(Associated Press via NewsEdge) Narus has raised $30 million in new capital to fund development of next-generation products and expand overseas sales.
The new financing announced consists of $20 million in cash and a $10-million line of credit. It was led by American Capital Strategies, with existing Narus investors JPMorgan Chase & Co., Mayfield Fund, Pacven Walden Ventures and NeoCarta Ventures also participating.
Narus sells data-mining equipment that lets companies and other entities sift through the information in Internet traffic and identify nuggets of interest in e-mail, users' Web-surfing and even Internet phone calls.
The technology drew attention earlier this year in the controversy over the Bush administration's secretive program to monitor Americans' communications without warrants.