Red Lambda Closes $10M Financing

Red Lambda, Inc., an Orlando, Florida-based provider of network security software for enterprise, education, government and service provider organizations, has closed a $10m Common Stock financing.
The round was led by Dr. Saad Al-Barrak, former Vice Chairman and Managing Director of Zain Communications, with participation from V2R Group, a U.S.-based company focused on the commercialization and management of highly innovative technologies, and an angel fund.
The new capital will be used to support marketing initiatives, expand in the U.S. and overseas, complete the company’s product portfolio, and increase the management team.
In conjunction with the financing, Red Lambda has announced the release of the latest version of its AppIronTM Grid Platform, which leverages virtualization and grid-computing technology to address the computation-intensive network security challenges facing enterprises, service providers and government organizations.

It also contains a technology that identifies, isolates and takes action on network security and compliance threats such as botnets, intrusions, anomalies, advanced persistent threats and illicit file sharing.


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