Funding bid marks global roll-out for technology firm
SYPHAN Technologies, the specialist IT security technology businesses, is planning a global roll out of its products if its bid to raise £1m is successful.
The company hopes to use the money to rapidly accelerate its research and development programme to meet the growing world-wide demand for high performance network security.
It is currently working on a range of threat protection functionality to add to its firewall product – the only network security appliance capable of matching 10Gb/sec processing speeds.
Skipton-based Syphan said it is is in “advanced discussions” with a number of regional, national and international investment funds and is confident that new funding can be raised quickly.
The firm was founded by Pravin Mirchandani in 2006 to specifically target the next generation data centre and managed security service provider markets and has already received around £2m in development funding from Partners in Finance (PIF) and the Yorkshire and Humber Enterprise Fund (YHEF).
A new software as a service (SaaS) approach to customer demands is set to create up to 30 new jobs by 2012 as well as increased sales in North America and Asia Pacific.
To help with the next stage in the company’s development Syphan has recruited network infrastructure specialist John Murray as a non-executive director.
Mr Murray was formerly part chief technology officer at Harrogate-based IT firm InTechnology.
