Wednesday, March 3, 2010

Ignition Supports Cloudmark Buy

Bellevue-based venture capital firm Ignition Partners has backed a San Francisco firm's acquisition of a competitor, with a new round of funding. According to Cloudmark, a developer of spam filtering and security software, Ignition was one of the participants in a new, $23M round of funding, which went to its acquisition of competitor Bizanga Ltd. Ignition is a prior investor in the firm, and holds two board seats. Ignition's Cameron Myhrvold and Martin Tobias both sit on the board of directors of Cloudmark. Other participants in the funding included Summit Partners, Nokia Growth Partners, and Industry Ventures.