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News

Demand for compliance results in successful funding round

ForeScout Technologies : 01 July, 2008  (Company News)
ForeScout Technologies gains development funding on the back of burgeoning demand for compliance products and network access control solutions
ForeScout Technologies has completed an internal $8M fundraising round with all existing venture partners participating including Accel Partners, Amadeus Capital Partners, Meritech Capital Partners and Pitango Ventures. The company experienced a breakout year in 2007 with 80 percent growth, setting the stage for this further investment to fuel sustained compliance and NAC leadership.

According to Kent Elliott, CEO of ForeScout, "ForeScout's success has kept our investor confidence high, believing in the proven potential of regulatory compliance and access control markets. While others have faltered, ForeScout has been able to consistently deliver industry leading technology to the most demanding enterprises and government organisations in the world. This combination of strong technology and focused go-to-market execution has allowed ForeScout to take market share from companies like Cisco and Microsoft gaining the trust of large enterprises that are under pressure to achieve regulatory compliance, like PCI DSS or HIPAA, and implement strong network access control."

Richard Anton, Partner at Amadeus Capital and ForeScout board member adds, "ForeScout has been able to step into a market confused by many promises, but very few actual products and deliver real technology meeting the rigorous demands of leading global companies. We are pleased to continue our support of ForeScout and their success in delivering market leading technology."

Network access control is being embraced as a best practice for leading IT security shops. What was once viewed as a technology built for dealing with network guests has expanded its scope to provide an easier way for IT security professionals to achieve regulatory compliance, gaining visibility into network operations and streamlining remediation for non-compliant systems.

ForeScout has diligently worked with leading companies to understand the needs of the global enterprise. With the recent introduction of CounterACT 6.3, ForeScout continues to meet and exceed these demands with extensions to its product line including the recently introduced PCI Kit, which provides 21 pre-configured policies and reports to help customers achieve the data control requirement for PCI compliance. This disciplined focus on meeting customer's needs keeps ForeScout ahead of the competition and a leader in innovative regulatory compliance and network access control solutions.

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