Blue Security, a start-up developing innovative anti-spam and anti-spyware solutions, today announced it has secured $3 million in seed-round financing from Benchmark Capital.
The company stated that funding will support the continued development of a new solution to fight against spam and spyware. Blue Security is preparing a launch later this year.
Benchmark Capital general partner Mark Kremer, who will join Blue Security’s board of directors, said, “We are looking forward to working with Blue Security in bringing this new solution to market. Blue Security’s innovative approach, its experienced team, as well as the scope of the market, makes this enterprise an exciting venture.”
Blue Security, which was founded in 2004 by entrepreneurs Eran Reshef and Amir Hirsh, is based in Menlo Park, California, and Herzliya, Israel.
Blue Security is the third venture for Reshef, who was previously the founder of web application security company Sanctum (acquired in July 2004 by US business management software company WatchFire), and of security risk management pioneer Skybox Security.
Hirsh, now Blue Security’s executive vice president of solutions, was previously vice president of research and development for Riptech, a managed security service provider acquired by Symantec in July 2002 for $145 million.
Blue Security's stated mission is to help diminish the burden of spam and spyware for both consumers and enterprises. Its mission is to break the economics of spammers and allow consumers and enterprises to reclaim their Internet experience. The company’s offering, based upon a "Do Not Disturb" registry concept, will differ from current solutions that are technology based and reactive in methodology to take a proactive approach in blocking spam and spyware.
Reshef said, “Current statistics estimate that 70% of e-mail traffic today is sent from spammers. There is simply no viable solution currently available. Today’s technologies are nothing more than stop gaps trying to coexist in the presence of spam and spyware, rather than eliminating them. Picking off one piece of spam at a time does nothing to address the business of spammers. It does, however, impact the delivery of legitimate e-mail. We aim to break the business model of spammers through a new approach that will unite the anti-spam and anti-spyware community.”
Published by Globes [online], Israel business news - www.globes.co.il - on Monday, April 04, 2005