Former USi Executive Nick Magliato Joins as CEO
Washington, DC — October 19, 2004 — Core Capital Partners, a $170 million venture fund that invests in a broad range of technology companies, announced today that it led a $3.1 million Series A round in McLean, Va.-based Trust Digital — a leading provider of enterprise mobile security solutions. Avansis Ventures also joined the investment syndicate.
Trust Digital helps enterprises leverage the productivity advantages associated with personal mobile devices and smart phones without exposure to the security risks at the highly vulnerable "Mobile Edge" of the enterprise-computing environment. Trust Digital's flagship product is a cross-platform software solution that provides a policy-based framework for automating the creation, deployment, enforcement, auditing and control of security policies at the Mobile Edge.
Trust Digital also announced that Nick Magliato, a former senior executive of USi, Inc., has joined the company as CEO. Most recently, Magliato was an Executive Vice President at USinternetworking, the world's leading application service provider. Previously, Magliato was a corporate officer at DIGEX and was instrumental in facilitating the company's initial public offering and subsequent sale to MCI.
"Nick brings exceptional managerial and leadership skills to the table that will complement Trust Digital's existing management team," said Pascal Luck, Managing Director of Core Capital Partners. "The time is right for Trust Digital to accelerate its growth as enterprise needs to address mobile security challenges become a mainstream concern. We are confident that the company's prospects for long-term success are strong with Nick leading the company."
"The market is looking for a security answer to the explosion of mobile devices operating in today's enterprise. The productivity gains offered by these devices will only serve to drive additional growth. In fact, we expect billions of these unsecured devices to be operating in enterprises in the next few years," said Magliato. "The team here as done a great job of building a product that secures the use of devices at the Mobile Edge of the enterprise. It has a loyal customer base made up of government, health care and financial services companies. I look forward to propelling Trust Digital's growth and am particularly pleased to be working with Core Capital."
The company will use the funds to expand its sales team, significantly increase its market presence, and invest in additional software development.
About Core Capital Partners
Core Capital is a $170 million venture fund that invests in a wide range of transformational technologies. Based in Washington, DC, Core Capital focuses on investments in information technology, communications, software and business services. Sample portfolio companies include InPhonic, Sourcefire, NexTone Communications, sentitO Networks, Clareos, Solstice Software, SwapDrive, Trinity Convergence, and Vocal Data. For more information, visit www.core-capital.com.
About Trust Digital
Trust Digital is the leading provider of mobile security software, securing enterprise data that resides at the edge of the network where Smartphones and mobile devices have access to corporate information. By implementing Trust Digital's policy-based software solution, corporations eliminate the regulatory and financial risks associated with the accidental or malicious disclosure of data. Trust Digital's customer base includes Government organizations, as well as leading Financial Services and Healthcare companies. Trust Digital, in tandem with its worldwide network of partners, is committed to innovative product development and world-class customer support. For more information, please visit our website, www.trustdigital.com.
Press Contact:
For additional information or questions, please contact:
Michael Riemer, EVP
Trust Digital
miker@trustdigital.com
888-760-9401 x209