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CommentsBarracuda Networks, Inc., a provider of enterprise-class spam firewall solutions, announced that after shipping product for two years it has closed its first outside investment of $40 million from Sequoia Capital and Francisco Partners. Sequoia Capital, which has provided financing to Cisco Systems, Google, Netscreen, and Yahoo!, is widely viewed as the world's preeminent venture capital firm.
Francisco Partners, whose founders include technology investment banking pioneer Sandy Robertson, is a leading private equity firm with tremendous experience in financial and deal structuring.
"Sequoia Capital and Francisco Partners have a wealth of experience from their hundreds of successful companies that will be valuable as we take Barracuda Networks to the next level," said Dean Drako, president and CEO of Barracuda Networks.
"Barracuda Networks' delivery of powerful and easy to use security solutions to over 30,000 customers, while maintaining profitability, made partnering an easy decision for us," said Sameer Gandhi of Sequoia Capital.
"Barracuda Networks has quickly emerged to a market leading position in the rapidly growing security appliance market," said David Golob of Francisco Partners. "We are delighted to be partnering with the company as it continues to expand into adjacent markets."
Barracuda Networks flagship product, the Barracuda Spam Firewall leverages a powerful combination of open source spam and virus solutions in conjunction with ten defense layers to provide complete email protection. Prior to the Barracuda Spam Firewall launch in 2003, businesses seeking spam protection were reliant upon complex software or third party filtering services that were expensive and often challenging to manage across the network.
Barracuda Networks also provides the Barracuda Spyware Firewall, the first true comprehensive anti-spyware and Web filtering gateway appliance, and the Barracuda IM Firewall, the only all-in-one instant messaging appliance.
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