ChosenSecurity Announces $6 Million in Financing

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Contacts:
Kate Lewis Elyse Familant
ChosenSecurity, Inc. George Cohen Communications
617-559-0090, x109 978-725-3637
[email protected] [email protected]

On-Demand Digital Certificate Management Firm Will Build Upon First-Half 2008 Momentum to Accelerate Sales, Increase Investments in Infrastructure and Product Offerings

NEWTON, MA – August 11, 2008 – ChosenSecurity, Inc., the leading provider of on-demand digital certificate management services, today announced $6 million in new financing to accelerate the company’s expansion as it continues to gain momentum in the on-demand certificate management market.

The investment represents an extension of the A round and incorporates existing investors, including .406 Ventures, Castile Ventures and Prism VentureWorks.

ChosenSecurity provides digital trust between employees, clients and suppliers doing business digitally through on-demand digital certificate management services. On-demand digital certificate management from ChosenSecurity enables a wide range of digital trust applications, such as strong authentication, secure e-mail, digital signatures and data encryption to control access to digital assets, protect against data leakage and support compliance with privacy, e-signature and other regulations.

Funding will be used to capitalize on first-half momentum to accelerate North American and European sales, increasing the strategic investment in its infrastructure and new product offerings. The funding follows a highly successful first half for the company in 2008, with significant highlights in the following areas:

• Completed more than 150 transactions with new and existing customers
• Brought two new on-demand certificate management solutions to market for small and medium sized businesses (TC EID QuickStart and TC ID Store)
• Increased US sales coverage to include all major North American territories
• Expanded ChosenSecurity’s partner network to include Edgile and Aladdin
• Secured major accreditations with SAFE-BioPharma Bridge Certificate Authority and IdenTrust

“We are excited that the market is recognizing the value and embracing our on-demand approach to certificate management as a cost-effective alternative to traditional approaches,” said Robert Steinkrauss, CEO.

“We are seeing strong growth in the migration of one-time password tokens to certificates and the outsourcing of an organization’s Microsoft Certificate Authority to ChosenSecurity. This funding, coupled with a strong subscription base from our SaaS model, will accelerate our momentum.”

About ChosenSecurity, Inc. (www.chosensecurity.com)
ChosenSecurity provides digital trust between employees, clients and suppliers doing business over the Internet through on-demand digital certificate management services. The company’s solutions enable a wide range of digital trust applications to control access to digital assets, protect against data leakage and support compliance with privacy, e-signature and other regulations. Its digital certificates provide applications with strong authentication, secure e-mail, digital signatures and data encryption. ChosenSecurity was the first to provide digital certificate management through a Software as a Service model and remains the leader through its breakthrough economics, versatility and implementation speed for enterprises. Unlike traditional PKI and private certificate authority options, ChosenSecurity solutions can be implemented in 70% less time and 70% less cost.

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