US-based network security software developer Valtix has collected $12.5m of funding from backers Cisco Investments, a corporate venture capital subsidiary of networking technology producer Cisco.
Northgate Capital and The Syndicate Group also participated in the round, which followed over $14m of funding from venture capital firms Trinity Ventures, Vertex Ventures and Wing Venture Capital announced when the company publicly launched in June 2019.
Valtix has developed multi-cloud network security technology compatible with systems managed by cloud services providers such as Amazon Web Services and Microsoft Azure. Its customers include businesses operating in sectors such as financial services, healthcare and retail.
The new funding will go towards accelerating the company’s go-to-market strategy. It also announced the appointment of Douglas Murray as CEO, replacing co-founding CEO Vishal Jain, who moved to chief technology officer, in Q4 2020.
Anthony Narducci has joined Valtix as vice-president of worldwide sales and Joe Palazola has come onboard VP of worldwide operations.
Murray said: “Valtix has created the technology that will define the next decade of multi-cloud network security. Our investors have a shared view on the future of this segment, and I look forward to working with each of them to scale the business in 2021.”