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Almi Invest and Stockholms Affärsänglar invest in Versatile Security
Versatile Security grows and takes in new capital for international expansion
Stockholm, Sweden, March 4, 2011 – Versatile Security Sweden AB develops products for IT security using encryption, PKI and smart cards. Versatile Security’s state of the art products provide high security, quick integration and focus on user friendliness. Cost efficient security systems for small and medium sized enterprises (SMEs) are rare to find. Versatile Security’s products fill this void. The products are sold mainly through a distribution network that covers Europe, US, Middle East, and Africa.
“This investment gives Versatile Security a capital injection that enables continued and more rapid expansion. Furthermore, we are very pleased to welcome some high profile professionals to our board of directors,” said Per-Anders Fjärdsäter, CEO and President of Versatile Security.
vSEC:CMS is a smart card management system. The system is delivered on a secure USB token with the application, configuration settings and credentials residing securely on the USB token, thereby removing the requirement to invest in expensive server hardware. It is Microsoft’s “best practice” for Windows domain logon to use smart cards and their new operating system, Windows 7, has been greatly improved to support the use of smart cards.
”Versatile Security’s products have been very well received by both customers and distributors, and the management team has an excellent track record and an impressive reputation in the business,” said Gunnar Lerjestad at Stockholms Affärsänglar.
Besides vSEC:CMS, Versatile Security also offers: vSEC:ID, vSEC:USB and vSEC:MAIL.
The investors are Almi Invest, Stockholms Affärsänglar and a small number of private investors.
“The company is focusing on the SME market, an area where the need for this type of products is increasing. We believe that Versatile Security has excellent potential to expand much further,” said Anna Söderholm, Investment manager at Almi Invest.
About Versatile Security
Versatile Security is a leading IT solutions provider in the identity and access management space with focus on easy deployment of smart cards. Our customers are organizations that demand high security and ease of use. Our state of the art solutions enable our customers to securely authenticate, issue and manage user credentials, such as smart cards, more cost efficiently than other solutions on the market.
Our mission is to provide solutions that are affordable and easy to integrate, thus allowing organizations of all sizes to implement high levels of security. We also offer first class support, maintenance, and training. Our customers include: HSBC, Tieto, Centric, Cantref Housing, Trade River, Omegapoint and IKEA.
Our products and services can be bought and delivered worldwide by use of an extensive reseller network and through the Versatile Security web site: www.versasec.com
About Almi Invest
Almi Invest – a Swedish Venture Capital company with 7 funds managing a total of 140 MUSD – invests in non- listed Swedish companies in early expansion phases with a capital requirement of up to 3 MUSD. By the end of 2010 the number of portfolio companies amounted to 55 and during 2011 the goal is to invest in another 60 companies. Investments are done in a wide range of businesses and always together with other private investors. www.almiinvest.se
About Stockholms Affärsänglar (STOAF)
Stockholm Affärsänglar AB, STOAF, is a business angel network that focuses on early stage investments with home run potentials in the greater Stockholm area and adjacent provinces. STOAF invests in ventures who want an active skills intervention.
STOAF started in 2009. It has today close to twenty partners and has made seven investments so far. The ventures are primary within the ICT and medical technology areas.
You can find more information about STOAF on our website www.stoaf.se.
Per-Anders Fjärdsäter, CEO and President, Versatile Security, +46 70-998 89 41
Anna Söderholm, Investment Manager, Almi Invest, +46 70-985 24 84
Sven Wallén, Stockholms Affärsänglar, +46 70-378 00 88