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Finjan secures $10m funding

Not easy in this day and age...

Not easy in this day and age...

Antivirus firm Finjan has secured a $10m round of funding from existing investors which it hopes will enable it to further cement its position in the crowded security space.

The round of investment was led primarily by Cisco with other investors, Benchmark Capital, Bessemer Venture Partners and Israel Seed Partners also contributing.

Schlomo Touboul, founder and CEO of Finjan, told silicon.com: "This money will help us accelerate our sales and marketing operations and will enable us to increase our market share. It will also ensure continued investment in research and development."

While stories about companies securing large rounds of funding are far less common since the dot-com crash, Touboul believes a sound and proven business model is still enough to attract inward investment.

"We're not a young start-up," said Touboul. "We have very strong year-on-year revenue growth and I think there are far fewer challenges for a company with a proven track record such as ours [when it comes to raising funding]."

However, with any round of investment there is always going to be the question of an exit strategy and the perennial investor concern of what they're getting for their money.

Touboul says to expect more major news out of Finjan before the end of the year but denied his company would welcome advances from larger firms despite a spate of recent acquisitions in the sector and suggestions that there is far more consolidation to come.

Touboul is confident Finjan's investors share his long-term vision for the company and have confidence in its "unique technology" and "unique advantage" and believes they would not be tempted if a major player came knocking on their door with a sizeable offer.