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Arxan Raises $13 Million in Series C Funding
Adds New Investors Legend Ventures and TDF Expands Board of Directors
| Source: Arxan Technologies, Inc.
BETHESDA, MD -- (MARKET WIRE) -- March 5, 2007 -- Arxan Technologies, Inc. today announced it has
secured $13 million in Series C funding.
The round includes funding by two new investors -- Washington, D.C.-based
Legend Ventures, LLC, a venture capital firm that invests in early stage
new media, telecommunications and information technology companies, and
TDF, a specialized communications fund. The round also includes funding
from existing Arxan investors: EDF Ventures, Paladin Homeland Security
Fund, Solstice Capital and Trident Capital.
Arxan technology protects intellectual property from software piracy,
tampering, reverse engineering and any manner of theft. The company is an
established leader in the security defense market, and is rapidly expanding
its commercial customer base. Arxan will use the Series C funding to fund
marketing, sales and research and development activities to expand Arxan's
offerings into the commercial market.
"Software piracy is a costly and growing problem that affects nearly every
hi-tech commercial industry," said Mike Dager, CEO and chairman for Arxan
Technologies, Inc. "Building on our established presence within the defense
industry, Arxan is well positioned to capitalize on this incredible market
need both in the commercial desktop and embedded software markets, as well
as in the multimedia DRM applications space."
With this latest round of funding, Arxan also adds Todd Klein, managing
partner at Legend, to its board of directors.
"We are very excited about the market opportunity for Arxan as well as its
world-class management team," said Klein. "To date, the company has
demonstrated impressive growth and is well on its way to becoming a true
leader in the intellectual property protection space."
About Arxan Technologies, Inc.
Arxan Technologies, Inc. (www.arxan.com) protects Intellectual Property
from software piracy, tampering, reverse engineering and any manner of
theft. Arxan takes software security beyond static obfuscation and
encryption to dynamically defend, detect and react against application
attacks. Arxan supports the full gamut of anti-tamper and robustness needs,
from basic copy protection all the way up to military grade assurance.
Arxan's customers include government agencies, defense systems integrators,
software vendors and content providers. Founded in 2001, Arxan Technologies
has offices in Bethesda, Md., San Francisco, and West Lafayette, Ind.