NexTier Networks, a company providing “data leak prevention” technology to help companies comply with their securitiy policies, said it is raising a round of capital.
The Santa Clara, Calif. company issued a press release saying it has built semantic analysis technology to govern the data leak prevention product.
According to the release:
NexTier Networks’ DLP automatically assigns security values to discovered network data, classifies the data and applies security policies based on data context. No other security provider provides such a contextually aware and complete suite targeting data leak prevention in the industry today. One of the biggest challenges for companies today is protecting ever-increasing amounts of sensitive data, and that data is increasingly unstructured and harder to discover… nexTier’s Data Leak Prevention Suite enables organizations to identify and protect their information no matter where it is located in the enterprise by automatically discovering sensitive information and applying semantic intelligence to determine what the document’s content is…
The company, founded in April 2007, has already raised less than $2 million in convertible notes from seed investors Archimedes Capital and Ecosystem Ventures as well as individuals, Tarique Mustafa, the company’s founder, chairman and chief technology officer, told VentureWire.
The company said it will raise between $5 million and $8 million within the next three months.
Competitors include EMC Corp. and Symantec Corp. as well as venture-backed companies Code Green Networks, Fidelis Security Systems, Reconnex, Verdasys and Vericept Corp.