VoIPshield Systems has obtained $6 million in its second round of venture capital financing.
The Ottawa-based company, which makes products to secure voice-over-Internet-protocol (VoIP) communications, said it had received the investment from a group led by Toronto's NAOR Group Ltd. and joined by existing VoIPshield investor Brightspark Ventures.
The funding will be used to support the launch of its new suite of VoIP security products, including its intrusion prevention system VoIPguard, which are expected to be made available in mid-2008.
"While VoIP security attacks aren't widely publicized, they are happening, and we expect the number of breaches to increase each year into the foreseeable future," said VoIPshield CEO Rick Dalmazzi in a statement. "We're pleased that our new and existing investors have shown confidence in our vision of the market. This injection of new working capital will enable us to expand our reach into the market as we prepare for the release of our new products in 2008."
NAOR Group president Larry Krauss, who has joined VoIPshield's board of directors as part of the financing deal, said the company was "poised to be a leader."
He noted, "VoIPshield's approach to securing VoIP phone systems combined with their vision for the coming market is what led us to invest. The company's years of research in specific VoIP vulnerabilities position it ver well in a market that's fast approaching."
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