Cloudmark raises $11 M

By SiliconIndia   |   Wednesday, 22 September 2004, 07:00 Hrs
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SAN FRANCISCO, CA: Vipul Ved Prakash founded Cloudmark Inc., the company that delivers the immune system for email, today announced that it received $11 million in its final round of funding from FTVentures, Presidio Venture Partners, a Sumitomo Corporation company, and its major initial investor, Ignition Partners. This investment will strengthen Cloudmark's already solid financial position, enabling the company to further fund research and development and expand its ability to meet the growing worldwide demand for innovative e-mail security solutions among enterprise, service provider, small business and consumer markets.

“Cloudmark is solving a real-life problem that plagues corporations around the world,” said Ben Cukier, Principal of FTVentures. “Its award-winning anti-spam product and its anti-fraud solution are the most innovative and effective technologies we have seen. We know from our limited partners, who are 38 of the world's largest financial institutions, how damaging this problem can be to a company and its customers, so we looked for the best technology and management team for a solution. Cloudmark is the answer.”

“This is a significant endorsement of our business model and technology advantage from world-class financial institutions and multinational corporations,” said Karl Jacob, CEO, Cloudmark.

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