Autonomic Networks has released a beta of its new compliance and auditing software, having dumped its old name (Vernier Networks), its old leader (replaced by new chief executive Paul Stich two months ago), and its old focus (network access control) all in the past year, reports VentureWire.
The Mountain View, Calif.-based company now specializes in software and equipment to help companies enforce and monitor compliance with network security protocols. It can tell you who is accessing your networks and how they entered, whether or not users are sharing passwords, and if there is any unusual activity afoot. Five beta customers are already slated to test the product, and the company hopes to bring on seven more by the start of the year.
Autonomic hasn’t raised VC funding since 2005, when it closed a $21 million fifth round (led by Venrock). Overall, it has brought in $68 million in financing as well as a few small amounts in bridge financing from Allegis Capital, Foundation Capital and Venrock. Other investors include DCM, Masthead Venture Partners, UV Ventures and Weber Capital Management.
The company decided to break away from its past after poor market performance, also experienced by other network access control firms like FireEye and ConSentry Networks, reports VentureWire. Both have since redirected their efforts as well.
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