Digital Evolution gets new CEO, $8M in financing

Digital Evolution said it has received $8 million in its latest round of financing and has named a new CEO.

Digital Evolution Inc., Santa Monica, Calif., said it has received $8 million in its latest round of financing

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The Web services management and security software maker also recently announced that Paul Gigg has been named president and CEO of the company. Gigg was most recently a vice president with IBM after IBM's acquisition of Access360, where he was CEO. Gigg was also a CEO for Xdrive and ISOCOR, which was later acquired by Critical Path Inc.

Gigg will also serve as a member of Digital Evolution's board of directors.

The $8 million in Series C financing that closed this week came from Redpoint Ventures and Mellon Ventures. Digital Evolution said that it has raised more than $23 million in equity financing since its founding in 1998.

Digital Evolution

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