Venture Firm To Fund Online SecurityOffer
REDWOOD CITY, Calif. - (04/15/05) -- PassMark Security, which introduceda two-way online authentication system at Stanford FCU last month,said Menlo Ventures, one of the leading venture funds, has agreedto invest $7.7 million in the company. Menlo, one of SiliconValley's most successful venture capital firms, has helped fundsuch well-know credit union servicers as Digital Insight and OpenSolutions Inc., as well as Hotmail Corp., UUNet Technologies andF5. PassMark's Two-Way system is targeted at combating the growingincidents of online by authenticating the user to the site, and thesite to the user. Menlo Ventures recently raised $1.2 billion forits 10th venture fund, one of the largest pools of start-upinvestment capital available.