BullGuard receives US$5 million backing

BullGuard receives US$5 million backing

PC and mobile security company BullGuard has received an investment of over US$5 million from DFJ ePlanet Ventures, the investment company behind Skype and other technology success stories.

“Having shown significant year-on-year revenue growth since the company was founded in 2002, BullGuard has a very solid foundation for business expansion,” says DFJ ePlanet Ventures managing director Dennis Atkinson,

“We have tremendous confidence in the management team and, with our investment, we want to accelerate BullGuard’s growth in 2009. Recent forecasts show that the PC consumer segment will continue to grow in the years to come, which means there will be plenty of opportunities for a consumer focused brand like BullGuard.”

BullGuard CEO George Tennet says securing this investment will help the company expand into its next target market: Germany. “We will also use the funds to further strengthen our position in our existing core markets – Australia, New Zealand, the UK, Ireland, Nordics and Benelux."

He added that support and commitment to the channel is a key element in the BullGuard business strategy. "This includes providing all our partners – such as newly signed Synnex New Zealand – with all the requisite resources and expertise to create shared success.”

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