Mystery investor's $1.3m gives Yellowtuna a boost

By RICHARD PAMATATAU

Auckland security system maker Yellowtuna Networks has been given a Lotto-sized $1.3 million boost by a secret investor.

Chief executive Bill Farmer said the money gave the unidentified investor a 5 per cent share of the company.

The capital would be used to expand the business.

Yellowtuna makes network security and management products for small- and medium-sized companies.

It provides comprehensive network security and alerts managers or owners of extraordinary activity.

Farmer said the company's secure Mako website enabled network activity and use to be monitored down to the individual personal computer.

Another option set maximum traffic limits so there were no unpleasant surprises with overuse charges at the end of the billing period.

Customers were recognising the need to monitor computer use more closely, said Farmer.

The investor had a significant network that Yellowtuna could use, he said.

This meant the company would be able to do a lot more research and development over the next year.

A number of deals were pending in Britain, said Farmer. Yellowtuna's first deal there was with Eescape, a company 49 per cent owned by British Telecom.

Another customer is regional internet company Intronet Solutions.

Yellowtuna has five staff in Britain, four in Ireland and six in New Zealand.

Farmer expects revenue this year to be about £2 million ($5.35 million).