V.i. Labs Secures $4 Million in Additional Funding
Continued Commitment to Help Company Expand its Software Protection and Piracy Intelligence Solutions
Waltham, Mass. — October 17, 2008 - V.i. Labs, a provider of software protection solutions, received $4 million in additional funding to accelerate its product development efforts and expand platform support for its CodeArmor software protection and intelligence solutions. Existing investors, Core Capital and Ascent Ventures, participated in the expansion round.
“As a result of the current financial crisis impacting business and global markets, we expect increased demand for our anti-piracy solutions as a revenue generation source for software vendors experiencing downward trends in their license revenue,” said Joe Noonan, president and CEO of V.i. Labs. “Our new CodeArmor Intelligence product is being adopted by some of largest ISVs that recognize the new opportunity to acquire customers from unlicensed installs of their products attributed to piracy.”
CodeArmor Intelligence was announced in August 2008 and provides an end-to-end system for detection and reporting of pirated software use and generating actionable business leads to allow organizations to recover revenue. The new funding will enable V.i. Labs to accelerate plans to extend platform support to Linux operating systems, a key platform for high-value software applications including EDA, PLM, and CAD industries.
“V.i. Labs has created a compelling set of solutions for software providers to preserve as well as generate revenue,” said Geoff Oblak, general partner from Ascent Venture Partners. “Our participation in this extension round underscores our commitment to the software protection space as well as the innovation V.i. Labs has consistently demonstrated in addressing global piracy issues faced by companies today.”
About V.i. Laboratories (V.i. Labs)
V.i. Labs provides software protection solutions that prevent the misappropriation and theft of intellectual property resident in software applications. Through V.i. Labs’ patented technology, software vendors, embedded system providers, enterprise organizations and government agencies are able to easily detect, gather intelligence, and protect against the threat of piracy, tampering and theft, independent of where the applications are distributed. V.i. Labs is privately held and is headquartered in Waltham, MA. For more information please visit www.vilabs.com.
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