Security software firm gets $6.8 million
Source: CNet News
L33tdawg: Damn that's a lot of money! I actually went to see a venture capitalist yesterday to talk to them about possible funding of HITB. They seemed pretty interested, but like most VCs they want like 80% share, and a 50 page business plan. Well -- what can I say, I'm at a point where I guess I'm going to have to bite the bullet and sit down and attempt to write a business plan (I say attempt, since I've never written one before), and see what happens. Somehow or another, I have a feeling that IF (and that's a huge I-F mind you), we get funding, I'm going to lose control of HITB and things are just going to get f-ed up from there on out. However, what choice do I have? The banner ad sales thingy hasn't really worked out (at least not yet), and times are pretty bad...
KaVaDo raised $6.8 million in a second round of funding, led by 3i. Other investors included Banc of America Equity Partners. New York-based KaVaDo has raised a total of $7.8 million. The company develops security software to protect Web applications.
