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Bullguard secures $5 million investment

by Scott Bicheno on 9 December 2008, 11:54

Tags: bullguard

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What credit crunch?

Bullguard is a security software company that has based its success on a good relationship with the channel, underpinned by a popular rebate scheme. It has grown rapidly in recent years, but is now trying to consolidate that growth after the departure of its CEO earlier this year.

The latest development in this process is the securing of five million dollars of investment from investment company DFJ ePlanet Ventures, which is also an investor in Skype. This is a particularly good effort at a time when credit is supposed to be almost impossible to secure.

Dennis Atkinson, MD of DFJ ePlanet Ventures, said: "We have tremendous confidence in the new management team and with our investment we want to help BullGuard accelerate their growth in 2009. Recent forecasts show that the PC consumer segment will continue to grow in the years to come, which means that there will be plenty of opportunities for a consumer focused brand like BullGuard. "

New Bullguard CEO, George Tennet, said: "Securing this investment will help us expand into our next target market - Germany. We will also use the funds to further strengthen our position in our existing core markets - UK, Ireland, Nordics, Benelux and Australia and New Zealand. In the UK we will be expanding with a new Sales Director to add to the channel account team."

 



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