Thursday, June 5, 2008

Bradford Networks nabs $8M in new funding

By Mass High Tech Staff

Bradford Networks, a Concord, N.H.-based maker of policy management and network access control software has landed $8 million in its second round of venture funding.

New York-based Updata Partners led the Series B round, which also included Bradford Networks’ previous investor Windspeed Ventures, based in Lexington. The financing brings the company’s total raised to $10 million since 2006. The company was originally founded in 1999.

The funding will be used to expand the company’s product portfolio, as well as its sales and marketing efforts, according to officials. In conjunction with the funding, Carter Griffin, a partner at Updata Partners, will join the company’s board of directors.

Bradford makes software aimed at managing and controlling access of enterprise networks, including end point security, identity management and policy control. The company had built a following in university campus environments, and over the past two years expanded into enterprise environments. According to officials, Bradford’s products have been deployed at more than 400 organizations worldwide.

Bradford networks was founded by CEO and former Cabletron Systems Inc. software architect Michael Gadoury in 1999. The bulk of the management team, including CTO Frank Andrus, COO Everett Andrus and vice president of technology partners Rick Leclerc, also hail from Cabletron or Cabletron’s spinout Aprisma Management Technologies Inc.