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Palo Alto Networks Nets $27 Million VC

Tuesday, August 19, 2008 5:45:00 AM PDT | VentureDeal Staff

Alviso, California -- Network security company Palo Alto Networks said that it has raised $27 million in its third round of institutional venture capital financing.

Palo Alto Networks has created a next generation enterprise firewall that helps IT departments classify traffic across their internal networks to enable better application visibility and policy control.

Lehman Brothers Venture Partners led the round, which also included Globespan Capital Partners, Greylock Partners and Sequoia Capital.  The company said it would use the new funding to support its growth by expanding sales, marketing and customer service.

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