Bradford Networks Raises $3 Million in Series C Financing, Led by Updata Partners
Financing Round to Support Rapid Expansion; Enterprises Increasingly Turning to Network Access Control to Secure BYOD
May 14, 2012 - Cambridge, MA – Bradford Networks, the best choice to enable secure network access for corporate issued and personal mobile devices, today announced the closing of a $3 million round of financing. Updata Partners led the round and was joined by Windspeed Ventures. The investment will support Bradford’s rapid expansion into the healthcare and government markets, fueled by increasing demand for the company’s Network Sentry product as part of a comprehensive Bring-Your-Own-Device (BYOD) security approach.
According to Frost and Sullivan’s recent report, Analysis of the Network Access Control Market, the market for network access control (NAC) products is expected to reach $312 million by 2016. The market growth is driven primarily by the BYOD trend and the need for businesses to secure personal devices on their corporate networks. NAC has emerged as a critical part of a holistic technology approach to securing personal devices in the enterprise.
“The Network Access Control market saw tremendous growth in 2011, fueled in part by the introduction of personal devices in the enterprise. BYOD has left many organizations searching for a secure way to introduce these devices onto their networks. Increasingly, they’re turning to Bradford as the solution,” said Dan Haley, CEO of Bradford Networks. “This round of funding provides the resources needed to accelerate adoption of Network Sentry as the backbone of a comprehensive BYOD solution.”
Unlike corporate-issued devices, which are well-managed and under IT control, BYOD initiatives introduce a unique set of security challenges that requires a balance of flexibility, visibility and security. Network Sentry is the first network security offering that automatically identifies and profiles all devices and users on a network, providing complete visibility and control. The platform features the first App that enables secure network access for trusted iPads, iPhones and other Apple devices. Network Sentry can also differentiate between corporate and personal assets, provisioning network access accordingly
“We’re excited about the progress demonstrated by Bradford over the past year. The company’s rapidly growing enterprise customer base is a demonstration of its continued technology excellence and ability to solve the most difficult network challenges,” said Carter Griffin, General Partner, Updata Partners. “As the demand for NAC solutions continues to grow, we firmly believe that Bradford can be the undisputed leader in this market.”