|Company Doubles Revenues, Builds on Blue Chip Customers and Further Extends Its Leadership in the Emerging Enterprise DRM Market|
Authentica, Inc., a leading provider of Enterprise Digital Rights Management (E-DRM) software, today announced the appointment of Symantec and Counterpane veteran John Bruce as CEO, and the securing of $8M in additional funding from top tier investors North Bridge Venture Partners, Greylock, 3i US, Norwest, Venrock and Symantec. The Series C funding will be used to expand the company's marketing and sales efforts and develop new E-DRM applications.
"Authentica(R) has an impressive list of enterprise and government customers and proven technology that provides a robust platform to take the business to the next level," said Michael Skok, general partner at lead investor North Bridge Venture Partners. "We have tremendous confidence in Authentica's ability to continue to deliver innovative Enterprise DRM solutions, using their patented Active Rights Management(TM) technology. Coupled with John's demonstrated leadership, we see Authentica building on its achievements."
"As a founding investor in Authentica, we're pleased to reinvest in a company that continues to grow and establish a strong position in the Enterprise DRM market," said Bill Kaiser, general partner at Greylock. "We see this market accelerating in the near term and we look forward to continuing to help the Authentica team build on the company's successes."
Doubled Revenues, Expanded Blue Chip Customer Base
In 2003, Authentica doubled its revenues from the previous year and added enterprise class customers including BlueCross BlueShield of Louisiana, Commercial Federal Bank, CSC, FTN Financial, Novation/VHA, NVIDIA, Toyoda TRW, UnitedHealthcare, Xilinx, and the U.S. Department of State. Additionally, new partners like Lockheed Martin Orincon and In-Q-Tel are beginning to deliver integrated solutions to the U.S. intelligence community based on Authentica's technology.
"Success for corporations and government agencies alike requires that intellectual property be safely shared and used collaboratively. Whether it's a company and its partners developing a new product and bringing it to market, or the intelligence and law enforcement communities fighting terrorism, it's absolutely imperative that sensitive information be protected," said Bruce. "I was very impressed by Authentica's proven track record in meeting the needs of enterprise customers. We'll be building on this success and introducing new technology to protect and control intellectual property through its lifecycle, no matter where it resides."
Bruce Joins As CEO
Bruce brings a solid track record of leadership and accomplishments as a senior sales, marketing and business development executive in the high tech industry. Most recently, he was Chief Marketing Officer and Executive Vice President of Sales for Counterpane Internet Security, Inc. where he was responsible for driving the company's sales channels, establishing marketing strategies and creating business relationships. During his tenure, the company developed clear leadership in an emerging market, achieved record growth, and raised $71 million in funding.
Bruce also spent more than eight years at Symantec Corporation in senior management roles. In his last position there, Bruce was Vice President of Business Development and Alliances, driving strategic alliances with major vendors including HP, IBM, and Intel. These alliances are considered by the industry to be major contributors to Symantec's dramatic growth in sales to corporations. Bruce was also responsible for marketing throughout Europe, the Middle East and Africa for a number of years and brings solid international experience.
Authentica's Enterprise DRM Solutions
Authentica's E-DRM product family protects against inadvertent and unauthorized access, forwarding, and printing of sensitive content internally and externally. It gives customers an easy-to-use solution for securely sharing valuable IP without surrendering control over how that information is used even after it has been distributed.
Authentica's patented Active Rights Management technology allows customers to actively control whether content can be viewed, printed, copied, saved locally, or forwarded in readable form after recipients have it. In addition, access and usage policies can be revoked and dynamically changed regardless of where content is stored.
Authentica, Inc. provides proven Enterprise Digital Rights Management (E-DRM) software for secure collaboration, publishing, and persistent control of intellectual property throughout its lifecycle. Information owners can control how e-mail and documents are handled by recipients after delivery, no matter where they reside. Authentica's E-DRM products are used by Fortune 2000 organizations and government agencies to securely share valuable information internally and with external partners. Investors include 3i US, Greylock, North Bridge Venture Partners, Norwest Venture Partners, Symantec Corporation, and Venrock. Authentica is headquartered in Waltham, Massachusetts. For additional information, please visit www.authentica.com or contact us at (781) 487-2600.
Authentica is a registered trademark and Active Rights Management is a trademark of Authentica, Inc. All other brand or product names are or may be trademarks of, and are used to identify products or services of, their respective owners.
NOTE TO EDITORS: PHOTO AVAILABLE UPON REQUEST