Syphan Secures £0.5m Investment Backing
Syphan Technologies, the Skipton based, high-speed network security technology business has secured first round investment funding from two regional development funds; The Yorkshire & Humber Equity Fund (YHEF) and the Partnership Investment Finance (PIF) Group totalling £0.5million.
The investment has been raised to support the worldwide launch of Syphan’s ground breaking technology, which has been developed to enable large scale organisations protect their IT networks from the latest security threats and data leakage in the high performance bandwidth environment.
Formed in 2006 Syphan’s team of security specialists has been working closely with the University of Bradford’s School of Informatics to research new ways of combating the latest, multi-staged attacks that threaten high speed corporate networks. The work has culminated in the launch of the Syphan ITC220 security appliance, the world’s first integrated threat control system capable of operating at the 10 Gigabyte network speeds that many companies now need to support their business applications such as Internet telephony and video streaming.
Syphan is initially targeting the managed security service provider sectors in Europe and North America, which is seen as a major growth market, particularly in the current economic climate, as more companies look for ways to reduce the cost of managing their networks without compromising the overall security of their critical data. The Syphan ITC220 will enable service based companies to introduce innovative high-speed security services for their customers.
The investment is needed to enable Syphan to expand its operational team in the critical areas of technical support, business development and marketing; The company will be launching its first security appliance at the major security industry conferences in London and San Francisco early in 2009.