Trusted Network Technologies, a firm focused on control of networks both internally and externally, closed on $6 million in a first round of financing on Monday.
Charles River Ventures and Flagship Ventures led the round.
As part of the investment, Jim Matheson of Flagship Ventures and Austin Westerling of Charles River Ventures, join the company’s board of directors.
Steve Gant, a former executive with Internet Security Systems, is founder and chief executive officer of TNT. He has a lengthy background in dealing with security issues. TNT was launched last year.
“We’ve been deliberate in selecting our venture funding partners, looking at their track records in backing successful start-ups, their strategic industry relationships and the partner skills they can bring to bear in helping us grow,” Gant said in a statement. “We are thrilled to be partnering with Flagship and Charles River and feel that this financing validates our unique, effective and straightforward approach to securing enterprise networks. That, in turn, will help us change the way customers think about protecting their critical information assets.”
TNT has developed patent-pending technology that provides network security down to the packet layer of data communications. Packets carry “passports” which are necessary to gain access to a TNT-monitored network. TNT describes its security process as “unique, automatic and unobtrusive.” The company said its technology helps prohibit internal misuse of networks as well as external access by unauthorized users. TNT technology controls both access and applications through policy and digital identities assigned to users.
“Trusted Network Technologies has a breakthrough approach to solving a big customer problem,” said Matheson in a statement. “The bottom line is today’s companies have to find a way to control who goes where on their network – both ‘insiders’ like employees and contractors, as well as ‘outsiders’ (hackers). Trusted Network Technologies is offering these companies a truly revolutionary authentication and enforcement solution that returns control back to the company while dramatically reducing the cost and complexity of building a trusted network.”
Westerling added: “The market opportunity for Trusted Network Technologies is enormous.The Company’s patent-pending software is the first and only solution in the market to take user authentication and access control all the way down to the ‘packet-level’ – making packets carry passports – which is where it has to go in today’s enterprise world of open networks and extreme connectivity. Our investment decision was driven by our belief that internal network misuse and attacks are fundamentally an access control problem. An intrusion is nothing more than ‘unauthorized access’ to a network.”