Silicom Ventures FUND Invests in Yoggie Security Systems, an Israeli-based Security Company
Silicom Ventures FUND Invests
LOS ALTOS, California — January 22, 2007 — Silicom Ventures FUND LLC announced today that it has invested in Yoggie Security Systems, developer of a new network security solution which provides protection to mobile computers in a corporate or individual setting. The company was selected from hundreds of applicant companies that submitted their requests to Silicom Ventures Fund. The Fund, along with Silicom Ventures members, co-invested a total of $750K in the past two rounds. The company has completed its production line and has begun its sales campaign. The funding will be used for expanding the company's distribution of marketing and sales channels in the US and Europe.
“We believe that security for mobile devices is an increasingly important and unsolved problem. Yoggie's highly experienced management team and the elegant solution presented us with a compelling investment opportunity,” said Eli Sternheim, lead investor and director of Silicom Ventures FUND.
“Israel has the second largest concentration of high tech startups after Silicon Valley, and in particular, security related companies are extremely prominent,” said Gadi Behar, managing director of Silicom Ventures. “Investing in Israeli technology is always an attractive proposition to Silicom Ventures members, many of whom emigrated from Israel and have strong family and business ties to the country. In the past year, we also held an international summit which brought US and European investors to Israel, and we plan to continue building connections between the US and Israel.”
About Yoggie Security Systems
Yoggie Security Systems, established in 2005 by Shlomo Touboul, former founder and CEO of Finjan Software, and the inventor of Behavior Based Blocking Technology, has developed a unique hardware/software security appliance, the Yoggie Gatekeeper. The robust, credit-card size Gatekeeper combines best-of-breed security applications with proprietary technologies, to protect traveling laptop users from large enterprises, SMBs, and SOHO, as well as individual consumers, against a variety of malicious code attacks by simply plugging it into a laptop, home computer or home network. Yoggie is headquartered in Israel and has several patents pending. For more information, please visit www.yoggie.com.
About Silicom Ventures FUND LLC
The Silicom Ventures FUND is a small venture fund that operates in parallel with Silicom Ventures LLC. The fund's partners are a selected group of prominent high tech veterans, among them Dan Maydan, President Emeritus of Applied Materials, and Dan Vilenski, Chairman of the Board of Applied Materials Israel.
About Silicom Ventures LLC
Silicom Ventures is the largest global business forum for angel and venture capital investors in the United States with over 300 members. Since 1999, its members and partners have invested a total of $64 million in over 45 companies. Silicom Ventures is leveraging its large network of experienced angel investors, venture capitalists, industry executives and technology experts to evaluate over 100 companies a month and offer entrepreneurs a highly effective screening and early funding process. Beyond funding, Silicom Ventures connects qualified companies with potential business partners, clients and business/ technological advisors. For more information, visit www.silicomventures.com.
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