Tech security specialist SignaCert raises $658K financing

Oct 31, 2014
Austin Business Journal

Technology security company SignaCert Inc. reported raising $658,703

The Horseshoe Bay, Texas-based company collected the capital from 11 investors, according to a Wednesday filing with the U.S. Securities and Exchange Commission

SignaCert was founded in Portland, Oregon, in 2004 and was acquired by Florida-based Harris Corp. in 2010. Serial entrepreneur Toney Jennings bought the company's intellectual property in late 2012

Now SignaCert's CEO, Jennings said last year he was positioning the company to capture a portion of the information technology compliance and security market. It employed six workers at that time

SignaCert markets to businesses that operate thousands of personal computers. It protects customer networks by pre-approving programs and users — a practice called whitelisting as opposed to blacklisting, which is based on creating a list of banned programs and users

Since computer hackers are constantly creating methods of gaining unauthorized access, keeping up with the blacklisted methods is an endless — and seemingly futile — tactic. Whitelisting is a more efficient strategy, according to Jennings

Jennings was previously the CEO of FastFan Inc., an Austin-based company involved in digital music. Before that, he was CEO of CoreTrace Corp., an Austin software maker acquired in November 2012 by Arizona-based Lumension Security Inc. for an undisclosed amount

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