PortAuthority Technologies raises $18 million

Published 27 September 2006

Protecting sensitive corporate information is essential to business success — just see the length to which the chemical industry has gone to make sure that complying with new chemical plant safety mandates would not make companies’ internal information subject to FOIA; HP’s Patricia Dunn was also worried about leaks of sensitive information when she authorized wiretapping of HP board members; a California company specializing in leak prevention has just raised $18 million

Patricia Dunn, Hewlett-Packard’s board chair person who has just resigned over a wiretapping scandal in the company’s board room, should have been advised that there are several companies out there offering solutions to plug — and if not plug, detect — leaks of sensitive information. Take Palo Alto, California-based PortAuthority Technologies. The company has closed a round of funding, raising approximately $18 million from New Enterprise Associates (NEA), Sequoia Capital, Greylock Partners, and Lexington Ventures.

PortAuthority Technologies specializes in the Information Leak Prevention (ILP) and offers its products to the content monitoring/filtering markets. Its security solutions aim to control the unauthorized distribution of sensitive information for data privacy, confidential information protection, and also compliance with a host of government mandates and regulations, among them Sarbanes-Oxley (SOX), the Health Insurance Portability and Accountability Act (HIPAA), the Payment Card Industry (PCI) Data Security Standard, the Family Educational Rights and Privacy Act (FERPA), and the Gramm-Leach-Bliley Act (GLBA). The company has more than twenty-seven patents pending, most having to do with technologies which continually monitor internal and outbound communications for the purpose of enforcing corporate security policies in real time.

-read more in this news release