Austin’s Krimmeni Technologies raises $11.7 million for development

Oct 30, 2014
Austin American Statesman

Austin-based cybersecurity firm Krimmeni Technologies has raised $11.7 million to accelerate development of its technology for cloud-based data centers

The 11-person company also plans to expand sales and marketing efforts. It is hiring software engineers with experience in cloud services, embedded software and cybersecurity

CEO David Lundgren said Krimmeni was founded on the idea that cloud-based data centers need secure communications technology based on both hardware and software to protect from sophisticated attacks that steal highly confidential data and critically valuable data from financial firms, government institutions and individuals

Krimmeni, which was founded in 2007, says it is developing low-cost and low-power platform security products that use use hardware, software and cloud-computing technology to prevent attacks. Its products also will help data centers securely network with billions of unsecured computing devices, such as embedded controllers in plants, thermostats in homes and wearable fitness devices and automotive sensors

Lundgren’s background includes senior roles at Hewlett-Packard, Pixar and Apple, where he led product design of the i Mac, Titanium PowerBook and other products. He left Apple in 2001 to join Global Locate, a startup that delivered GPS in mobile devices and was acquired by Broadcom. He joined Broadcom, where he ran the company’s Location Based Services

Krimmeni received the funding from Third Point Ventures of Sunnyvale, Calif., and Pelion Venture Partners of Salt Lake City. The company has raised a total of $12.9 million since inception

Robert Schwartz, managing partner of Third Point, said “With its seasoned management team and cutting-edge technology, Krimmeni is well positioned to impact and change the landscape of the large and growing security market.”

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