Digital Evolution gets new CEO, $8M in financing

Staff report

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

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.

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