Sourcefire to spread with funding bonanza
Intrusion prevention vendor secures $20m from venture capitalists
Intrusion prevention vendor Sourcefire is preparing for rapid growth after it revealed to CRN that it has recently secured $20m of venture capitalist funding.
The firm, which came within a whisker of being acquired by security giant Check Point earlier this year, is looking to bulk out its European channel base to increase market share.
Graham Welch, managing director EMEA at Sourcefire, said: “As a company we are very focused on organic growth. We have turned intrusion detection and intrusion prevention on its head with our technology. We have caused the older, more established players to rethink their strategies.”
Welch added that the take-over bid by Check Point has served to raise Sourcefire’s profile in the industry.
“While we were the subject of a potential take-over, it meant that we were not able to invest in our channel strategy,” he said. “But now it has fallen through, we have an investment plan to expand our European channel operations.
“Check Point’s interest in acquiring Sourcefire was a tremendous en-dorsement to what we are doing. More people are talking about our technology, which is good for our partners.”
The vendor, which concentrates on enterprise-level network security, is looking for additional UK partners, and is considering working with distribution at some point in the future, Welch added.
Paul Darby, security products business manager at Sourcefire partner Phoenix Datacom, said: “We have two distinct sides to our business: a network focus and a network security focus. Sourcefire’s products allow us to re-visit clients and really promote the technology by showing it in action. It allows us to grow our relationship with customers on more than one front.”
Darby added that Phoenix Datacom has four core end-user areas: Ministry of Defence, carriers, finance and government. He also claimed that Sourcefire’s products have appealed to its entire customer base.