Wednesday, March 19, 2008

Lockdown Networks Shuts Doors

Seattle-based Lockdown Networks said Tuesday evening that the firm has ceased operations. The firm blamed the shutdown on the economy and slower than predicted adoption for the firm's Network Access Control (NAC) software. According to a statement on the firm's web site, the company was unable to raise additional sufficient venture capital to continue. The firm said some employees have been retained to oversee shutdown of the firm, and also said it would entertain offers for the firm's intellectual property. Lockdown was venture backed by Cargill Ventures, Ignition Partners, Integral Capital Partners, and Intel Capital, and raised around $20M in venture capital.