Proving that there is plenty of life left in the GRC space, eIQnetworks secured their first round of institutional financing this week led by Venrock. Venrock brings a significant amount of security space experience to the table having funded Vontu, IMLogic, Pedestal, and Whole Security, all of which eventually found there way into Symantec's hungry belly. Authentica, picked up by EMC, and Haystack Labs, acquired by McAfee round out the security trifecta. With CipherMax, Imperva, Red Seal, and CoreTrace still out in open water. Venrock partner, Mike Tyrrell, joins eIQ's board as part of the transaction.
Rest assured, with a track record of liquidity events around security products, and Tyrrell's past expereince on deals ending at SYMC (IM Logic and Pedestal), Venrock is one to watch. In the meantime, we're keeping tabs on eIQ.
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