Palisade Adds On $2.6 Million in Funding

Based in Des Moines, Iowa, Palisade Systems, Inc., in Data Loss Prevention solutions for the small- and medium-sized enterprise, has just completed $2.6 million in venture funding.

The lead investors in this round were DeWaay Investment Partners, Cedar Valley Venture Fund, and Principal Life Insurance Company. The additional capital will assist Palisade Systems in rapidly growing sales and marketing efforts.

“Palisade Systems prides itself on being the easiest-to-use data loss prevention system. With our recent announcements – PacketSure 7.6 and PacketSure Managed DLP – we provide solutions for the small- and medium-enterprise that need to have a comprehensive compliance solution in place, as quickly and easily as possible,” said Christian Renaud, CEO and president of Palisade Systems. “We count a wide variety of companies as our happy and loyal customers – ranging from school systems to credit unions to healthcare providers – and continue to provide the data loss prevention solutions that help them protect their sensitive and confidential information and adhere to applicable regulations for their industries.”

In 2009, a year marked by slow-growth for most technology firms, Palisade Systems has shown consistent growth with both new and existing customers.

“We are very excited to be involved with Palisade Systems at a time when the demand for compliance software continues to grow exponentially,” said Adam Claypool, managing director, DeWaay Investment Partners. “Palisade Systems is a leader in the data loss prevention market, focused on the growing small- and medium-sized enterprise, and is well positioned to become the standard in managed and hosted loss prevention.”

With the investment, Palisade Systems will also continue to expand its PacketSure Managed DLP offerings, working with more managed service providers, as well as continuing to update its flagship PacketSure DLP suite to continue to meet the needs of small- and medium-sized enterprise, including being the easiest-to-use and implement data loss prevention solution.