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Neoteris raises more money

By Tim Greene , NetworkWorld.com , 03/26/2003

SSL remote access vendor Neoteris has raised $17.5 million in a third round of funding, bringing its total funding to about $37.5 million.

Battery Ventures was the lead contributor to the latest round, and was joined by previous investors Jim Clark, The Barksdale Group and New Enterprise Associates.

Mark Sherman, a general partner in Battery Ventures, takes a seat on Neoteris’ board of directors.

In announcing the funding, the company also said it has more than 250 customers for its Instant Virtual Extranet gear, which enables secure remote access to corporate networks from any computer with a browser by using the Internet as the WAN connection.

The company claims that a quarter of its customers are either members of the Fortune 1000 or Global 1000 businesses.

Others selling SSL-based remote access gear include Aspelle, Aventail, Netilla, uRoam and Whale.

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