Business Services Industry
Hercules Provides $5.0 Million Financing to ForeScout Technologies, a Leading Provider of Clientless Network Access Control and Intrusion Prevention Solutions
Business Wire, Sept 11, 2006
PALO ALTO, Calif. -- Hercules Technology Growth Capital, Inc. (NASDAQ:HTGC), a leading specialty finance company providing venture capital and private equity backed technology and life science companies with debt and equity growth capital, announced on Sept. 1, 2006 it provided $5.0 million of debt financing to ForeScout Technologies, a leading provider of clientless network access control (NAC) and intrusion prevention solutions. ForeScout is backed by the financial strength of top venture capital companies, including Accel Partners, Amadeus Capital Partners, Meritech Capital Partners and Pitango Venture Capital.
Related Results
"ForeScout is committed to ensuring non-disruptive network access control that can easily integrate with any enterprise network configuration, while also continuing to support industry-leading network security initiatives," said Sam Bhaumik, senior managing director of Hercules. "The Company's products are focused on two critical network security challenges -- controlling access through policy compliance and preventing intrusions, including zero day threats. This focus has enabled the development of a truly innovative product line, providing customers with the ability to gain control over whom and what is accessing network resources."
"The financing provided by Hercules will help us continue to expand our go-to-market plans and manufacturing capacity to meet the rapidly growing demand for our network access control products, while accelerating the development and commercialization of future generation products," said T. Kent Elliott, chief executive officer of ForeScout Technologies. "We are extremely pleased to have the solid financial backing of a partner such as Hercules Technology Growth Capital."
ForeScout's enterprise-class security platform combines clientless network access control solution with a built-in intrusion prevention engine. By coupling these crucial functions into one integrated appliance, ForeScout provides network administrators with the tool needed to ensure the network is protected while managing access and policy compliance of known users and network guests.
About Hercules Technology Growth Capital, Inc.:
Founded in December 2003, Hercules Technology Growth Capital, Inc. is a NASDAQ traded specialty finance company providing debt and equity growth capital to technology-related companies at all stages of development. The company primarily finances privately-held companies backed by leading venture capital and private equity firms and also may finance certain publicly-traded companies. Hercules focuses its investments in companies active in technology and technology-related industries such as computer software and hardware, networking systems, semiconductors, semiconductor capital equipment, information technology infrastructure, Internet consumer and business services, telecommunications, and life sciences. The company's investments are originated through its principal office located in Silicon Valley, as well as additional offices in the Boston, Boulder and Chicago areas. Providing capital to publicly traded or privately held companies backed by leading venture capital and private equity firms involves a high degree of credit risk and may result in potential losses of capital.
For more information, please visit www.herculestech.com. Companies interested in learning more about financing opportunities should contact info@herculestech.com or call 650.289.3060.
About ForeScout Technologies, Inc.
ForeScout's clientless network access control (NAC) solutions enable customers to gain complete control over network security without disrupting end-user productivity. ForeScout's flagship product, CounterACT, combines NAC and signature-less intrusion prevention in a single network appliance that interrogates and controls access of every device and seamlessly integrates with any existing IT infrastructure. ForeScout's NAC is completely transparent and enables enterprises to tailor enforcement to match the level of policy violations, eliminating disruptions during device interrogation. Today, Fortune 1000 corporations and government agencies have deployed ForeScout appliances globally to control access to their networks and resources, defend against hackers and self-propagating malware, and ensure business continuity. ForeScout Technologies is based in Cupertino, California and is backed by the financial strength of top venture capital companies, including Accel Partners, Amadeus Capital Partners, Meritech Capital Partners and Pitango Venture Capital. More information can be found at www.forescout.com.
Forward Looking Statements:
The statements contained in this release that are not purely historical are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements including, without limitation, the risks, uncertainties and other factors we identify from time to time in our filings with the Securities and Exchange Commission. Although we believe that the assumptions on which these forward-looking statements are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forward-looking statements based on those assumptions also could be incorrect. You should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this release are made as of the date hereof, and Hercules assumes no obligation to update the forward-looking statements for subsequent events.
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