GreenSQL Secures $3.8 Million in Series B Funding

Tel Aviv, Israel – May 3, 2011 – GreenSQL, a pioneer in the delivery of unified database security and provider of the most downloaded database firewall engine announced today that it has closed $3.8 million in Series B funding. The investment was led by Rhodium, with participation from existing investor Magma Venture Capital, whichrecognized the market potential of GreenSQL at 2009 and was the first to invest in the company.  Gandyrand 2BAngels also participated in the round. Proceeds of the round will be used to bring the company’s unified database security solution into virtual and cloud architectures.

Building on their vast experience as the most popular database security solution for MySQL - with over 100,000 copies downloaded in more than 198 countries - GreenSQL brings a novel approach delivering an all-in-one database security package for the SMB and Enterprise markets. The GreenSQL family of Unified Database Security solutions provides database Security, Caching, Auditing and Masking in a single package. GreenSQL provides protection from internal and external threats in real time, while improving database performance and demonstrating security compliance. With a single unified management interface, GreenSQL solutions are easy to deploy and maintain.

The company's management includes Amir Sadeh, former co-founder and CEO of Onigma (acquired by McAfee), which developed highly innovative host-based data leakage prevention systems and David Maman, who is a recognized international expert in computer security and  former founder of companies such as Vanadium-Soft, Preacos, and Moksai. 

According to CEO Amir Sadeh,"GreenSQL views Rhodium as a strategic partner that will assist in growing the business and help the company to achieve its mission.  We aim to become the world leader in database security, auditing, performance and compliance products and solutions for the SMB/SME markets and one of the world’s major players in the field of Database security for the enterprise market."

According to GreenSQL research, 80% of SMB’s think that; a serious breach in IT security would hurt their ability to achieve their business goals. However, this market segment is struggling to adapt to the changing IT environment, such as moving IT resources to the cloud (Forrester Research, 2010). With 90% of companies behind in their security compliance (Source: IT Policy Compliance Group, 2009) there is astrong need for GreenSQL's products.

"This is a strong founding team, who are delivering a proven product to a massive $14B market," commented Daniel Recanati, CEO of private investment group Rhodium. "We're thrilled to welcome GreenSQL into our portfolio."

About the Investors:

Rhodium

Rhodium is a private investment firm based in Israel and NY which is dedicated to identifying promising entrepreneurs and to helping them build thriving companies.  The firm focuses on opportunities in the digital media space (Internet, mobile & new-media) and innovative technologies in general.  Rhodium portfolio companies include Outbrain, face.com, Rounds and Hashable.

Magma Venture Capital

Magma Venture Capital is a leading Israeli venture capital firm specializing in early-stage investments in communication, semiconductors, internet and new media. Managing Partners Yahal Zilka and Modi Rosen founded Magma in 1999. Since then the firm has sought out innovative companies, and has guided many to successful exits, such as Provigent, Wintegra, Trivnet, and Phonetic Systems. Our goal is to foster and enable the flow of innovation from an idea's early stages and through a company's emergence as a leader within its dynamic market.

About GreenSQL

GreenSQL provides Unified Database Security Solutions for the SMB/SME and enterprise markets. With an all-in-one approach to database security, the GreenSQL product family offers databaseSecurity, Caching, Auditing and Masking in a single package. As the most popular MySQL firewall solution with over 100,000 copies downloaded in more than 198 countries, GreenSQL is committed to delivering total database security solutions that are easy to deploy and use.