Napera Networks scores $6M

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VENTURE FUNDING

Napera Networks scores $6M

Eric Engleman on Monday, November 3, 2008, 9:45am PST

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OVP | Software as a Service | Startups | Venture capital | Venture Deals

This is a challenging time for startups to raise money.

But some are managing to score funding.

The latest is Napera Networks.

The Mercer Island-based startup, which provides network security to companies, just closed a $6 million first round of funding led by OVP Venture Partners, according to an October regulatory filing with the state of Washington.

Napera is led by CEO Todd Hooper and chairman Chris Slatt, veterans of WatchGuard Technologies.

The 20-person startup makes network security systems that ensure that only authorized computers and users are able to access a network. Administrators can access the system online to see which devices on are on the network.

Napera is targeting small and medium-sized businesses — the sweet spot is companies with 300 to 500 employees, said vice president of marketing Margaret Dawson.

Napera is charging $3,495 for the security appliance plus a first-year subscription. Dawson said the startup has customers in the U.S., Europe and Latin America but declined to say how many or name them.

OVP provided seeding funding for Napera, which was originally called Altus Networks.

More on the company from my colleague John Cook, who wrote about Napera as it emerged from stealth mode earlier this year.

About John Cook

John Cook is co-founder and executive editor of TechFlash. He has been covering the technology beat for nearly a decade, writing about startups, entrepreneurs and venture capital, most recently serving as a reporter/blogger at the Seattle Post-Intelligencer.

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206-876-5441

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