Investment will fund market expansion and network security product development
Palo Alto / Munich, February 12, 2014. Munich-based venture capital firm Target Partners (www.targetpartners.de) has invested a seven-figure sum in Abusix, Inc. (www.abusix.com), a Silicon Valley- and Karlsruhe, Germany-based provider of automated network abuse identification and rapid resolution products for enterprise and ISP customers. Abusix will use the funds to further expand development and sales of its flagship product AbuseHQ in the U.S. and EMEA.
Target Partners was attracted to Abusix because of its innovative approach to identifying and resolving a wide array of network abuse issues. Unlike traditional security software vendors, Abusix shifts the security paradigm away from its focus on symptoms to attack network abuse directly at its source. Abusix combines massive amounts of real-time, proprietary network abuse data and sophisticated algorithmic analysis to automate network abuse identification, breach monitoring and resolution for both enterprise and ISP customers. "We've been closely following this space, and Abusix's experienced team impressed us with their approach to providing highly scalable, enterprise-level network security," said Waldemar Jantz, partner at Target Partners. "The company's success in attracting tier-one customers and partners convinced us that Abusix is well-positioned to address the huge market opportunity."
Evidenced by the near-daily headlines of big corporations suffering from network security breaches, Abusix serves a rapidly growing and increasingly important market. Enterprises and ISPs' current network abuse solutions can no longer effectively handle the growing number and sophistication of network security attacks. "Abusix's ability to quickly identify compromised hosts and initiate appropriate escalation paths enables customers to firewall and resolve their network security issues via a safe, self-service environment," said Tobias Knecht, Abusix CEO. "By attacking abuse at its source, we provide sustainable and much more effective network security - and we do it at a significantly lower cost than competitive vendors or homegrown solutions."
With €230 million under management, Target Partners is one of the leading early-stage venture capital firms in Germany. Target Partners invests in new start-up and early-stage companies, and supports them with venture capital during their build-out and expansion phases. With many years of experience as managers, entrepreneurs and venture capitalists, the team at Target Partners supports entrepreneurs in developing and marketing products and services, building organizations, raising money and taking companies public in Europe and the United States.
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Sprachperlen GmbH Agency for enterprise communication Helena Pröpster Ehrengutstraße 5 80469 Munich, Germany Tel.: +49 89 411 53 199 Fax: +49 89 411 53 200 e-Mail: helena.proepster@sprachperlen.de
Based in Silicon Valley with operations in Karlsruhe, Germany, Abusix shifts the security paradigm away from its traditional focus on symptoms and attacks network abuse at its source. Abusix combines massive amounts of real-time, proprietary network abuse data and sophisticated algorithmic analysis to automate network abuse identification and resolution for both enterprise and ISP customers. Available as a SaaS offering, Abusix's AbuseHQ enables customers to resolve network abuse easily and safely, while eliminating the high cost of internal abuse departments and home-built technology solutions.
For more details please see: www.abusix.com, follow us on Twitter: twitter.com/abusix
Abusix, Inc. Tobias Knecht 720 University Avenue Palo Alto, CA 94301 +1(408)9603785 tk@abusix.com