Market leader of SaaS Web security combines with Cisco to provide unparalleled Internet protection

 

BALDERTON CAPITAL, the leading European venture capital firm, congratulates ScanSafe, the pioneer and market leader of SaaS Web security, on the sale of the business to Cisco Systems, Inc (“Cisco”), the leading supplier of networking equipment and network management for the Internet.
 
Cisco has agreed to pay a total consideration of $183m for ScanSafe, which will strengthen the group’s existing Web security business.

Balderton Capital invested in ScanSafe when the UK business was founded by brothers Eldar and Roy Tuvey in 2004.  Balderton supported two further funding rounds as the company grew internationally, and it is the largest institutional shareholder.

ScanSafe was recently named the worldwide market leader in SaaS Web security by influential market research firm IDC, with more than four times the market share of all other named vendors. The company’s innovative technology keeps malware off corporate networks and allows businesses to control and secure the use of the Web. ScanSafe powers the Web security solutions offered by leading partners, including AT&T, Sprint and Orange.

With headquarters in London and California, ScanSafe now employs over 150 people and protects customers in over 100 countries. ScanSafe disrupted the Web security market in 2004 when it was the first company in the world to offer comprehensive Web security without the need for premise-based hardware or software. ScanSafe’s innovative Web security solution scans billions of Web requests a day, in real-time, stopping millions of malware instances and protecting thousands of the most demanding organisations around the world.

Bernard Liautaud, board member of ScanSafe and one of the partners in Balderton Capital, said:

“Balderton Capital backs great entrepreneurs and ScanSafe is a fine example of the type of business Balderton loves to invest in. By forming a strategic partnership with ScanSafe, and by investing through the life of the business, we have contributed strongly to the development of the company.”

“We wish the company continued success under its new ownership, and would like to congratulate the founders Eldar and Roy Tuvey for building a global leader in an exciting space.”
 
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About Balderton Capital
Balderton Capital is one of the largest venture capital firms in Europe, committed to finding and helping talented entrepreneurs build great companies. Based in London, it manages $1.9 billion in committed venture capital.

Since 2000, Balderton has invested in over 80 companies, principally in numerous European countries but also in the US and Asia. Balderton’s investments span a wide variety of sectors including communications, consumer services, enterprise software and services, e-commerce, mobile, semiconductors, media and financial services.

Balderton invests in innovative businesses and approaches investment using the principles of teamwork and an intense dedication to building companies of lasting value. The investment partners combine international and Silicon Valley operational experience with company-building expertise.

Notable investments include Bebo (sold to AOL for $850m), Betfair (the online betting exchange), 7digital (the online music download service sold to HMV), LOVEFiLM (the home entertainment subscription service) and MySQL (sold to Sun for $1 billion).

About ScanSafe
ScanSafe (www.scansafe.com) is the pioneer and largest global provider of SaaS Web Security, ensuring a safe and productive Internet environment for businesses. ScanSafe solutions keep malware off corporate networks and allow businesses to control and secure the use of the Web. As a SaaS solution, ScanSafe eliminates the burden of purchasing and maintaining infrastructure in-house, significantly lowering the total cost of ownership. Powered by its proactive, multilayered Outbreak Intelligence™ threat detection technology, ScanSafe processes more than 20 billion Web requests and 200 million blocks each month for customers in over 100 countries.

In 2009, the company was awarded “Best Content Security” solution by SC Magazine Europe for the third consecutive year.