Prolexic Technologies has closed a US$30 million Series C funding round led by new investors Trident Capital and Intel Capital. Prolexic’s existing shareholders include Kennet Partners, Camden Partners and Medina Capital.
This latest round of financing comes at a time when Prolexic's year-over-year revenues have increased 65 percent, while remaining EBITDA positive.
Following the Series C investment, Trident Capital’s Managing Director Gustavo Alberelli will join Prolexic’s Board of Directors. “For the past two years, I have seen companies and government agencies around the world repeatedly select Prolexic for DDoS protection, cementing the firm’s position as market leader,” said Alberelli. “I’m excited to continue working with Prolexic management and providing Trident’s IT security expertise to help Prolexic continue its rapid expansion.”
The Series C financing comes in the aftermath of two of the largest DDoS attacks ever seen in the industry. So far in 2013, Prolexic has successfully mitigated the single largest attack in its 10-year history (167 Gigabits per second), as well as the world’s most powerful attack campaign (144 million packets per second). To keep pace with bigger, stronger and more sophisticated attacks, Prolexic will use the new funding to expand its worldwide scrubbing center footprint, increasing the capacity of its cloud-based DDoS mitigation platform beyond 1 Tbps, and to develop new cloud-based security services. Prolexic currently operates four scrubbing centers located in London, Hong Kong, San Jose and Ashburn, Va.
“We are pleased to partner with seasoned security investors like Trident Capital and Intel Capital,” said Scott Hammack, chief executive officer of Prolexic. “With this additional funding, we will be able to accelerate a number of strategic initiatives as we continue to expand our portfolio of cloud-based products and industry-leading DDoS protection services.”