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Sygate Technologies grabs $5 million

Sygate Technologies said Tuesday that it has pulled in $5 million in financing from lead investors Cirlab, a venture investment group that is part of the De Benedetti Group in Italy, and IpropertyNet, an affiliate of Bank of Singapore. Sygate was founded in 1995 and makes network security software for large businesses. The company has forged partnerships with telecom equipment makers Alcatel and Cisco Systems to help provide security for VPNs (virtual private networks). A VPN uses encryption to securely connect two private networks over the Internet. The technology is more secure than a dial-up connection and cheaper than buying a dedicated communications line.

Sygate Technologies said Tuesday that it has pulled in $5 million in financing from lead investors Cirlab, a venture investment group that is part of the De Benedetti Group in Italy, and IpropertyNet, an affiliate of Bank of Singapore. Sygate was founded in 1995 and makes network security software for large businesses. The company has forged partnerships with telecom equipment makers Alcatel and Cisco Systems to help provide security for VPNs (virtual private networks). A VPN uses encryption to securely connect two private networks over the Internet. The technology is more secure than a dial-up connection and cheaper than buying a dedicated communications line.