Security software startup gains $10M in funding

Ounce Labs, whose software is designed to help companies determine whether their applications are secure before going into production, Tuesday said it has raised US$10 million in second round venture funding.

The company says it plans to use the funds to expand sales and marketing efforts surrounding its Prexis product, which is used to analyze source code written in Java, JavaServer Pages, C and C++. Prexis, which supports Windows, Linux and Solaris development platforms and Windows and Linux runtime environments, gives insight into where software might be vulnerable to attack and how to proceed with fixing it if need be.

Ounce Labs launched in 2002 and has been selling its software since June. It has about two dozen installations.

Investors in the second round of funding included BlueStream Ventures, Commonwealth Capital Ventures LP and Greylock Management. The latter two firms put a combined US$6 million into Ounce Labs in February in the company's initial round of funding.

Ounce Labs is led by President and CEO Jack Danahy, who previously founded Qiave Technologies, a maker of content protection software that was bought out by WatchGuard Technologies in 2000. The company's director of engineering and director of marketing also were with Qiave.

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