Summary:

The security vendor will use new funding to expand into new markets and build up partnerships.

cyber security
photo: Thinkstock

Security vendor Verdasys now has $12 million in fresh funding and a new CEO in Kenneth Levine, a former executive from McAfee, a Verdasys competitor. He is stepping in for Jim Ricotta, who held that post for three years.

The company’s claim to fame is endpoint security and data protection for companies including GE, Siemens and DuPont. The new funding, led by current backer GE Pension Trust as well as a new investment from Brookline Venture Partners, brings total investment in the Waltham, Mass., company to $65 million.

The new money will help be used to build new partnerships and to fund expansion into new markets and new data protection applications, according to a statement.

Verdasys makes some big claims for its crime-fighting prowess: It said it caught a thief trying to steal drawings for a new Ferrari model and helped the FBI catch two Chinese nationals stealing intellectual property from Dupont and Valspar.

In addition to McAfee, Verdasys also competes with RSA and Symantec.

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