vFortress Announces Series A Funding from KVCF
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vFortress Announces Series A Funding from KVCF

By siliconindia staff writer   |   Tuesday, 16 November 2004, 08:00 Hrs
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BANGALORE: Bangalore headquartered vFortress Network Security Pvt. Ltd., a product company dedicated to offering secure, remote access to business applications and data, has announced series A funding from Kerala Venture Capital Fund (KVCF). As part of the first round, KVCF would contribute a total of Rs 20 million to vFortress. The new funding announcement comes close to vFortress’s recent plans to aggressively expand its business initiatives, strengthen its hold in the Secure Remote Access field and set up a development center at the Info Park, Kochi.

KVCF is a close-ended venture capital fund conceptualized by the Kerala State Industrial Development Corporation Ltd. (KSIDC), Kerala Financial Corporation (KFC) and Small Industries Development Bank of India (SIDBI) and is dedicated to investing in enterprises with high technological inputs such as Information Technology and Biotechnology primarily in State of Kerala.

vFortress is on the high growth path and had recently announced the global launch of its indigenously developed application security product suite – SPAN (Seamless Private Application Network). The product Suite was developed entirely out of the company’s Bangalore R & D Center.

Announcing the funding, Mr. Subash Warrier, CEO, vFortress, said, "The KVCF funding fulfills our capital requirements substantially and will fuel our aggressive growth plans. We are pleased that KVCF decided to invest in a product company rather than in "safer" services companies".

Said Mr. K A Joseph, Managing Director, KVCF, "We are happy to participate in vFortress’s growth at an early stage. We are impressed by the high quality Product Management at vFortress that has led to world-class software products being built out of India".

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