IntelliGuard Secures AUD$1.5m in Initial Funding Round

28 Feb 2006 - IntelliGuard today announced that it has secured AUD$1.5 million funding from two Australian venture capital firms, Uniseed and Starfish Ventures. The funding will be used for developing IntelliGuard’s first product, a defense against Distributed Denial of Service (DDoS) attacks.

 “Our patented technologies have many applications, and we’re delighted that Uniseed and Starfish were able to see the value of these”, commented IntelliGuard founder and CEO, Ken Baker. “The validation from sophisticated investors is a real shot in the arm, and the value of having partners with a shared vision and commitment cannot be overstated. With this initial funding we will enlarge the team and expedite product development of our DDoS defense platform. We look forward to our new investors adding value by contributing constructive guidance and contacts for bringing our technology to market.”

About Starfish Ventures

Established in 2001, Starfish Ventures is an Australian owned venture capital fund manager seeking superior returns through active investment in innovative technology companies. Starfish Ventures has over $150 million in funds under management and has made investments in over 20 companies to date. Starfish seeks investments in emerging Australian businesses across all technology sectors including biotechnology and life sciences, information and communications technology, industrial technology and material sciences. The team's track record includes Australian technology success stories ResMed, Moldflow, Engana and Sirtex Medical. Further information about Starfish Ventures can be found at www.starfishventures.com.au

About Uniseed

Uniseed (www.uniseed.com) is a $61m joint venture pre-seed and seed stage venture capital fund, with the aim to successfully commercialize the outcomes of Australian research and ingenuity from Australian Universities. Uniseed makes targeted investments at the early stages of a venture's formation and endeavors to help manage the development of research and ingenuity-based ventures to the point where they can secure substantial further investment from the investment community. It represents an important step in forging a link between academia and business that focuses on the commercialization of innovative ideas and inventions for global consumption.

About IntelliGuard

IntelliGuard is the leading provider of DDoS protection systems. IntelliGuard DPS series provides comprehensive DDoS protection, while the complementary Reporting System provides full-featured reporting for historical network views of traffic flows and incidents. IntelliGuard is a VC-backed privately held company headquartered in Melbourne, Australia, with offices in Hong Kong, Shanghai, and Seoul. The IntelliGuard DPS appliances are available from prices starting at US$45,000 for 1Gbps models. For more information, please visit www.IntelliGuardit.net