IID secures first Venture Capital after 17 years
IID (Internet Identity) secured USD8 million from Bessemer Venture Partners. This is the cybersecurity company's first venture capital funding after 17 years, according to Venture Beat.
IID, which was founded in 1996, has operated for almost two decades without any institutional investment and relied solely on its revenues to grow into a company with 65 employees. It will use this new capital to build and market its Active Trust platform. This is sort of a security social network where subscribers or companies can share information about security threats and attacks, said Venture Beat's report.
Co-founder and CEO Lars Harvey told Venture Beat that Active Trust will be released sometime around early 2014 and that this will coincide with the upcoming RSA conference.
The report also stated that the Washington-based cybersecurity company will remain in its present headquarters but will expect growth in terms of the number of its employees in the next 18 months.