NORTH BAY BUSINESS JOURNAL EVENT

2008 CONSTRUCTION CONFERENCE

Building the North Bay: What's on the horizon?
Tuesday, May 20, 2008, 8-11:30 a.m., Hyatt Vineyard Creek, Santa Rosa

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Red Condor raises total of $7.7 million Series A

ROHNERT PARK -- Red Condor, Inc., the e-mail security solutions provider, added $2 million in debt financing to its Series A round for a total of $7.7 million, the company announced today.

Square One Bank of Durham, N.C., provided the financing. Red Condor's venture capitalists include ATA Ventures of Redwood City and RWI Ventures of Menlo Park.

"This is remarkable support from the venture capital community and Square One Bank in a very competitive market," said Ron Longo, Red Condor president and CEO. "It's a validation that our technology and strategic approach to e-mail security for businesses stand out as a superior value to customers and investors."

Local angel investors include Santa Rosa resident and telecom veteran Don Green, Turin Networks founder John Webley, Codding Enterprises of Rohnert Park and Santa Rosa-based Keegan & Coppin.

The company has 15,000 customers for its spam filtering and security service and is adding another 100 every month. According to Mr. Longo, Red Condor is on track to reach profitability in mid-2008.

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