Wednesday, November 29, 2017

Weblife Acquired By ProofPoint For $66M

Los Angeles-based Weblife, a developer of secure, employee web browsing software, has been acquired by Proofpoint, in a $66M all cash deal, the companies announced today. Proofpoint said it will use the acquisition to extend its email malware protection to users' personal email accounts. Weblife was venture backed by a new, venture capital investment firm in Los Angeles, Nordic Eye, which has offices in both LA and Copenhagen. Nordic Eye said it invested $3.0M in seed funding in Weblife only 11 months ago, with a 30 percent stage--giving it a 690% annualized ROI on the acquisition. Weblife's CEO and founder is David Melnick.