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Tech Industry

Vigilante raises $7 million

Security software company Vigilante has received $7 million in a third round of funding, led by Fafner Holding BV and including previous investors BankInvest and Danske Venture Partners, Vigilante CEO Eric Fullerton said. The Beaverton, Ore.-based company, which has raised a total of about $27 million, plans to use the new funding for sales, marketing and product development, Fullerton added.

As part of its funding announcement, Vigilante, whose software helps companies monitor the security of their computer systems, also said it has discontinued its services business. The company formerly helped companies monitor and assess their security vulnerabilities but has since farmed that business out to service providers who have agreed to use Vigilante's software, the company said. As part of the closure of its services business, Vigilante shut down its offices in Copenhagen, Denmark, and laid off about 40 people in the United States and Denmark in late June, Fullerton said.