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Web security firm rounds up $20 million

NetContinuum announced Tuesday a $20 million third round of funding, led by Palomar Ventures. Previous investors Menlo Ventures, NIP Ventures/Daiwa Securities, Adams Street Partners, Invus Group and MKS Ventures also participated in the round. The Santa Clara, Calif.-based company has raised more than $54 million. NetContinuum develops hardware to guard applications against Web attacks.