Wednesday, March 26, 2008

Solera Raises $5 Million for its Deep Packet Capture

Solera Networks, a start-up based in Lindon, Utah, raised $5 million in Series B funding for its deep packet capture and stream-to-storage technology. Solera Networks' DS Series is a line of high-performance appliances, including software-only virtual appliances, which capture, record, and archive 100% of network traffic at speeds up to 10Gbps. The captured data is then accessible instantly via Solera Networks' search, alert and archive interfaces, or via any standards-based security, forensics, compliance, analytics or network management application. The new funding was led by Canopy Ventures, which also led the company's Series A round in 2006. Solera

Solera Networks also announced the appointment of three key executives. James Brown was named the company's Chief Operating Officer and Chief Financial Officer; Paal Tveit was promoted to the position of Vice President of Engineering; and Fumiya Minagawa was named President of Solera Networks Japan.

Mr. Brown joins Solera Networks' management team after recently serving on the company's Board of Directors. Over the past few years, he has advised several technology companies, including Solera Networks, on strategy, fundraising and operational matters. Prior to that, he was Executive Vice President and General Manager at OpenTV, where he played a key role in the company's successful IPO and was responsible for the company's applications business unit and its worldwide business development and corporate development activities. Prior to OpenTV, he was a Partner at the law firm of Pillsbury Madison & Sutro in San Francisco.

Mr. Tveit is a 20-year veteran of software and hardware engineering, having most recently served as Director of Engineering at SonicWALL in charge of their SSL, VPN and Common Criteria initiatives. Tveit has also held senior engineering positions at Mainstream Data, Philips/BTS and Unisys. He holds a Bachelor of Science in mathematical sciences and a Bachelor of Arts in political economics from Johns Hopkins University.

Fumiya Minagawa, named as President of Solera Networks Japan, began his relationship with the company as a distributor more than three years ago. He has more than 20 years of experience in engineering consulting, technology sales, product development, and corporate IT management, including five years as Chief Information Officer at Kokusai Kogyo. Mr. Minagawa also served as senior education manager for four years at Sun Microsystems in Japan, where he received the Sun President's Award in 2002. He has also held senior manager positions at Bearing Point and received the coveted Nikkei Publications Grand Prix award for a large-scale deployment of SAP.

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