ROCKY HILL, Conn., April 7, 2008 — Connecticut Innovations (CI), the state’s quasi-public authority responsible for technology investing and innovation development, presented its Outstanding Portfolio Company Award to Milford-based Perimeter eSecurity at the annual CI Technology Celebration on Wednesday, March 26, 2008.
“We are very pleased to receive this recognition from Connecticut Innovations whose early investment helped put us on our current path to success,” said Brad Miller, CEO of Perimeter eSecurity. “We have seen a 331 percent revenue growth rate over the last five years and we attribute this to Perimeter’s unique business approach of providing complete security on demand, also known as security-as- a-service. Just as salesforce.com revolutionized the CRM market, Perimeter is doing the same thing for IT security, providing a Fortune 500 class security technology infrastructure on subscription basis, without any CAPEX , staffing or integration requirements, and making it affordable and easily available to companies of all sizes.”
“We are pleased to be honoring Perimeter Internetworking with our Outstanding Portfolio Company Award again this year," said Peter Longo, president and executive director of CI. “The Perimeter team has achieved impressive growth and profitability through its tenacity and ability to develop smart strategies and then execute upon those strategies. Despite the struggling national economy, Connecticut's entrepreneurial community is as active as ever and we are optimistic about the future of the state's tech sector. The strength of our investment pipeline is evidence of the abundant tech activity in our state, and we look forward to supporting promising innovators with our investments."
Perimeter eSecurity and its 300+ employees are playing an important role in protecting confidential data and information in Connecticut and beyond, delivering critical on demand security services to business customers nationwide. In the past four years alone, Perimeter has acquired 11 companies. Perimeter has grown its customer base to over 5,000 companies nationwide and increased its annual revenues to over $58 million in 2007, while achieving year over year profitability in each of the past seven years. In the third quarter of 2007 Perimeter received two funding rounds totaling $104 million from Goldman Sachs, Bessemer Ventures and Stripes Group.
The Outstanding Portfolio Company Award recognizes a company that has been in the Connecticut Innovations Portfolio for over one year and has performed above and beyond other companies in the portfolio. To be considered for this award a company must be at least three years old, independently owned, and have made significant progress during 2007 toward its financial and technology milestones. Each company must be positioned to increase sales and create job growth during the upcoming year.
About Connecticut Innovations, Inc.
Connecticut Innovations (CI) is a quasi-public organization dedicated to driving a vibrant, entrepreneurial, technology-based economy in Connecticut. CI stimulates high-tech growth by investing in: early-stage Connecticut technology companies; university/industry research collaborations; technology transfer; and, clean energy initiatives through the Connecticut Clean Energy Fund. CI also fosters collaboration among government, business, non-profit and academic organizations to advance technology growth and promotes public policies consistent with CI’s mission. Since 1995, CI has been the state’s leading investor in high technology and clean energy, investing over $180 million in more than 100 companies, projects, and other programs. For more information on CI, please visit www.ctinnovations.com.
About Perimeter eSecurity
As the only provider of complete security on demand, Perimeter eSecurity makes security easily available and affordable for all businesses. Perimeter's on demand security services protect thousands of computer networks nationwide, offering more than 50 different services on a subscription basis in the areas of: Vulnerability Defense, Intrusion Defense, Network Defense, Email Defense, System Defense, and User Defense. With the proliferation of security threats and technologies, clients benefit from a single-source provider that offers all services through one pre-integrated platform and web portal.
Perimeter's security SaaS services are continuously expanded, enhanced and upgraded for current and future regulatory compliance. With seven geographically distributed technical offices and three redundant data centers, Perimeter's complete, on-demand and affordable security services are always available and have been validated by multiple independent third parties. For more information about Perimeter visit www.perimeterusa.com.
For further information contact:
Cathy Clarke
CNC Associates
617-527-2089
cathy@cncassocs.com
Emily Smith
Managing Director, External Relations, Connecticut Innovations
Phone: (860) 257-2337
emily.smith@ctinnovations.com
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