Plenus Provided a $2mm Credit Facility to PineApp Ltd.
Plenus, the leading Venture Lending Fund in Israel providing credit facilities to high-tech companies, granted a $2mm Credit Facility to PineApp Ltd. PineApp is a leader in securing networks and email systems that offers comprehensive appliance solutions for organizations of various scales.
Lee-Bath Nelson, General Partner at Plenus, added: ”Plenus is a long time happy PineApp Mail-SeCure customer. During our due diligence we contacted additional PineApp customers, who also praised the ease of use and rich functionality of the products. We believe PineApp is poised for strong growth and welcome PineApp to the Plenus portfolio family.”
Hezi Erez, PineApp CEO said: “The due diligence process that was carried out by Plenus was very thorough and professional. I am very glad that Plenus has decided to join the PineApp family and to take part in PineApp’s development and growth”.
Since its founding, PineApp has had many successful installations worldwide. In the USA, PineApp has developed its solutions at Telepak, a large ISP which receives a massive amount of over 1.5 million emails per day. In Israel, PineApp’s products have been installed in many governmental and educational institutions. Among them is IDC (Interdisciplinary Center), with 12,000 email users and over one million emails per day. Prior to the implementation of Mail-SeCure in these companies, over 97% of their incoming mail was Spam. Now the Spam has vanished, with a false-positive ratio lower than 0.01%.
About PineApp Corporation
PineApp™, a global leader in securing email systems, offers comprehensive appliance solutions for small, medium and large organizations. Founded in 2002, PineApp has corporate headquarters in Nesher, Israel and American headquarters in Irvine, California, with additional offices in the US, UK, Israel, Italy, Russia, South Africa, Spain and France.
In the past five years, PineApp has specialized in email and content security systems and has a significant presence in more than 50 countries. PineApp has established itself as a pioneer in developing unique and innovative technologies to fight Internet and email threats.
For more information on PineApp, please visit www.pineapp.com
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