N-Dimension Announces Tom Ayers has Joined Company as New CEO and Closes $3.5M Series B Funding
Richmond Hill, Ontario, Canada – December 18, 2014 – N-Dimension, the leader in innovative cyber security products that focuses on the protection of distributed smart energy networks from cyber attacks, announced the appointment of Tom Ayers as the company’s president and chief executive officer and a member of the Board of Directors. Mr. Ayers has joined the company as it prepares to build upon its solid technology foundation and accelerate sales momentum.
Mr. Ayers brings more than 30 years of experience in leading and transforming high tech companies into industry leaders. Prior to N-Dimension, he was the CEO of Tropos Networks where he launched the company into the smart grid market and drove its acquisition by ABB, a global leader in power and automation technologies. Previously he held executive positions at McAfee Security and Blue Coat Systems where he drove development of sales and channel strategies that significantly increased company revenues. Earlier in his career, Mr. Ayers held management positions at IBM and Amdahl.
“We are very excited to have Tom join the company as CEO, said Wally Hunter, managing director, EnerTech Capital. “His strong background in the cyber security space and history of success in building and growing successful companies will help move N-Dimension to the next stage in its evolution. The need for cyber protection of critical assets is becoming of significant importance to electric utilities, oil and gas and water infrastructures. N-Dimension has developed innovative cyber monitoring and protection solutions to help mitigate cyber risk in these infrastructure assets.”
The company also announced it has closed $3.5M Series B funding led by EnerTech Capital Partners and Export Development Canada. It is planned to use the funds towards building and expanding sales channels and increasing market awareness.
About N-Dimension Solutions
N-Dimension is a market leader in the development of innovative cyber security products that protect distributed smart energy networks from cyber attacks, improving system reliability and safeguarding critical infrastructure, data and assets. The company offers N-Sentinel, a cloud-based, real-time threat detection and alert product that uniquely combines community context and security intelligence enabling utilities to take offensive action in protecting against cyber threats.
N-Dimension, the leading provider of cyber security solutions for cooperative and public power utilities, today announced that it was named by Smart Grid News as one of “14 Smart Grid Companies to Watch in 2014”.
About EnerTech Capital
EnerTech Capital is a private investment firm focused on innovation in the energy and power industries: mid-stage companies that offer products or services that dramatically improve the profitability of producing or consuming energy. Founded in 1996, the firm has managed approximately $500 million and has delivered 30 exits. EnerTech is currently investing out of its fourth fund and has offices in Toronto, Philadelphia, Montreal, Calgary and Menlo Park.
For more information, visit www.enertechcapital.com.
CONTACT: Wally Hunter: 416-363-8563 email@example.com
About Export Development Canada (EDC)
EDC is Canada’s export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC’s knowledge and partnerships are used by more than 7,700 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining and a recognized leader in financial reporting and economic analysis.