Acton's eIQnetworks raises $10 million

Acton's eIQnetworks Inc., a company focused on security and compliance management, said it recently closed a $10 million round of financing.

Venrock, a venture capital firm with offices in Cambridge, led the company's first institutional round, eIQnetworks said.

"Raising our first round of venture capital in this kind of economic environment is a true testament to the hard work of our team," Vijay Basani, chief executive of eIQnetworks, said in a statement. "In a time when our competitors are struggling to stay alive, we are growing and redefining what customers expect from security and compliance management by offering situational awareness and end-to-end visibility to detect threats to critical information assets."

Venrock partner Mike Tyrrell is joining eIQnetworks' board of directors, the company said.

To read the company's press release, please click here.
(By Chris Reidy, Globe staff)