Red Condor raises $7.7M more for anti email spam product

August 8, 2007 | Matt Marshall

Red Condor, a Rohnert Park, Calif. anti-email spam company, has raised an additional $7.7 million in a first round of funding led by venture capital firms ATA Ventures and RWI Ventures. It included $2 million in debt, from Square 1 Bank.

See the company’s statement here.

The company launched four years ago, but is still not profitable. Red Condor previously raised $2.8 million in the first phase of its first round last year. With so many competitors, its hard to see how Red Condor distinguishes itself.

According to VentureWire (subscription required), the company was valued at $14 million after the investment. Red Condor said it has about 75,000 customers for its Web hosted service, which costs $2 per mailbox, per month. Its “appliance” service, which companies can buy and manage themselves, has about 200,000 users — and costs $15,000 for the first year and $7,000 annually after that.

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Tags: deal

About the Author, Matt Marshall

Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.