AFORE Secures $6 Million from BDC Venture Capital to Accelerate Cloud Strategy

Posted by Techvibes NewsDesk

Ottawa's AFORE Solutions announced today that it has closed a $6 million financing round from a group of investors led by the BDC Venture Capital IT Fund.

"As cloud computing adoption continues to exceed expectations, AFORE Solutions and its partners have applied CloudLink's unique high performance multi-tenant encryption solution to satisfy security and compliance issues related to Cloud deployments," said Alex Berlin, President and CEO, AFORE Solutions.

"With an established and growing global enterprise and cloud service provider customer base, the funding will enable the company to focus on meeting the growing global demand and to accelerate the next generation products ideas," he added.

"Protection of sensitive data is the dominant concern enterprises face regarding the adoption of cloud computing. The traditional methods for securing data are no longer relevant in Cloud Computing and AFORE's CloudLink portfolio perfectly addresses this concern," said Ron Warburton, Managing Partner at BDC Venture Capital IT Fund.

"Our investment in AFORE Solutions is consistent with our belief that intelligent security solutions will play a critical role in the adoption and growth of cloud computing," he added.

AFORE will use the capital to expand the company's marketing, sales and operations capacity to meet growing customer demand, and to accelerate next generation IP and product development.

Company:
BDC Venture Capital
Website:
http://www.bdc.ca
Location:
Montréal, Québec, Canada

With more than $1 billion under management and more than 25 years of industry experience, BDC Venture Capital is an investor of choice focusing on IT, health and energy/cleantech companies, as well as venture funds, with high growth potential. From seed through expansion to exit, their mandate is to help build outstanding Canadian companies, while working to create a sound financial ecosystem for Canadian... more

Company:
AFORE Solutions
Website:
http://www.aforesolutions.com
Location:
Ottawa, Ontario, Canada

Since its inception in 2003, AFORE has been winning industry accolades and awards for its networking, virtualization and cloud infrastructure technology solutions and custom development services. Headquartered in Ottawa, Canada, with operations in the USA and Europe, AFORE focuses on delivering innovative technology to Enterprises and Service Providers that will give them complete control over security of data in... more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property. Originally founded in 2002, Techvibes is dedicated to covering social, mobile, and startup news that impacts Canadians. Our editors and nationwide network of reporters combine breaking hyperlocal news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and... more



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