Bit9 snags $34.5 million in VC funding

Sequoia Capital, a new Bit9 investor, lead the VC firms, which included existing investors Atlas Venture, Highland Capital Partners, Kleiner Perkins Caufield & Byers, and .406 Ventures, the company announced.

The Waltham, Mass.-based firm plans to use the funds for new product development efforts and to expand sales and marketing capabilities.

Commenting on the funding, Patrick Morley, president and chief executive officer of Bit9, said: “This latest round of funding is the largest in the company’s history and underscores the support Bit9 has received from investors who understand the changing nature of the security market. It places a bet squarely on our vision and technology. It’s an exciting time as we are dramatically changing how organizations protect themselves from IP theft and advanced attacks by focusing on a trust-based approach.”

Bit9 bills itself as offering the next-generation product to stop advanced persistent threats, such as the Flame malware and the RSA breach. The company claims to be the “only security company to announce that it successfully stopped the Flame malware and the RSA breach attack—both ‘zero-day’ APT attacks—long before they were identified by traditional/legacy antivirus companies.”

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