(1888PressRelease)
June 07, 2008 - NEW YORK - Syntensia AB, a pioneer in subscription Network Security-On-Demand solutions, has secured financing of $3.5 million with an option for an additional $4 million through a share issue directed to InnovationsKapital, a leading Nordic venture capital firm, and a group of private investors in Sweden and abroad. Syntensia chairman is John Wattin.
Syntensia, headquartered in Stockholm and with sales offices in twenty major Indian cities, Philippines and Cambodia was established in 2005 by Kaushik Thakkar. It focuses on providing all-in-one network security solutions for SMB in high growth emerging markets.
"This investment allows Syntensia to continue our solid growth in India and our expansion in Cambodia and the Philippines," said Syntensia CEO Johan Hansson. "It also makes possible expansion into other Asian markets. We are particularly pleased to have attracted the support of InnovationsKapital, which has a reputation for backing innovative growth companies in Scandinavia."
“Syntensia is capitalizing on the powerful combination of a low cost, high demand product offering to fast growing markets. We are very pleased with our investment in Syntensia and feel very excited about the company’s potential,” said InnovationsKapital’s Investment Director Magnus Berglind.
Syntensia's WK product series is the most cost-effective and comprehensive network security solution for SMB available in the market today. These hardware-based appliances are Plug and Play ready, all-in-one network security solutions that integrate seven crucial security check points - Firewall, VPN, Intrusion Protection, Anti Virus, Spam Elimination, Surf Protection and Spyware Guarding and are available for a nominal subscription fee.
Syntensia’s subscription model typically bundles everything into its single subscription fee, including automatic updates, maintenance and 24X7 technical support, thus enabling organizations to eliminate upfront costs, providing a predictable cost structure, and ensuring quality of service and the freedom to re-evaluate the solution decision any time.
InnovationsKapital (www.innkap.com) was founded in 1994 and is a leading independent venture capital firm for innovative growth companies in the Nordic region. The business, carried out from offices in and Stockholm, Gothenburg and New York, is focused on investments within ICT and Healthcare & Life Sciences — dynamic sectors that are rapidly expanding and where Nordic research plays an important role. The capital is provided by highly reputable Swedish and international institutional investors.
Syntensia AB (www.syntensia.com) is a European Company headquartered in Stockholm, Sweden. Established in 2005, Syntensia is a pioneer in Security on-demand solutions sold on subscription basis. Syntensia focuses on providing all-in-one network security solutions for SMB in high growth emerging markets.
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