Security Software Service Firm EdgeWave Raises $11M

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EdgeWave, which sells infsecurity software and services, has raised $11 million in equity and debt financing to boost sales and marketing efforts for its technology.

The company, originally financed through a special purpose acquisition company called Sandhill IT, initially focused on content monitoring and management. With the 2010 acquisition of a company called Red Condor, EdgeWave began its transition to become more of a full-fledged information technology security company.

EdgeWave combines its security software with a human element of trained information technology security professionals, many of whom hail from the U.S. military. The company’s initiatives around cyber-threat detection are spearheaded by retired U.S. Navy Capt. Mike Walls. Walls most recently commanded the Navy’s global cybersecurity operations, and now oversees threat detection and management services for all of EdgeWave’s small and medium sized business clients and its handful of large enterprise customers.

EdgeWave’s latest financing included $6 million from TVC Capital and another $5 million in debt from Square 1 Bank. With the money the company intends to boost its sales and marketing efforts.

Based in San Diego, the company’s customers include Esurance, Susquehanna Health, and the United States Tennis Association’s U.S. Open Tennis Championship.