HSD partner RedSocks, an IT security company specialising in malware detection and control, announced today that it has received 3 million euros in private equity from venture capital investors. The Dutch security start-up will use the capital injection to accelerate growth and expand internationally.
RedSocks was founded in December 2012 and has since undergone three investment rounds. This fourth capital injection is intended to accelerate the organisation’s growth and operational activities. The company is also highly interested in opportunities beyond the Dutch borders. RedSocks expects to be able to announce its first international partnerships and clients in the coming months.
"This funding and the international ambition of RedSocks is a perfect example of how within the national security cluster HSD we can connect private equity to innovative businesses. Because growth and internationalisation can only be realised with 'access to capital' ", according to Joris den Bruinen, deputy director HSD.
Previous investment rounds
The previous investment rounds enabled RedSocks to fund further development of the product and to build up its technical and sales teams. The Dutch security provider has signed a number of agreements with distributors and resellers in the Netherlands over the past 12 months, and has welcomed its first clients. RedSocks expects to expand its indirect sales channels at home and abroad in the coming months.
“Right from day one we have worked hard on developing an innovative and distinctive solution,” notes RedSocks co-founder Pim Cornelissen. “That’s been successful, because the first clients in the Netherlands are already live, and our channel partners are also demonstrating their trust in our organisation and proposition. The RedSocks Malware Threat Defender is doing well with Dutch companies, because they regard us as a reliable, local player. Our investors also recognise that our product is scalable and is relevant worldwide, and with their trust and this capital injection, we can apply ourselves to the fullest to the opportunities we see in the Netherlands and internationally.”
RedSocks is a Dutch IT security company specialising in detecting and defeating malware in the corporate market. RedSocks supplies the RedSocks Malware Threat Defender (MTD) as a network appliance. This innovative application analyses outgoing digital traffic in real-time, also known as ‘intelligence-based egress monitoring’, based on risk lists and algorithms compiled by the RedSocks Malware Intelligence Team. The team is made up of specialists in spotting new threats on the internet, and translating this into state-of-the-art malware detection. RedSocks is a partner of The Hague Security Delta, the largest security cluster in Europe.
Read the article in FD (in Dutch)
Picture: Pim Cornelissen (RedSocks)