Deals

Crossbeam Systems collects $3.5 million for network security

Crossbeam Systems, a company that develops network security platforms, has taken in $3.5 million of venture funding. This was a continuation of their sixth round of investing, which took place last spring.

In a statement to VentureBeat, Crossbeam claims to be growing “as a leader in the market for network security products and services.” One of its most publicized deals took place with Scottrade last April. The company also protects financial data for companies such as Capital One, H&R Block, and The Hartford.

While Crossbeam has taken in a lot of venture funding, larger competitors provide a tough challenge for the Boxborough, Mass.-based company. Cisco and Juniper have the head start in the network security field and are more recognizable brands. Crossbeam has been targeting the high-end network security market in its search for higher market share.

Matrix Partners, North Bridge Venture Partners, and Tudor Ventures all took part in the continuation of the round.

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