TELUS invests in Cloud-based security solutions company
TELUS Ventures announced it is investing in ZENEDGE, a California-based provider of Cloud-based web application security and DDoS (distributed denial-of-service) mitigation solutions.
According to a company statement:
TELUS is participating in a $4.0 million Series B investment round, which follows ZENEDGE’s $3.5 million round last year, bringing total venture funds raised by the company to $7.5 million.
This investment will allow ZENEDGE to add new DDoS mitigation centres in Toronto and Amsterdam, expanding its Canadian and European presence. Through this venture investment, TELUS will now offer ZENEDGE cybersecurity solutions to its business customers.
“TELUS is the best strategic partner for ZENEDGE as we share the same goal of ensuring security of web applications and networks for businesses,” said Yuri Frayman, CEO of ZENEDGE.
ZENEDGE will open its Toronto mitigation center later this quarter, complementing the company’s existing two Canadian points of presence in Vancouver and Toronto, and ensuring complete data sovereignty for clean traffic and mitigation on Canadian soil.
“ZENEDGE’s technology is easy to use, flexible and effective, while their team has deep and long-standing expertise in cybersecurity, which is an increasingly-important area of our business,” said Mathew George, Vice-President of TELUS Ventures. “With ZENEDGE, we are strengthening our ability to keep Canadian business customers safe.”
In addition to this investment, TELUS Vice-President and Chief Security Officer Kenneth Haertling will also join ZENEDGE’s board of directors. “TELUS has always made it a priority to provide customers with exceptional security services, whether securing confidential data for major enterprises or delivering better healthcare services through safer technology. We’re looking forward to drawing on ZENEDGE’s expertise to enhance our end-to-end security offerings.”
Mr. Frayman added, “Ken Haertling’s experience and expertise will prove very valuable to our team as we continue to evolve our solutions. We look forward to working with him and the TELUS team to deliver our cybersecurity managed service offerings to TELUS business customers.”