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Kyberpass Secures US$4 Million In Third Round Financing
Strategic investment to further market
expansion of e-security products
OTTAWA,
October 15, 2001 – Kyberpass® Corporation,
a leading provider of e-security software for trusted e-business,
today announced that it has secured US$4 million in a third round
of venture capital financing. This investment will be used to further
Kyberpass’ go-to-market strategy for its e-security products
targeted to Identrus and B2B markets.
The investment was led by NB Capital Venture Partners of Toronto
and Montreal, and includes Covington Capital and McLean Watson.
All three firms were existing investors in Kyberpass and participated
in the company’s second round of financing in June 2000.
“The completion of this round of financing is a strong endorsement
of our go forward strategy and a resounding vote of confidence in
our solutions,” said Ron Walker, president and CEO of Kyberpass
Corporation. “We are strongly positioned to take advantage
of the growing need for e-security applications in the B2B and Identrus
markets.”
Kyberpass provides e-security solutions that secure high value Internet
transactions for the B2B and Identrus market. The Kyberpass TrustPlatform
family of products enables organizations to rapidly deploy PKI-based
applications in days instead of months or years.
“The e-security market is growing rapidly and Kyberpass is
already the clear leader in the market,” said Bryan Kerdman,
partner, NB Capital Venture Partners. “With Kyberpass’
established customer base and strong partnerships, we are confident
that our investment represents a significant business opportunity
for NB Capital. We are pleased to continue working with the extremely
talented Kyberpass team.”
About Kyberpass
Kyberpass delivers a new generation of e-security TrustPlatforms
for Identrus, B2B exchanges and e-government. With millions of licensed
users around the world, Kyberpass' award-winning security solutions
seamlessly allows any application to take advantage of the full
power of any Public Key Infrastructure (PKI), while automatically
implementing customers' unique security policies and dramatically
simplifying administration. Kyberpass enables the implementation
of a total security solution in a matter of days, rather than months
or years. Kyberpass supports all major PKIs and provides the most
flexible e-security infrastructure available on the market today.
For more information, visit www.kyberpass.com.
About NB Capital Partners
NB Capital Partners Inc. is a merchant bank affiliated with National
Bank of Canada and its securities dealer subsidiary, National Bank
Financial. NB Capital Partners focuses on providing equity and mezzanine
growth capital to leading companies in a variety of industries across
North America. For more information, visit www.nbcapital.com
About Covington Capital
Covington Capital Corporation is a leading venture capital firm,
managing over $320 million on behalf of Canadian investors. Covington’s
investment managers have over 50 years of combined investment experience
and focus on growth and maximization of shareholder value through
diversification. For more information, visit www.covingtoncap.com.
About McLean Watson
McLean Watson is a leading private venture capital investor. Based
in Toronto, Canada, McLean Watson also has offices in Ottawa, (Canada’s
national capital and leading technology centre), and Singapore.
It manages over $165 million (Canadian). Investors in McLean Watson’s
funds include several of Canada’s largest pension funds and
money managers, as well as leading members of the technology and
financial services industries. For more information, please visit
www.mcleanwatston.com.
For more information, please contact:
Robert Lendvai
Kyberpass Corporation
613.727.6556 x303
rlendvai@Kyberpass.com
Maggie O’Lett-Patterson
High Road Communications
613.236.0909 x314
molett@highroad.com
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