Oculan, a developer of network security and control technology for small and medium businesses, has shut its doors.

The company said it was unable to raise additional funding. It employed some 50 people.

Oculan raised $10 million, including a $5 million in March of last year. The company also hired Robert Davis as its new CEO at that time.

Oculan was best known as the developer of its “Purple Box” product.