Ingrian Networks Raises $22 Million in Second-round Financing From American Express, Prism Venture Partners, Jafco Ventures, and Partech International

Business Wire, Feb 19, 2002

Business/Technology Editors

REDWOOD CITY, Calif.--(BUSINESS WIRE)--Feb. 19, 2002

Ingrian Networks, the leader in secure networking, today announced it has raised $22 million in second-round financing from American Express (NYSE: AXP), Prism Venture Partners, JAFCO Ventures and Partech International. These new investors join existing investors Bill Joy, co-founder and chief scientist of Sun Microsystems (Nasdaq: SUNW), Andy Bechtolsheim, founder of Granite Systems, and Roy Thiele-Sardina, co-founder of Tasmania Networks who also invested in this round, bringing the company's total funding over two rounds to more than $26 million. In addition, Ingrian Networks is adding three members to its board of directors: Jack Sweeney, General Partner of Prism Venture Partners, Jon Callaghan, Managing Director of JAFCO Ventures, and Glenn Solomon, General Partner of Partech International.

"We chose to invest in Ingrian Networks because we believe that the company's platforms can effectively address the Internet data security needs that leading companies require and that online customers expect," said Pierric Beckert, Senior Vice President, Investments and Business Development, American Express. "We share and support Ingrian Networks' commitment to developing and deploying innovative online security solutions, and expect to leverage the company's technology for the benefit of our customers."

"Many companies are now realizing their network infrastructures are most vulnerable to security breaches deep inside the enterprise -- specifically in their backend databases and storage systems," said Jim Vogt, President and CEO of Ingrian Networks. "Ingrian Networks' Secure Networking platforms address this gap by providing a single platform for managing all public and private keys, a method for securing data in transit and storage within the network and importantly, the ability to ensure this data security without compromising network performance. This latest round of funding allows us to further develop our position as the leading secure networking company."

One of the unique features of the Ingrian Networks platform is its ability to secure data on web servers and databases by using powerful key management and innovative security technologies based on widely adopted encryption standards. These capabilities provide an additional, independent layer of defensive measures against attacks by hackers, viruses and Internet worms such as Nimda and Code Red, as well as future, as yet unidentified threats. Ingrian Networks' products allow companies to leverage their secure critical B2B and B2C transactions in new ways, offering a high level of security without sacrificing the performance, speed and flexibility companies expect from their network.

With its initial round of funding of $4 million, Ingrian Networks developed and built its first generation of Secure Networking platforms and gained traction with key customers, including leading financial and Government institutions, Internet data center hosting providers and systems and networking vendors. This additional funding will allow Ingrian Networks to further develop its platforms, expand its operations and increase its sales and marketing efforts.

Visit Ingrian Networks in booth #1614 at the 2002 RSA Conference, February 18-21 at the McEnery Convention Center in San Jose California.

About Ingrian Networks

Ingrian Networks is the global leader in secure networking. Ingrian Networks enables its customers -- global financial institutions, Internet data center hosting providers and systems and networking vendors -- to protect critical network data in transport and in storage without significant capital expenditure, network complexity or compromise in performance. The company's secure networking platforms integrate FIPS 140-1, Level 2 validated key management, backend data encryption, access management, intrusion protection, secure content caching, content switching and SSL/TLS acceleration into a single platform for a completely extensible and highly secure networking infrastructure.

Founded in January 2000, Ingrian Networks is headquartered in Redwood City, California, and is guided by some of the world's leading technologists including Bill Joy, co-founder and chief scientist of Sun Microsystems; Andy Bechtolsheim, founder of Granite Systems; Roy Thiele-Sardina, co-founder of Tasmania Networks; Martin Hellman, co-inventor of public key cryptography; and Jim Vogt, Ingrian Network's President and CEO, formerly of Nortel Networks. For more information, visit www.ingrian.com

About American Express

American Express Company is a diversified worldwide travel, financial and network services company founded in 1850. It is a world leader in charge and credit cards, Travelers Cheques, travel, financial planning, business services, insurance and international banking. For more information, visit www.americanexpress.com

About JAFCO Ventures

JAFCO Ventures is a leading global venture capital firm that has been ranked in the Top Ten Listings of such publications as Forbes and Red Herring for 1999 and 2000. The fund has over $750 million under management and the team has over 155 years of experience in private equity investing, entrepreneurialism and operations. For more information, visit www.jafco.com