In the Press

A10 Networks Raises $9M For Networking Security Technology

Dow Jones
By Jonathan Shieber
11/14/2006

San Jose -- Network security technology developer A10 Networks Inc. has raised $9 million as it prepares to build out its sales and marketing campaign behind the launch of two new products.

New investors including Enspire Capital Pte. Ltd., H&Q/Asia Pacific and Miven Venture Partners, are joining existing investors Triton Ventures and Harbinger Venture Management for the Series B round. The up-round gives the company a post-money valuation of approximately $60 million, according to A10 Networks founder and chief executive officer, Lee Chen.

In addition to building up its sales and marketing team, the fresh capital will also be used to help staff the three-week-old London headquarters for the European operations of A10 Networks, Chen said. A10 wouldn't provide details of its new products, expected to launch before the end of this year.

The San Jose-based company also has research and development and sales offices in Beijing and counts several Chinese companies among its 60 customers, according to Chen.

Founded in the fourth quarter of 2004, A10 Networks sells a group of products that instantly identifies users based on information contained in their Internet protocol addresses.

"We are doing the user identity data mining," said Chen.

Customers include AmerisourceBergen Corp., China Construction Bank Corp., and Sichuan Telecom Co., a wholly owned subsidiary of China Telecom Corp.

A10 Networks has approximately 100 employees and expects to reach break-even by June 2007, largely on the basis of its new products. In the next six months the company says it will add between 30 and 40 new employees.