Recourse Technologies Raises $11 Million in Series D Financing
REDWOOD CITY, Calif., May 6 /PRNewswire/--Recourse Technologies(TM), the leading provider of threat management solutions, today announced a strategic round of venture funding totaling $11 million. The round was led by Mesirow Financial's Private Equity Division with additional participation from major corporate investors including Itochu. Additional investors include Canaan Partners, Doll Capital Management (DCM), Intel Communications Fund and Menlo Ventures.
The investment will enable Recourse to expand product and market development activities in efforts to increase market share and extend its position as a leader in the rapidly growing threat management and intrusion detection markets.
"We were attracted to Recourse because of its exceptional management team, proven business model and leadership market position in advanced intrusion detection," said Tom Galuhn, Senior Managing Director of Mesirow Financial's Private Equity Division. "With its innovative security solutions and impressive customer base, we believe that Recourse is well-positioned for growth and profitability."
Recourse's threat management products have been deployed worldwide to protect many large enterprise and government organizations. The list of customers choosing to adopt Recourse's innovative products has grown to include key U.S. government agencies in the defense and civilian sectors, an extensive list of Fortune 500 corporations in technology, manufacturing, energy and communication industries, as well as many large organizations outside the U.S.
Recourse provides threat management products that enable secure and uninterrupted business operations, protecting an enterprise's critical assets. Recourse recently launched ManHunt 2.0, a sophisticated threat management solution that detects, analyzes and responds to malicious computer attacks including intrusions, internal hacking and denial of service (DoS) attacks in real time at gigabit speeds. Recourse also offers ManTrap*, a realistic and flexible network environment based on honeypot technology that provides an advanced warning system for identifying known and unknown internal and external security threats.
"At a time when investors are taking fewer risks, we are pleased to receive funding from new and existing investors," said Frank Huerta, president and CEO at Recourse. "Since the last round of funding we've secured numerous customers highlighting the need for an advanced threat management solutions that protect against both internal and external threats and preserve corporate assets."
Recourse has raised $28 million in funding in previous rounds of financing.
About Mesirow Financial
Mesirow Financial is a diversified financial services firm headquartered in Chicago. Founded in 1937, Mesirow is an employee-owned, private company with more than 700 employees in eleven offices across the country. The firm is well-capitalized with more than $11 billion in assets under management/custody and fiscal 2001 revenues of $197 million.
Mesirow Financial's Private Equity group has significant expertise in both partnership investing and direct investing. Its most recent investment product, Mesirow Private Equity Partners ("MPEP"), is an investment program that is comprised of both a fund of funds and a direct investment fund. MPEP is designed to provide investors with access to the top performing partnerships and direct investments in the marketplace while minimizing risk by creating a diversified portfolio of investments.
About ITOCHU Corporation
ITOCHU Corporation (www.itochu.co.jp), one of Japan's leading trading companies, has annual sales exceeding 12.1 trillion yen (approx. US$114 billion). Currently ranked 13th on Fortune Magazine's Global 500 list, ITOCHU Corporation has over 700 subsidiaries and associated companies worldwide and is engaged in a wide variety of businesses, including information technology, finance, textiles, construction, chemicals, real estate, aerospace, machinery, energy and food products.
About Recourse Technologies
Recourse Technologies* is the leading provider of threat management solutions that detect, analyze, and respond to both known and novel threats, including intrusions, internal attacks and denial of service attacks. With Recourse's advanced intrusion detection solutions ManHunt* and ManTrap*, businesses gain the time and information critical for enabling secure and uninterrupted business operations. To learn more about managing network threats, visit the Web site at www.recourse.com or call 1-877-786-9633.
NOTE: Recourse Technologies and ManHunt are trademarks and ManTrap is a registered trademark of Recourse Technologies, Inc. All other registered or unregistered trademarks are the sole property of their respective owners.
CONTACT: Paula Miller Maxfield of Nadel Phelan, Inc., +1-831-440-2412, or , for Recourse Technologies; or Kimberley Kasper of Recourse Technologies, +1-650-381-8135, or