OTTAWA, June 25, 2013 /CNW/ - AFORE Solutions, Inc., a leading provider
of cloud security and management solutions, today announced that it has
closed a $6M USD financing round from a group of investors led by the
BDC Venture Capital IT Fund. AFORE will use the capital to expand the
company's marketing, sales and operations capacity to meet growing
customer demand, and to accelerate next generation IP and product
CloudLink® Secure VSA provides encryption of data at-rest and in-motion
in virtualized IT and multi-tenant cloud environments. The CloudLink
security solution enables regulatory compliance (HIPAA, PCI, SOX), and
delivers comprehensive protection of sensitive data with AES-256
encryption. CloudLink has been designed to work in multi-tenant,
private, hybrid and public clouds including VMware's vCloud™, Microsoft
Azure™, CA's AppLogic® and Amazon® EC2 and VPC environments.
AFORE is partnering with IT industry leaders including VMware, CA, VCE
and has recently joined EMC/RSA Select Partner program to address
growing customer demand for protection of sensitive data in virtualized
"As cloud computing adoption continues to exceed expectations, AFORE
Solutions and its partners have applied CloudLink's unique high
performance multi-tenant encryption solution to satisfy security and
compliance issues related to Cloud deployments," said Alex Berlin,
President and CEO, AFORE Solutions. "With an established and growing
global enterprise and cloud service provider customer base, the funding
will enable the company to focus on meeting the growing global demand
and to accelerate the next generation products ideas."
"Protection of sensitive data is the dominant concern enterprises face
regarding the adoption of cloud computing. The traditional methods for
securing data are no longer relevant in Cloud Computing and AFORE's
CloudLink portfolio perfectly addresses this concern," said Ron
Warburton, Managing Partner at BDC Venture Capital IT Fund. "Our
investment in AFORE Solutions is consistent with our belief that
intelligent security solutions will play a critical role in the
adoption and growth of Cloud Computing."
"The amount of data in public and private Clouds is growing at an
astronomical rate. Our strategy and vision for securing this data has
been validated by key partners VCE™, EMC™, CA™ , Cisco™ and RSA™ and by our early adopter customers in healthcare, financial, F500,
government and Cloud Service Providers. This investment will help
accelerate that strategy and vision for the CloudLink portfolio of
security software solutions," stated Jonathan Reeves, Chairman and CSO
of AFORE Solutions, who is driving the company's product and marketing
About AFORE Solutions Inc.
AFORE Solutions is a leader in cloud security and management. AFORE's
CloudLink® software security appliance combines cloud infrastructure
security and manageability with cloud performance monitoring.
Enterprises and cloud service providers use CloudLink to protect
mission critical data in motion and at rest while managing SLA's for
security compliance and service performance. For more information
CloudLink® and AFORE are registered trademarks of AFORE Solutions, Inc.
Any other brands and products referenced herein are acknowledged to be
trademarks or registered trademarks of their respective holders.
About the BDC VC IT Fund
The BDC Venture Capital IT Fund is a $150 million fund with offices in
Vancouver, Toronto, Ottawa, Montreal and Calgary as well as strong
linkages to Silicon Valley. Investments are typically early stage
companies in the enterprise, Internet and mobile sectors. The fund has
invested in many successful companies including Layer 7 (acquired by CA
Technologies), Radian6 (acquired by Salesforce), Opalis (acquired by
Microsoft), Bycast (acquired by NetApp) and Q1 Labs (acquired by IBM).
About BDC Venture Capital
With more than $1 billion under management and more than 25 years of
industry experience, BDC Venture Capital is an investor of choice
focusing on IT, health, and energy/clean technology companies, as well
as venture funds, with high growth potential. From seed through
expansion to exit, our mandate is to help build outstanding Canadian
companies, while working to create a sound financial ecosystem for
Canadian technology ventures. Find out more at www.bdc.ca/vc or on Twitter @BDC_VC.
SOURCE: AFORE Solutions Inc.
For further information:
+1 (613) 224-5995
BDC Venture Capital