Communication security specialist KoolSpan raises $6.5 million
it is a good time to be in the communication security business, and Security Growth Partners and New York Angels give the company with innovative technology a boost
Bethesda, Maryland-based KoolSpan, a communication securityspecialits, has raised $6.5 million in equity financing. The funds raised will be used to expand KoolSpan’s go-to-market, channel, and OEM programs and accelerate product development of the company’s security and authentication technology.
“KoolSpan technology is gaining strong marketplace awareness and traction,” said Elad Yoran, founder and CEO of Security Growth Partners which led the investment round. “This financing will fuel our growth strategy, delivering to the market the first secure communications technology for data, voice and video that is flexible, cost-effective and, above all else, easy to use. Like the dial tone on a telephone, KoolSpan-secured communications work and perform seamlessly.”
KoolSpan offers smart card technology with a twist: Embedded in each side of the link, the smart card to smart card architecture with mutual authentication and 256-bit AES encryption per packet protects sensitive information without degrading bandwidth utilization or performance. This technology allows for secure communications on any device, wired or wireless, as it automatically creates secure and trusted connections between any two points on any network.
-read more about KoolSpan’s technology at company Web site; read more about Security Growth Partners at FundingPost Web site; read more about New York Angels at group Web site
