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.
©2008 V.i. Laboratories, Inc. All rights reserved. V.i. Labs, the V.i. Labs logo,
and CodeArmor are trademarks or registered trademarks of V.i. Laboratories, Inc.
All other product and brand names herein are trademarks or registered trademarks
of their respective owners.
Contacts:
Michael Goff
V.i. Laboratories, Inc.
781.398.3451
mgoff[at]vilabs.com
Susan Lloyd
PAN Communications
978.474.1900
vilaboratories[at]pancomm.com