Robert Davis III, who was named Oculan’s full-time chief executive officer earlier this month, is quickly putting his stamp on the network security management hardware company.
Oculan announced Tuesday that it had received a $5 million investment from Soros Equity Partners. Concurrent with the announcement, Davis said Oculan would expand its channel sales program, target small businesses for its product, and take the company to profitability.
“We are naturally pleased to receive funding from Soros Private Equity Partners, as its participation further validates our strong business plan,” Davis said in a statement.
The company, which was founded in 2001, raised $5 million in 2001 in a C round from Soros.
Oculan now has more than 200 channel sales partners. Davis said Oculan’s products are priced to help small businesses deal with increasing security threats. Its lead product is known as OpticNerve, and it has won several awards.
“Oculan has pioneered the concept of delivering enterprise quality network management and intrusion technology to the previously overlooked small business market at a price that the highly independent and cost-conscious SMB leader trusts,” Davis said. “Even in a difficult economy, solutions like ours that quickly demonstrate real, significant value find an eager market.”
Oculan hinted new investment was coming when Davis’ hire was announced on March 5. He had been serving as interim CEO since December. Davis formerly serviced as president and CEO of Tavve Software and also was a vice president at IBM and Lucent.