VCs invest another $8m on convergence
Thursday, February 12, 2009
FREMONT, Calif.--Opus Capital, a venture capital firm with more than $1 billion under management, announced this week an $8 million investment in AlertEnterprise, a company that manufacturers products designed to integrate physical and logical access control.
AlertEnterprise's flagship products, AlertAccess and AlertAction, monitor and detects potential security threats, enabling real-time response. They allow enterprises to automate, track and audit rules-based access to physical locations and IT applications, so as to provide global control, security and enforcement of governing policies, practices and regulations.
"We have been evaluating security and compliance companies for some time now," said Ken Elefant, in a statement. He is a general partner of Opus Capital and now a member of AlertEnterprise's board of directors. "AlertEnterprise clearly stood out from the rest due to its innovative technology, proven management team and because it solves a very real problem of enterprises: the integration of physical building security with IT security. Given our long term relationship with Jasvir Gill and the team as well as our interest in this space, it was a great fit for Opus Capital."
In the prepared statement, Gill, who is CEO and founder of AlertEnterprise, said, "The single biggest gap in enterprise security is the integration of IT authorizations and physical access controls, a near universal cybersecurity vulnerability. This financing enables us to significantly intensify our efforts to help our customers fight fraud, theft, malicious behavior and even human error by automating prevention, detection and remediation of physical and IT security threats."