Success Stories
Network Intelligence:
- Ascent led first investment round for leader in Security Event Management (SEM) market.
- Network Intelligence was a partner of former Ascent portfolio company, Network Engines.
- EMC acquired Network Intelligence in September 2006 for $175M.
In late 2001, Lynn Mormann, the Founder & Chairman of Network Intelligence was referred to Ascent by the management of Network Engines, a former Ascent portfolio company. Network Intelligence was an early partner in Network Engines’ appliance partnership program and was evaluating funding options for pursuing the market for managing security event management information. Although the market was in the early stages of development, Ascent was convinced that managing event information created by security and networking devices would become a critical enterprise requirement. Ascent worked with Network Intelligence’s management team to evaluate funding alternatives and eventually led a $8M Series A investment in the Company. Over the next four years, Ascent assisted with efforts to build an outstanding management team, led by Jack Sweeney, CEO, raise additional capital, and develop the Company into the leader of the rapidly emerging Security Event Management (SEM) market. In September 2006, EMC Corporation, a strategic partner of the Company, acquired Network Intelligence for $175M.
Ascent’s experience with Network Intelligence has provided critical insight into additional security opportunities. Additionally, Ascent has maintained strong relationships with the Network Intelligence management team, several of whom are key participants at other Ascent portfolio companies.