Perfecto Technologies Secures $16 Million

Perfecto Technologies, a developer of
security software for e-commerce operations, completed its third round of
financing, raising more than $16 million.


Led by The Sprout Group, the venture capital
affiliate of Donaldson, Lufkin & Jenrette (DLJ), the round also includes
affiliates of The Goldman Sachs Group Inc. and previous investors Sequoia
Capital, Intel and Walden Israel. Perfecto has now raised a total of $24
million.


” Sprout’s investment in Perfecto represents an ideal opportunity for us to
participate in the large and growing market of e-business security,” said
Farrokh Billimoria, general partner at the Sprout Group and newly appointed
member of Perfecto’s board of directors.


Proceeds from the financing will be used to support further development of
Perfecto’s flagship product, AppShield, which provides security for
customer-facing applications in e-business environments. The funding will
also be used to promote
further growth of the company’s sales infrastructure.


“Funding from such top tier investors further validates our business model,”
said Peggy Weigle, chief executive officer of Perfecto.


“Our goal is to assist e-businesses who
are concerned about providing the highest level of security possible, but
don’t want their development costs or
time-to-market compromised.”

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