Main News Desk

CloudShield Secures $15 Million in Funding Round Led by Tektronix

Companies form strategic partnership targeting the service provider market with CloudShield’s multi-function appliance for service control and security

Sunnyvale, CA - September 17, 2007

CloudShield Technologies, Inc., a leading provider of IP services control and security solutions, has closed a $15 million financing round led by Tektronix, Inc. (NYSE: TEK), a leading worldwide provider of communications network management and diagnostics solutions. The investment will enable CloudShield to build on its sales momentum in the carrier and government markets while continuing expansion of its global distribution network. Existing investors ComVentures, TPG Growth, Foundation Capital and Paladin Capital also participated in this funding. Closing this round means CloudShield is now fully funded.

CloudShield and Tektronix are also announcing a strategic partnership in which the two companies will jointly offer and blend service control and security technology from CloudShield with the market share leading service assurance solutions from Tektronix. This combination will better enable service provider organizations to analyze and control traffic and quality on high-speed networks.

“As one of the world’s top communications network management and diagnostics solutions providers, Tektronix is the ideal partner to help us build on our success in the service provider market,” said Matt Jones, CEO of CloudShield. “Tektronix has a strong track record in delivering service assurance and diagnostics solutions to carriers so our offerings are highly synergistic. With this partnership we will be able to expand our market reach and ability to meet the needs of existing customers around the world.”

“CloudShield’s best of breed platform and DPI technology is a great complement to our Unified Assurance solution,” said Richard McBee, Senior Vice President and General Manager of the Tektronix Communications Business. “We see increasing market demand for greater intelligence and control to achieve higher security and quality for the end users. This partnership will allow us to best address this key and growing demand from our service provider customers.”

CloudShield has seen significant sales momentum for its platform, exceeding its total 2006 revenue in the first half of 2007. During the last 12 months, the company has added several new partners and two new subsidiaries, extending market coverage to Europe, South America and Asia Pacific. The company’s products are already deployed in service provider networks across Europe, Latin America and Asia, including two of the five largest service providers in Europe. CloudShield has also maintained strong momentum in the Federal Government market, signing several new agreements including two multi-million dollar orders.

Executive quote

“As one of the world’s top communications network management and diagnostics solutions providers, Tektronix is the ideal partner to help us build on our success in the service provider market,” said Matt Jones, CEO of CloudShield. “Tektronix has a strong track record in delivering service assurance and diagnostics solutions to carriers so our offerings are highly synergistic. With this partnership we will be able to expand our market reach and ability to meet the needs of existing customers around the world.”

About the company

About CloudShield
CloudShield solutions provide large network operators new levels of visibility and control of the traffic traversing their high-speed networks, providing opportunities to monetize network content and better manage their subscribers’ experiences. CloudShield systems enable controls to be customized to individual operator requirements, supporting unique service offerings and operator policies. Through its application and solution partners, CloudShield has helped deliver solutions to carriers in North America, Europe and Asia as well as many important U.S. federal government customers. More information about CloudShield can be found at www.cloudshield.com.

Contact details

Cari Goodrich
LEWIS PR on behalf of CloudShield
408 573 3663
cloudshield@lewispr.com

Recent Press Releases

2010 Archive

2009 Archive

2008 Archive

2007 Archive

Jump to:

Main News Desk

CloudShield Secures $15 Million in Funding Round Led by Tektronix

Executive quote

About the company

Contact details

Related links