Investment Firm, Kennet Partners Leads $13.9 Million Investment in Growth Capital for Prolex Technologies

Based in Hollywood, Florida, IT security provider, Prolex Technologies has announced on Monday, March 28, 2011 that it has closed $13.9 million in growth capital led by Kennet Partners. Other investors who took part in this funding round also include IPVG Corp., which is an IT company listed on the Philippines Stock Exchange. IPVG offers all kinds of IT services which include online gaming, and other services which can benefit from the added security that Prolex Technologies provides.

Founded in 2003, Prolex Technologies is an IT company which has developed innovative IT security systems that are designed to make corporate data from intrusion and exposure. The company’s major platform is designed to provide solutions to close the security breach with DDoS problems. So what exactly are DDoS problems? DDoS problems arise when an IT system when it gets attacked by some kind of malicious software, such as a virus, which can damage the entire network or retrieve classified information to the wrong hands. According to the latest statistics, the number of attacks of corporate and government IT systems by malicious software and viruses have raised to epidemic proportions by 2009. Furthermore, with the current leaks of information by organizations, such as Wikie Leaks, many corporations, organizations, and governments are looking for solutions that can protect their DDoS systems from such attacks.

Typically, a DDoS attack is an attack on a server from a hacker which typically uses a computer, much like good users do, but the difference is that with a DDoS attack, a user is capable of compromising secure information to target its victims to commit such crimes as identity theft, cyber-stealing, and like crimes. In the case of identity theft, intruders can compromise a bank’s or other financial or government institution’s secure database and take sensitive personal information, such as social security numbers, bank account numbers, and other sensitive numbers. Thieves can then use this data to take on new identities to open new credit accounts in someone else’s name or steal money electronically from someone’s bank account.

The Prolex solution includes a vast variety of solutions that provide a multilayer security system for IT networks from intrusions. The first layer is DDoS Mitigation, which minimizes the threat of someone intruding into the network and being able to easily steal any of the sensitive data on the network. The mitigation system works by using Prolex’s proprietary software for mitigating the attacks. This mitigation and control software allows IT operators to easily detect a potential DDoS attack and act upon it before it can do any damage. A DDoS attack is typically a distributed denial of service attack. When a DDoS attack happens without Prolex’s security systems in place, typically, an entire network is down and no one is able to access a website or use the services that are on it.

According to the managing director at Kennet Partners, Javier Rojas, DDoS attacks of IT networks for both the public and private sectors alike has become one of the most frequent and costly cyber-crimes of the 21st Century. Mr. Rojas further added that his team of investors at Kennet Partners has also seen a growing demand for solutions among entities in both the public and private sectors to effectively deal with DDoS attacks at the same time restoring the network and conserving cost. Prolex Technology has a product that has been proven to be effective in mitigating DDoS attacks and provides customers the resources to also control DDoS attacks if they do occur.

Another partner at Kennet Partners, Gustavo Alberelli, further added that cloud computing has become a staple of the vast majority of organizations and corporations IT infrastructures, and as cloud computing has become so prevalent, DDoS attacks are more than likely to be a part of an IT network’s life, and thus Prolex has a technology which can meet an unmet need of many IT providers and their clients.

As part of the agreement of the funding round, both Mr. Rojas and Mr. Alberelli will join Prolex’s board of directors. Proceeds from this funding round will go to help the company expand into new markets on a global scale.

Kennet Partners is a global growth equity firm which primarily invests in US and European companies who are in both the IT and tech industries. The firm currently has $600 million in funds under its management and typically invests in companies who seek the capital to grow and expand into new markets. Some other companies in Kennet’s portfolio include BuyV!P, GoViral, SchoolWires, SpecificMedia, and others.