Vericept just announced an additional $8 Million in funding from Sigma Partners to live in the basement until they can get married off. With other DLP players getting hitched (reported here and here), it looks like Vericept is going to have to go it alone for a while. Will they die alone in a musty apartment or will they use the warchest to get a facelift and hook a handsome and upwardly mobile sugar daddy? According to the press release, this latest round will be spent getting profitable and to do so, they plan to expand their sales efforts. I guess we can mark one down in the "facelift" category. The quote in the press release from President and CEO Dave Parkinson is jus too good to pass up:
"We are pleased our investors are showing continued confidence in Vericept's vision and execution. Our strength in classification of unstructured data uniquely positions us to capitalize on the huge latent need for protection of intellectual property. Vericept's content-aware technology and classification tools make IP protection realizable."
Let's see, is $8 million from only one of the five firms that have backed you thusfar really an indication of "continued confidence" in your "vision and execution"? Vision and execution that despite boasting over 800 installed customers has yet to turn a profit? It sounds more like waiting out the storm and hoping to get picked up when the DLP game of musical chairs finally ends.
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