Cisco, Others, Invest Millions in Virtualization Security Startup

Posted 02/26/2010 at 5:36am | by Paul Lilly

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Virtualization security startup HyTrust has plenty of reason to celebrate - 10.5 million reasons, one for each dollar Cisco and several other investors have handed over to the company, InfoWorld reports.

HyTrust, winner of VMworld's "Best in Show" last year, already had $5.5 million in venture capital work with. This second round of financing almost doubles that initial infusion of cash it received from Trident Capital and Epic Ventures. 

"HyTrust continues to demonstrate the importance of this emerging market," said Eric Chiu, president and CEO of HyTrust. "Our ability to raise such a significant round of funding and attract top-tier, strategic investors in a still precarious economy is a testament to the quality of our team, the strength our offering, and the gravity of the problem that it addresses for our customers. The continued support of our customers, partners and investors is critical to our success as we continue to transform the virtualization marketplace and capitalize on the opportunities ahead of us."

HyTrust said it will use the latest round of funding to drive development, sales, and marketing, as well as "fuel the company's next stage of growth."