NSS Labs Raises $7 Million to Grow Cyber Advanced Warning System Solution

PRESS RELEASE

AUSTIN, Texas – April 14, 2015 - NSS Labs, Inc., the world’s leading information security research and advisory company, announced today that it has secured $7 Million in additional equity and debt funding with participation from LiveOak Venture Partners and Chevron Technology Ventures.  The financing will support the growth of the NSS Cyber Advanced Warning System™ launched in March 2015. 

The new investment is a continued commitment to NSS Labs from LiveOak Venture Partners to seed the development of the new Enterprise solution for the Texas-based company.   As part of the financing, Ben Scott, General Partner of LiveOak Venture Partners, joined Venu Shamapant, General Partner of LiveOak Venture Partners; NSS Labs Chairman and CEO, Vikram Phatak; and Founder and Chief Technology Officer, Bob Walder, on the NSS Labs Board of Directors.  Bob Grazer, Venture Executive at Chevron Technology Ventures, has been named an observer on the NSS Labs Board of Directors.

The NSS Cyber Advanced Warning System™ is a groundbreaking real-time situational awareness tool. It provides users the critical information they need to change their security posture before an attack. Based upon real-time attacks and security product capabilities, this tool warns users when they are at risk of being breached.   In addition, executives can use this interactive tool to perform a cyber risk assessment, understand their exposure, and develop a strategic plan.

“With our new Cyber Advanced Warning System, NSS is poised to change the way people approach cyber security,” said Vikram Phatak, Chief Executive Officer.  “By having a clear understanding of what exploits are bypassing security products and which operating systems and applications are at risk, we can help our clients evaluate their security posture with actionable data they can take into the boardroom.”

“Our bet on NSS Labs was firmly rooted in a belief that they can leverage their stellar reputation for security product evaluation into creating a first-in-class SAAS offering that allows an enterprise CISO to get a firm handle on managing their cyber security risk,” said Venu Shamapant, General Partner, LiveOak Venture Partners.  “We are very encouraged by the early response to the Cyber Advanced Warning System, and are excited to be part of the company’s growth phase.”

About NSS Labs, Inc.

NSS Labs, Inc. is the world's leading information security research and advisory company. We deliver a unique mix of test-based research and expert analysis to provide our clients with the information they need to make good security decisions. CIOs, CISOs, and information security professionals from many of the largest and most demanding enterprises rely on NSS Labs’ insight, every day. For more information, visit www.nsslabs.com.

About LiveOak Venture Partners

LiveOak Venture Partners is an Austin-based, early-stage venture capital firm that partners with visionary entrepreneurs who use disruptive technologies and business models to challenge the status quo.  While many of their investments begin at the seed stage, LiveOak is a full lifecycle investor focused on technology and technology-driven service companies primary based in Texas and the Southwest.  For over a decade, the Founders of LiveOak have helped entrepreneurs create industry-leading companies, such as Spatial Wireless (acquired by Alcatel-Lucent), Navini Networks (acquired by Cisco Systems), LifeSize Technologies (acquired by Logitech) and Mavenir Systems (NYSE:MVNR). Visit liveoakvp.com for more information.

About Chevron Technology Ventures

Chevron Technology Ventures pursues business solutions and technologies with the potential to improve Chevron’s base business operations by finding, sponsoring and demonstrating emerging technologies and championing their integration into Chevron to improve business value.  The Venture Capital Team invests in companies at any phase in the development cycle – from providing early-stage seed investment to offering capital for full-scale commercialization – and helps transfer the technology into the business.