OVP backs RedSeal |
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OVP backs RedSeal
OVP Venture Partners was one of the most active venture capital firms in the country last quarter, according to data from TechCrunch. And the deals keep flowing. Today, the Kirkland venture capital firm led a $12 million investment in RedSeal, a San Mateo, Calif. software security firm.
RedSeal's technology automatically assesses an organization's cybersecurity makeup, attempting to identify data breaches before they occur. Its customers include Microsoft, Petsmart, Honda and Gap.
As a result of the deal, OVP's Mark Ashida has joined the board. OVP has been busy lately, but a significant portion of the deals are occurring outside the Seattle area.
For example, the firm recently participated in the $45 million round for Mountian View, Calif.-based Complete Genomics, the $11 million round for Advanced Inquiry Systems and the $14 million round for Boston's Novomer.
It looks like the OVP partners are going to be spending a little more time at Sea-Tac airport in the coming year
The firm also has been investingating deals in the security space, including Seattle-based Vantos and Mercer Island-based Napera Networks. Other investors in RedSeal -- which has raised more than $43 million -- include Venrock, Jafco Ventures, Sutter Hill Ventures and Leapfrog Ventures.
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