History
SVIC (Silicon Valley Internet Capital), a small Internet investment firm where Robert Shaw was the Founder and CEO, incubated and was the initial lead investor in ArcSight (Nasdaq: ARST), which was incorporated in May 2000 and went public in February 2008. Kleiner Perkins and In-Q-Tel, the CIA’s venture-capital arm, became co-investors in ArcSight via second and third round investments in 2002. Other investors prior to ArcSight's 2008 initial public offering (IPO) included SVIC, Integral Capital Partners, Institutional Venture Partners, New Enterprise Associates, In-Q-Tel and Samsung Ventures. ArcSight filed S-1 for IPO on Sept 11, 2007 and offered its IPO on February 14, 2008. The IPO was underwritten by Morgan Stanley & Co., Lehman Brothers, Wachovia Capital Markets, and RBC Capital Markets. It was the only Silicon Valley company to enter Nasdaq in 2008, a time when few other technology companies went public with their stock.
SVIC assembled the founding executive team in May 2000 that included Alex Daly as the founding CEO, who was previously CEO of Cygnus Solutions (acquired by Red Hat), Hugh Njemanze as the founding CTO, who was previously the CTO at Verity, and Pravin Kothari as the founding VP of Engineering, who was previously cofounder & Chief Architect of Impresse. ArcSight originally was called Wahoo Technologies, which was a temporary name for the stealth-mode startup. Original business plan and investment were driven primarily by Internet boom to build an Internet Edge caching & acceleration platform, but the founding team took no time to learn that dot-com market was fast evaporating. Feedback from initial prospective customers led to a shift in strategy to the development of an analysis and correlation engine for security events. The company was formally named as ArcSight in January 2001. The founding CEO Alex Daly left the company citing health reasons in July 2001, when the founding investor Robert Shaw took over the operations as the CEO. Daly remained as a major shareholder with 10.30% stake at IPO. Njemanze and Kothari have registered several patents such as US7376969 - Real-time monitoring and analysis of events from multiple network security devices, US7260844 - Threat detection in a network security system, and US7650638 - Network security monitoring system employing bi-directional communication. Tom Reilly was appointed as CEO in 2008. Kothari later founded Agiliance, a security-GRC company, and CipherCloud, a cloud security company. The former CEO Robert Shaw retired from his role effective October 1, 2008, citing health reasons.
ArcSight has more than a thousand high-profile customers.
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