Deals

Solera raises $20M from Intel and others for real-time network security

Solera Networks has raised $20 million in a fourth round of funding led by Intel Capital, the investment arm of the world’s biggest chip maker.

The money will finance Solera’s business of providing real-time network security using high-speed security appliances. The large funding shows that security continues to be a hot market for investments.

Other existing investors Allegis Capital, Signal Peak Ventures, and Trident Capital also participated in the deal.

The Salt Lake City company will use the money to expand global sales, marketing, and product-development initiatives.

“With increasingly large amounts of data crossing corporate networks, organizations must balance advanced threat prevention with an aggressive and proactive response system to be fully prepared when an inevitable breach occurs,” said Sean Cunningham, Intel Capital investment director.

When hackers strike at company web sites, there is often no easy way to figure out what happened. Solera helps companies reconstruct exactly what transpired. The value of that data is often critical to figuring out who did it, much like the evidence found at a crime scene is often most critical in the first 48 hours. It’s important that network forensics be done instantaneously to give companies the best situational awareness possible.

The company’s DeepSee platform uses “deep packet inspection,” meaning it processes traffic in real time and looks inside each internet packet to determine whether it contains any cyber threat. It can inspect cloud and mobile traffic.

During the past year, Solera’s domestic and international sales grew more than 100 percent.

“We’re seeing broad adoption of our full-fidelity ‘camera for your network’ technology, providing CISOs and CEOs the added assurance that all breaches are contained, maintaining our customers’ reputation and mitigating their financial risk,” said Steve Shillingford, president and CEO of Solera Networks.

Solera’s rivals include NetWitness, Niksun, and Endace.

Intel Capital has invested more than $10.4 billion in 1,212 companies in 51 countries since 1991. Of those companies, 194 have gone public and 289 were acquired or merged. In 2011, Intel Capital invested $526 million in 158 investments.