For Immediate Release
Bluefire Security Technologies Selected to Present At Mid-Atlantic Venture Association’s Capital Connection 2005
Baltimore, MD May 24, 2005 — Bluefire Security Technologies, a Baltimore-based firm that provides security software solutions for mobile handheld devices, announced today it has been selected to participate in Capital Connection 2005. The annual investment fair produced by the Mid-Atlantic Venture Association (MAVA) will be held May 31 and June 1, 2005 at the Baltimore Marriott - Waterfront.
“Considering the world class companies that have debuted and drawn investor interest at Capital Connection in years past, Bluefire Security Technologies is honored and pleased to have been invited to participate,” said Bluefire CEO Mark Komisky. “We believe our selection not only reflects the strength of our management team and validates our early success as a company, but is powerful indication of the growing demand from enterprises for wireless device and data security.”
“As always, we employed a rigorous selection process when choosing the companies that would fill the coveted slots for Capital Connection 2005,” said Joe Zell, Co-Chair of Capital Connection 2005 Selection Committee and General Partner of Grotech Capital Group. “The companies chosen to participate in the region’s premier venture event join an elite class of regional successes stories who all debuted at Capital Connection, including AOL, Advertising.com and UUNet.”
Founded in 2001, Bluefire’s products enable a centrally-managed security infrastructure that allows enterprises to extend their notebook/desktop security approach to mobile handheld devices – including wireless personal data assistants (PDAs) and smartphones. The Bluefire Mobile Security® Suite 3.5 and Bluefire Mobile Security® VPN 2.0 provide the industry’s only fully integrated security solution including authentication, encryption, integrity monitoring, firewall, VPN, logging and central management. The company has drawn considerable interest from investors and technology partners alike and has raised $20 million in three rounds to date. Bluefire investors include Motorola Ventures, Grotech Capital, JK&B Capital, Walker Ventures, BlueCloud Ventures, the Maryland Department of Business and Economic Development and the Maryland Angels Council.
“The investors who come to Capital Connection 2005 will see some of the most fundable entrepreneurial companies in the market today,” said Tim Meyers, Co-Chair of Capital Connection 2005 Selection Committee and General Partner of Updata Partners. “These presenting companies demonstrate the continued strength and high quality of the entrepreneurs who are selected to participate in one of the venture industry’s most successful venture fairs.”
Bluefire’s Mark Komisky added, “We look forward to seeing some old friends and meeting potential new investors at Capital Connection 2005. Our goal is to raise $10 million by early 2006, and continue our development of security solution software for additional operating systems and device hardware. We have a vision of a productive, more secure wireless future for mobile enterprises.”
About Bluefire Security Technologies, Inc.
Bluefire Security Technologies provides a complete security solution specifically designed for mobile handheld devices. The Bluefire Mobile Security® Suite is the industry’s only fully integrated security solution including authentication, encryption, and integrity monitoring, firewall, logging and central management. Bluefire enables the secure deployment and use of handhelds across the enterprise by allowing handheld devices to be secured as part of the IT network infrastructure. Bluefire Security Technologies recently won the Ernst & Young Entrepreneur of the Year 2005 - Maryland Award.
Bluefire Mobile Security® solutions support the Microsoft Windows (WM) 2003, Windows Mobile 5.0 and Palm operating systems; are available directly from Bluefire and Software Spectrum in the United States, and internationally through Ubitexx GmbH (Germany) and Synergy Software Systems (UAE); and are certified by Cingular Wireless.
For more information email info@bluefiresecurity.com or call (410) 637-8160.
About MAVA/Capital Connection 2005
Produced by the Mid-Atlantic Venture Association (MAVA), Capital Connection 2005 is one of the nation’s most successful and influential venture events. Over the years, MAVA venture fairs have helped to shape the region’s entrepreneurial economy, generating more than $2.4 billion of venture investments in the presenting companies. MAVA represents private equity and venture capitalists with investment interests in the mid-Atlantic. Founded in 1986, MAVA provides a wide range of programs, information and forums designed to facilitate quality deal flow, encourage collaboration, and foster relationships with entrepreneurs and investors in order to promote private equity investment. Membership includes more than 500 venture capital professionals representing nearly 125 firms with collectively more than $10Billion in capital under management. In addition, more than 250 key professional service providers from the legal, financial, executive search and consulting fields are also MAVA members. For more information, please visit www.mava.org.