The San Mateo, California-based company received $15m in a Series C funding round from RBC Technology Ventures, plus existing investors Arrowpath Venture Partners, Intel Capital, Trident Capital, Wasatch Venture Fund, and Zions SBIC, a wholly owned subsidiary of Zions Bank, as well as a debt facility provided by Comerica.
Kevin Talbot, managing partner at RBC Technology Ventures, will join TriCipher’s board of directors.
The latest funding round follows the $10.1m Series B the company received in February 2005. Prior to that in October 2004, it secured an unusually large Series A funding round, also of $10.1m from Trident Capital, ArrowPath Venture Capital, and Wasatch Venture Capital, as well as Intel Corp.
TriCipher was spun off from the Japanese systems integration firm Nippon Systems Development Inc in 2005, after being incubated as a security division since 2000. The company offers user authentication security software that protects the online channel against fraud and identity theft. It typically sells to the banking, financial services, and insurance sectors.
The funding will be used for the company’s R&D processes, as well as to expand global sales and marketing activities, and diversify the company’s customer service offering.
