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Ingrian Names Q1 Chief Shaun McConnon to Board
By VentureWire Staff Reporters
2/10/2004
Redwood City, Calif. -- Ingrian Networks, a provider of secure networking hardware and software, said it named Shaun McConnon to its board of directors.

Mr. McConnon is CEO of Q1 Labs, a developer of network security intelligence software. He was previously CEO of Okena and was also with Raptor Systems, where he worked with Ingrian CEO Robert Steinkrauss from 1995 to 1998.

Both Mr. McConnon and Mr. Steinkrauss have served as chief executive officer at Raptor Systems. Mr. Steinkrauss started as president and CEO and his last position there was chairman. Mr. McConnon was initially executive vice president of sales and marketing. He became president and COO in 1996 and CEO in 1997.

In December, Ingrian named Mr. Steinkrauss chairman, president, and CEO. Ingrian's board also includes Roy Thiele-Sardina, co-founder of Tasmania Network Systems and Brocade Communications Systems and a representative of Highbar Ventures; Jon Callaghan, managing director at Globespan Capital Partners; and James Counihan, principal at Prism Ventures.

Founded in 1999, Ingrian has raised $40 million to date. The company's investors include American Express and individual investors including Andy Bechtolsheim and Bill Joy, co-founders of Sun Microsystems; Martin Hellman, professor emeritus of electrical engineering at Stanford University; Andrew Dumke, president and CEO of Avexus; John Hamm, venture partner at Redpoint Ventures; Greg Chabrier, vice president of business development for VALinux; and Mr. Thiele-Sardina. Ingrian has 43 employees.

In January, the Redwood City, Calif.-based company closed $14 million in an inside Series C round to fund product development as the company migrates from an SSL offload appliance offering to a new product that secures data by encrypting it from within the network. Randy Budde, senior manager of marketing communications, said the company has hired five engineers since then and will hire an additional six to facilitate such development. Proceeds should last for two years at which time the company anticipates breakeven, he said.

http://www.ingrian.com