New Enterprise Associates Leads $45 Million Investment in IronPort Systems; NEA Commits to Strong Management Team and Clear Market Need for Email Security

MENLO PARK, Calif.--()--Oct. 25, 2004--New Enterprise Associates (NEA) today announced that it has invested $18 million in IronPort Systems. San Bruno, California-based IronPort is a leading email security company. NEA led this $45 million Series D financing with an $18 million investment, bringing IronPort's total capital investments to over $90 million. Proceeds from this financing will be used for expansion purposes as well as product development.

"IronPort is in a unique position to become the principal market leader as they surpass milestones and exceed performance measures," said Peter Morris, NEA General Partner. "There is significant upside potential as IronPort continues to expand and develop proven solutions. We are pleased to support IronPort and their outstanding team, led by Scott Weiss."

IronPort Systems has become the leading email infrastructure products and services provider as Global 2000 companies race to replace out-dated, non-secure, non-scalable, and costly messaging infrastructures. IronPort has developed a family of products called Messaging Gateway appliances that offer breakthrough performance, unprecedented ease of use, and reduced total cost of ownership. Additionally, IronPort helps guarantee the delivery of legitimate email and thwart the voluminous threat of unsolicited commercial email or spam.

"The IronPort team is extremely dedicated to our customers and committed to securing their networks," said Scott Weiss, CEO of IronPort Systems. "Our products significantly increase productivity while reducing costs among Fortune 1000 clients. We welcome the opportunity to work with the NEA team and are impressed with the expertise they bring to IronPort."

About IronPort Systems

IronPort Systems is the leading email security products provider for organizations ranging from small businesses to the Global 2000. The company has developed a family of email security appliances, the IronPort C-Series (TM), that offer breakthrough performance, unprecedented ease of use and reduced total costs of ownership. IronPort is driving new standards and providing innovative products for those faxed with the monumental task of managing, protecting and growing mission-critical email systems. For more information, visit www.ironport.com.

About NEA

New Enterprise Associates (NEA) is a leading venture capital firm focused on helping entrepreneurs create and build major new enterprises that use technology to improve the way we live, work and play. Since its founding in 1978, the firm has followed the same basic principles: support their entrepreneurs, provide an excellent return to their limited partners and practice their profession with high standards and respect. Practicing classic venture capital for over 25 years, NEA focuses on early stage investments, playing an active role in assisting management to build companies of lasting value. With $6 billion under management, NEA's experienced management team has invested in over 500 companies, of which more than 145 have gone public and more than 185 have been acquired. NEA has offices in Menlo Park, California, Reston, Virginia and Baltimore, Maryland. For additional information, visit www.nea.com.

Contacts

New Enterprise Associates, Menlo Park
Tracy Howe, 410-244-0115
thowe@nea.com
or
For New Enterprise Associates
Ann Revell-Pechar, 678-580-0922
ann@revellpechar.com
or
IronPort Systems
Elizabeth (Robinson) Scheuring, 415-519-1744
elizabeth.scheuring@bitepr.com

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Contacts

New Enterprise Associates, Menlo Park
Tracy Howe, 410-244-0115
thowe@nea.com
or
For New Enterprise Associates
Ann Revell-Pechar, 678-580-0922
ann@revellpechar.com
or
IronPort Systems
Elizabeth (Robinson) Scheuring, 415-519-1744
elizabeth.scheuring@bitepr.com