Startup City Magazine

Top 6 U.S Deals in Q3 and the People Behind Them

#2 Barracuda Networks Inc

The company, a global provider of security and data systems has enlarged its sphere to $130 million securing funds from Sequoia Capital and Francisco Partners to expand globally and provide cash to the existing employees and investors. Founded in 2003, the CEO, Dean Drake  states that setting up an ideal atmosphere for success depends on the market conditions as well as the management of the company. With the funding, the company to increase sales, support operations and it may also be used for acquisitions. This investment “puts the company in position to go public, and we put in a governance structure that’s very different than the founder-controlled structure,” says Jim Goetz, a partner at Sequoia and a Barracuda director, as reported by Ari Levy of Bloomberg.

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