Compliance software maker Autonomic fails to rebrand, shutters
Autonomic Networks, the very recently reinvented version of Vernier Networks, has finally given up the ghost after failing to raise a new round of capital. The Mountain View, Calif.-based maker of software that monitored compliance with network security protocols had just launched a beta of its lead product in October. At that point, it already had five clients enlisted for the trial and expected to bring on seven more.
But even then it was running on a small amount of bridge funding from Allegis Capital, Foundation Capital and Venrock. In the past it had raised about $68 million over five rounds from these firms in addition to DCM, Masthead Venture Partners, UV Partners and Weber Capital. But the last of those rounds was in 2005, and the runway stopped short of a fresh round of backing needed to continue operation.
The company predicts an asset sale, a fate met by several other network asset control companies, including Lockdown Networks and Caymas Systems, reports VentureWire.
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