Morgan Stanley Venture Partners Backs Penetration Testing Software Provider
BOSTON, April 11, 2005 – Core Security Technologies, provider of CORE IMPACT, the first-to-market penetration testing product for assessing specific information security risks, today announced it has successfully closed a $4.5 million second round of funding from Morgan Stanley Venture Partners. This investment will allow Core to aggressively expand sales and marketing, further enhance product development and strengthen customer support services. In addition, Ghassan Bejjani and Patrick Gallagher of Morgan Stanley Venture Partners, which was the sole participant in the round, have been appointed to Core’s Board of Directors.
Until now, penetration testing has been a complicated manual process that could only be accomplished by specially trained security experts with years of experience. However, with CORE IMPACT, the first automated, commercial-grade penetration testing solution on the market, any network administrator can now safely and efficiently determine exactly how an attacker can get control of their valuable information assets. CORE IMPACT reduces the cost, time and complexity of comprehensive penetration testing.
“Enterprise networks are under constant assault from viruses, worms and malicious hackers,” said Ghassan Bejjani of Morgan Stanley Venture Partners. “Core has developed a ground-breaking solution that gives organizations the ability to validate the security of their networks and accurately evaluate the effectiveness of their security systems. We think Core has the potential to transform the way enterprises and organizations assess their network security.”
More than 150 companies and organizations around the world are already using CORE IMPACT to safely exploit vulnerabilities to replicate the types of attacks a hacker, worm or virus could use to break into or damage their networks. By using CORE IMPACT, companies and organizations can now understand their true information security risks and prioritize their remediation efforts in order to fully secure their networks and keep valuable proprietary and company information safe.
“Enterprises are in dire need of an affordable and easy-to-use solution that tests the security of their networks. Our ability to attract an elite partner is a clear indication of the rapidly growing market for our flagship penetration testing product, CORE IMPACT,” said Paul Paget, CEO of Core. “As we look to accelerate our growth, Morgan Stanley’s significant global reach will be a tremendous asset to the company.”
In addition to CORE IMPACT, Core also provides Security Consulting Services that include penetration testing, software security audits, security architecture design and review and security training. The company also has a research arm, CoreLabs, that strives to anticipate future opportunities and requirements for the security technologies of tomorrow.
About Morgan Stanley Ventures
Morgan Stanley Venture Partners is the venture capital affiliate of Morgan Stanley (NYSE: MWD), the global financial services firm. Morgan Stanley Venture Partners manages a group of private equity funds that invest in high growth companies, concentrating on the information technology and health care industries. Since its inception in 1986, Morgan Stanley Venture Partners has managed over $1 billion of capital commitments and has invested in over 140 emerging growth companies. For more information about Morgan Stanley Venture Partners please visit www.msvp.com.
About Core Security Technologies
Core Security Technologies develops strategic security solutions for Fortune 1000 corporations, government agencies and military organizations. The company’s flagship product, CORE IMPACT, is the first automated penetration testing product for assessing specific information security threats to an organization. The company also provides world-class consulting services, which include penetration testing, software security auditing, and related training. Headquartered in Boston, MA, Core Security Technologies can be reached at 617-399-6980 or on the Web at www.coresecurity.com.