Barracuda Networks Gets $130 Million From Sequoia, Francisco
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Barracuda Networks Inc., a provider of security and data-protection systems, raised $130 million from Sequoia Capital and Francisco Partners to speed global expansion and provide cash to founders and early employees.
Sequoia and Francisco, which first backed the company in 2006, increased their stake with this investment, though the valuation wasn’t disclosed. The Campbell, California-based company is also paying a cash dividend of 96 cents a share to existing shareholders, Chief Financial Officer David Faugno said in an interview.