Ingrian nets $14m in third-round funding
Appliance maker now 'well poised' to capitalise on emerging data privacy market
Security appliance maker Ingrian Networks has received $14m in third-round funding, which will secure its presence in Europe, after six months of channel uncertainty.
The maker of secure e-transaction devices scaled down its European operations in June last year, after admitting to premature expansion.
The move left its channel partners confused about the future of the vendor in the UK, but at the time the firm said it was awaiting a new round of funding.
"We are extremely pleased with our investors and the support they've placed in our corporate direction and technology," said Ingrian chief executive Robert Steinkrauss.
"With this new round of funding, we are well poised to capitalise on the emerging market requirement for data privacy solutions."
Damian Acklam, a representative of Ingrian reseller Gradian, said the vendor's products can fill a gap in the UK market.
"The UK market is lagging behind the US in the data protection market and there is an opportunity because it is now coming to the fore," he said.
"Ingrian has taken its time to work out how it wants to be positioned. We look forward to supporting its UK operation."