OPAQ Networks raises $22.5 million in Series B funding

OPAQ Networks, which recently acquired fellow cybersecurity company FourV Systems, has now closed a $22.5 million Series B funding round.

The Virginia-based company, founded in 2013, offers a cloud-based management platform which has threat management capabilities and helps organisations to increase visibility and control over mobile and remote users as well as SaaS applications, thereby strengthening security and reducing costs.

The funding round was led by new investors Greenspring Associates, whose portfolio includes companies such as Proofpoint and Cloudflare. Previous investors Columbia Capital and Harmony Partners, who contributed to OPAQ Networks’ Series A funding round last year, also participated. The Series A funding raised $21 million, which puts total investment in the company at $43.5 million.

According to OPAQ Networks, the funds will be used to accelerate growth and support the company’s strategy of delivering its solutions through channel partners, including Cloudflare and Palo Alto Networks.

In January, OPAQ Networks announced that it had been named ‘Best Network Security/Enterprise Firewall Solution’ in the 2017 GSN Homeland Security Awards.

“It’s an honor for OPAQ to be recognized by GSN for the value the OPAQ Cloud is delivering to government,” said OPAQ Networks’ CEO, Glenn Hazard. “Our service is enabling our partners to provide robust enterprise-grade network security to state and local governments in the most cost-effective, scalable way.”

In the same month, the company was also a finalist in the ‘Best Emerging Technology’ category at the SC Excellence Awards.

Researcher, writer, recovering medievalist. Currently particularly interested in the cybersecurity solutions market, cyber insurance/risk modelling, and IoT security.

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