$6m for Conclusive Logic

Friends Ivory & Sime Private Equity spearheaded the latest round of funding for the maker of internet security products.

Friends Ivory & Sime Private Equity (FISPE) led the third round of financing raising $6m in new capital for security infrastructure management software company Conclusive Logic. Repeat investors included Capiton GmbH and Residex Venture Capital Network.

The proceeds will be used for the continued product and business development activities of its TrustLogic enterprise security middleware product and associated professional services offerings.

Conclusive Logic, which has raised $12.7m over the past 13 months, provides enterprise security middleware that effectively links the underlying technologies of Public Key Infrastructure to the applications they are intended to protect, enabling organisations to realise the benefits of web services for eBusiness.

Wol Kolade, managing director of FISPE, said he was very impressed with the management team’s extensive knowledge and comprehensive understanding of the security industry. He said: “We are confident in their ability to deliver the type of innovative information security solutions that the marketplace is demanding.”

Conclusive, which has offices in Maidenhead in the UK, California and Austria, is currently funded by a consortium of European venture capital firms, which include FISPE, Capiton and Residex.