Brightmail Closes $35 Million In Strategic Funding Print | Email This | Bookmark | Subscribe
Brightmail, Inc., a leading provider of mailwall solutions that enable service providers to manage and protect their email systems, has closed $35 million in strategic funding. This pre-IPO round was led by Symantec Corporation along with investments from Critical Path, Accel Partners, Technology Crossover Ventures, Crosslink Capital, Opportunity Capital, Thomas Weisel Partners, LLC, Bill Joy, Andy Bechtolsheim and Esther Dyson. Opportunity Capital and Thomas Weisel Partners, LLC are new investors.
"This strategic round of investment will help us launch our upcoming anit-virus solution and extend our sales effort to a wider range of ISPs and ASPs," said Gary Hermansen, CEO of Brightmail. "The fact that the leaders in the security and message management sectors -- along with several top tier VCs -- are investing in Brightmail is sure validation that we are on the right track with our solutions and market potential."
Symantec has invested $18 million in Brightmail, representing about half of the $35 million that Brightmail raised in a third-round of venture financing. This gives Symantec an 11 percent stake in the company. Earlier this year, the two companies created a joint anti-virus and anti-spam product.
For more information about Brightmail, Inc., visit the Web Site.
For more information about Symantec Corporation, visit the Web Site.