CloudShield Technologies, a start-up based in Sunnyvale, California raised $20 million in third round venture financing for its multigigabit, open network services platform. CloudShield’s open network services platforms eliminate the reliance on fixed-function ASIC-based appliances for network application and services delivery. The company said network solution developers, systems integrators, and network operators could port existing applications from network appliances and develop new applications to secure, monitor, measure, and control network traffic, by using its open platform.
Leading the round was first-time investor Foundation Capital. Additional investors include Paladin Capital Group, ComVentures and TPG Ventures . http://www.cloudshield.com
- CloudShield was founded in October 2000 by Peder Jungck, who previously was CTO of yesmail.com (acquired by CMGI). The company is headed by Rusty Cumpston, who previously was CIO of ONI Systems.