GeoTrust News & Events

 


GeoTrust Closes $10 Million Investment Round

Funding Used For Continued Expansion of Marketing, Sales and Acquisition Initiatives

February 25, 2002 - Wellesley, MA. - GeoTrust, Inc.(www.geotrust.com), an emerging leader in identity and security solutions for e-business, today announced it has secured $10 million funding led by Prism Venture Partners. Prism has joined the prestigious list of investors that include St. Paul Venture Capital, Castile Ventures, and CB Capital. The investment will support GeoTrust's sales, marketing and acquisition initiatives.

"Because of our execution and our ability to raise money in a difficult climate, GeoTrust is gaining significant momentum in the Internet security market, " GeoTrust CEO Neal Creighton said. "We are delivering solutions that are gaining significant market share as we continue to provide leadership and innovation in our industry."

GeoTrust has emerged as the leading innovator in the 3As ä authentication, authorization and administration ä sector of the Security Market, which IDC projects to grow to $9.5 billion by 2005. According to SecuritySpace.com (www.securityspace.com), GeoTrust garnered 7.86% market share in the digital certificate market in January 2002 seizing share from existing industry leaders.

"We are pleased to lead this round of funding, as GeoTrust is well positioned to take advantage of sizeable opportunities in the security market," said Jack Sweeney, General Partner, Prism Venture Partners. "The GeoTrust team has tremendous experience in the development of security infrastructure software. Prism's investment is a direct reflection of the company's ability to deliver an exceptional product and succeed in this high growth area."

"GeoTrust has superior technology and a strong management team targeting Internet Security. GeoTrust has next generation technology for web trust services that offers the web hosting community a unique combination of identity verification and transaction security ä delivered at a fraction of the time and cost of other solutions, said Zenas Hutcheson, General Partner, St. Paul Venture Capital. "GeoTrust will emerge as a dominant force in the Internet Trust market. We are pleased to be working with the GeoTrust team and Prism."

About Prism Venture Partners

Prism Venture Partners, Westwood, MA, is a leading venture capital firm with early-stage investments in communications, business infrastructure software and healthcare. Since inception in 1996, Prism has rapidly gained industry recognition through the firm's high-visibility investment strategies. With $1 billion in capital under management, Prism's growth reflects the extensive entrepreneurial expertise of its partners, a hands-on approach to working with portfolio companies, an integrated network of investors, and access to growing pool of highly skilled entrepreneurs. To better leverage West Coast investment opportunities, Prism has recently established an office based in San Francisco. Additional information on Prism Venture Partners can be found at www.prismventure.com.

About GeoTrust, Inc.

GeoTrust, Inc.(www.geotrust.com), GeoTrust, Inc., an emerging leader in Identity and Trust Services, helps organizations of all sizes secure e-commerce transactions, trusted identities, and fully managed trusted environments for conducting e-business. GeoTrust's Enterprise Trust Services is the first fully managed PKI-based security service to safely deploy Internet applications for the next generation of business. GeoTrust's Web Trust Services offer hosting providers and businesses with world-class digital certificates for fast transaction security and patent-pending smart-seals to ensure a trusted identity on the web. With more than 25,000 companies in over 80 countries using its technology for transaction security, GeoTrust is the second largest digital certificate provider in the world. GeoTrust can be reached at www.geotrust.com or 800-944-0492.

QuickSSL, eBusinessID, and True Site are a trademark of GeoTrust, Inc.

  # # #

Media Contact:

Schwartz Communications, Inc.
Prospect Place
230 Third Avenue
Waltham, MA 02451
Phone: (781) 684-0770
Fax: (781) 684-6500
E-mail: geotrust@schwartz-pr.com
www.schwartz-pr.com

GeoTrust WebTrust

Customer Login   |   Privacy Policy   |   Site Map
© 2004 GeoTrust Europe. All rights reserved