Bradford Networks Raises $8 Million

Bradford Networks, a Concord, N.H.-based provider of network access control solutions, has raised $8 million in Series B funding. Updata Partners led the round, and was joined by return backer Windspeed Ventures.

 

PRESS RELEASE

 

Bradford Networks, an award-winning provider of comprehensive network access control (NAC) solutions, today announced it has secured $8 million in Series B funding led by Updata Partners with participation from Bradford's Series A investor, Windspeed Ventures.

 

Bradford will use the infusion of capital to expand its award-winning product portfolio, and expand sales and marketing efforts into new market segments and geographies. The company will also grow the customer support and professional services team that has earned Bradford industry-leading customer loyalty.

 

Updata's investment validates Bradford Networks' out-of-band, edge enforcement architecture, which currently secures more than 1 million network users at more than 400 organizations worldwide. The funding comes on the heels of Gartner's MarketScope for Network Access Control, 2008. “Gartner estimates that this market grew 87 percent from 2006 to a total of $225 million in 2007. Gartner anticipates that the market will grow approximately 100 percent in 2008.” In the report, Bradford Networks received a “Positive” rating; Gartner evaluated 17 NAC vendors for the report.  (Gartner Inc. “MarketScope for Network Access Control, 2008,” by Lawrence Orans, John Pescatore, and Mark Nicolett, published March 25, 2008)

 

Forrester Research reports, “Global 2000 enterprises are leading the charge