Red Lambda raises $10M for network security software

Red Lambda has raised a $10 million round of funding for its network security software.

The round was led by Saad Al-Barrak, former vice chairman and managing director of wireless carrier Zain Communications. The company said it is also launching the latest version of its AppIron Grid Platform this week at the Black Hat security conference in Las Vegas. AppIron uses virtualization and grid computing — two technologies that have swept through enterprise computing in recent years — to address network security problems. The company’s new product uses active user identification technology, which captures data about a user’s login session to identify the user and protect him or her from threats such as botnets, intrusions, anomalies, and file sharing malware.

The funding suggests that the landscape is changing for security as new technologies such as mobile computing, cloud computing, and other innovations arise. Orlando, Fla.-based Red Lambda is positioning itself to deal with those changes, said company chief executive Bahram Yusefzadeh. The company will use the capital to support marketing, sales and international business expansions. Other investors include V2R Group and an unnamed angel fund. (See our roundup of all Black Hat and Defcon stories).