WorkLight Secures $12 Million
in Series B Round Financing Led by
Pitango Venture Capital
 
Israel’s largest VC joins Genesis Partners, Index Ventures and Shlomo Kramer in support of secure use of Web 2.0 in the workplace
YAKUM, ISRAEL and BOSTON, MA – Apr. 30, 2008 – WorkLight™ Inc., an Enterprise 2.0 company, today announced that it has closed a series B round of funding totaling $12 million led by Pitango Venture Capital, Israel’s largest VC.  The company’s second round of financing also represents a renewed commitment from Genesis Partners, Index Ventures and Shlomo Kramer, a world renowned security expert and Imperva CEO.
Proceeds from WorkLight’s series B round funding will be used to further expand its presence in North America, Europe and Asia, substantiating the company’s vision for the consumerized workplace. As the world of the consumer blurs with that of workplace, corporations worldwide increasingly rely on popular internet tools, such as personalized homepages (iGoogle, Netvibes, etc.), social networks (like Facebook), desktop widgets and gadgets, social bookmarking, RSS and other Web 2.0 platforms and services, to get things done at work.  Since its inception in 2006, WorkLight has pioneered the secure use of consumer technologies as business tools, enhancing employee productivity and fostering collaboration inside and outside the organization.
 

Press Contacts:
United States
Yonni Harif
Marketing Manager
Tel: 617 674 3261
yonni@myworklight.com
Europe
Darshna Kamani
Eskenzi PR for WorkLight
Tel: 44 (0) 20 7183 2834
darshna@eskenzipr.com
“The Enterprise 2.0 space is one of the hottest technology markets on the current investment landscape, so it was only natural that we connected with the pioneer in the industry,” said Rona Segev, General Partner at Pitango Venture Capital, who joins the company’s Board.  “WorkLight’s founders, Shahar Kaminitz and Yuval Tarsi, are leading a superior team of professionals; this is one of the best teams currently operating in the enterprise software industry in Israel.  We couldn’t ask for a better opportunity to invest in this burgeoning market."
WorkLight was founded in 2006 by CEO Shahar Kaminitz and CTO Yuval Tarsi with an initial round of funding from Genesis Partners, Index Ventures and Shlomo Kramer totaling $5.1 million.  The company’s flagship solution is a server-based software product that allows companies to leverage consumer tools such as RSS, iGoogle and Facebook behind the corporate firewall, working with internal IT controls for completely secure use by enterprise employees.  Most recently the company announced Workbook, a secure Facebook overlay that enables collaboration, access to enterprise applications and knowledge sharing using the popular social networking application.
“For the new generation of employees entering the corporate world, life without consumer internet tools is simply inconceivable. For this reason, it’s absolutely essential that organizations offer employees the same tools that they are already using in their personal lives, without compromising business-critical security,” said Shahar Kaminitz, CEO and founder, WorkLight.  “This latest funding round will allow us to expand our offerings for enterprises worldwide, and in North America and Europe in particular."
“The transformation of workplace IT is making a real impact on business,” said Eddy Shalev, Founder and Managing Partner, Genesis Partners and WorkLight Board Member.  “It is enormously gratifying to know that our initial investment in a formative leader in this space has created a dominant industry player.  We look forward to seeing the company continue to grow in both size and status as an industry visionary, making the world of consumer Web 2.0 technology safely available to businesses across the globe."
Shlomo Kramer, world-renowned security expert and Imperva CEO: “With the advent of new Internet tools, companies must be prepared to address emergent security challenges. WorkLight has made security one of the building blocks of its technology, addressing Web 2.0 vulnerabilities from the get-go to become an industry leader in this space. I trust that the confidence the company has shown to date will continue to bear fruit in the future."
 
 
About WorkLight™
WorkLight™ Inc. develops and markets a line of server products that consumerize the corporate computing experience by making popular consumer services like iGoogle, MS Live, Netvibes, and Facebook "enterprise-ready."  Through WorkLight, employees and consumers connect to protected enterprise data (and to each other) using Web 2.0 services.
WorkLight is a venture-backed company with offices in Yakum, Israel and Boston.  WorkLight has received prestigious industry accolades including being selected as a Winner of the Red Herring 100 Europe 2008 Award, named as one of the "Five Enterprise 2.0 Startups to Watch," by InformationWeek magazine, selected as part of CIO Magazine's Web 2.0 Product Suite and singled out with an honorable mention as one of Computerworld's "10 Cool Cutting-edge Technologies on the Horizon."
About Pitango Venture Capital
Pitango Venture Capital, the leading venture capital firm in Israel, has been investing in technology entrepreneurs since 1993. With offices in Israel and Silicon Valley, California, Pitango currently manages several venture funds totaling over $1.3 billion in committed capital invested in more than 100 companies. Pitango invests in high-growth companies in seed and early stages, supporting them as they grow. Pitango’s investment focus includes: Communications; Networking & Storage; Wireless, Cellular and Mobile technologies; Enterprise Software, Internet and Media; Healthcare & Life Sciences, and Clean Technologies.
Visit www.pitango.com for more information.
About Genesis Partners
Genesis Partners is a leading Israeli venture capital firm focused on early stage companies in the information and communication technology (ICT) sectors. Established in 1996, Genesis Partners manages over $500 million in capital commitments across three funds, and has made over 70 investments with 27 successful exits. Genesis Partners has strong ties to the Israeli entrepreneurial community and the global technology industry, and a strong team of venture professionals with extensive experience in venture capital, technology, operations and entrepreneurship.
For more information, please visit www.genesispartners.com.
About Index Ventures
Index Ventures is a leading European venture capital firm active in technology venture investing since 1996. The firm is dedicated to helping top entrepreneurial teams in the Information Technology and Life Science sectors build their companies into market defining global leaders. The firm has offices in Geneva, London and Jersey and focuses on investments from seed through growth stage companies. Recent exits include Skype (the pioneering communications company acquired by eBay); MySQL (the world's most popular open source database recently acquired by Sun), Last.fm (the world's largest social music platform, recently acquired by CBS) and BioXell (BIOX, floated on the SWX in 2007).
For more information, please visit www.indexventures.com.