defense-in-depth strategies are only part of the solution to achieving security. What makes Mu Security so intriguing to these customers is its unique approach to proactively exposing known and previously undetected security vulnerabilities in a wide range of products and applications well before they get deployed in production networks,” Guruswamy says about the customers.
The company is working in the space, which saw over $1.5 billion being spent in 2005. According to Guruswamy, the Sunnyvale, CA based company, with about 25 employees is facing competition from source code security analysis and vulnerability testing software for network perimeter devices makers.