$5M Reaches BreakingPoint Systems - cbl

By citybizlist Staff

AUSTIN -- According to a Reg D filing with the U.S. Securities and Exchange Commission, BreakingPoint Systems Inc. has completed its $5 million equity offering with 11 investors.

The Austin-based company, formerly known as Security Test Systems Inc., is inventing application, performance and security testing.

Principals named in the filing are CEO Desmond Wilson III, Chief Technology Officer Dennis Cox, COO Craig Cantrell, CFO Jonathan Dorton and directors John McHale, Michael Corboy, Paul Zito and Warren Phelps III.

Reg D filing: http://tinyurl.com/2w3daem

Bios from BreakingPoint's Web site:

http://www.breakingpointsystems.com/company/images/Des%20Wilson%20pp-1.jpg/image_thumb

Desmond Wilson III
- CEO
As Chief Executive Officer and a member of the BreakingPoint Board of Directors, Des Wilson brings more than 20 years of leadership and a strong track record of building high growth technology companies. Before joining BreakingPoint, Wilson served as CEO at Axel Johnson Inc., a $3 billion privately owned corporation with interests in the technology, energy, and environmental sectors. Wilson 's knowledge of the network and application test industry was developed over the course of a 14-year long career at Hekimian Laboratories Inc., a leading supplier of network management and test systems for telecommunications service providers. Wilson was ultimately selected to lead the company as Chief Executive Officer. Under Wilson 's leadership, the company was acquired by Spirent Communications, and Wilson was appointed President of the Spirent Service Assurance Division.

Dennis Cox - Chief Technology Officer
Dennis Cox co-founded BreakingPoint in 2005 and serves as its Chief Technology Officer. At BreakingPoint Cox is responsible for technical direction, security research and engineering. Cox, who has more than 15 years of industry experience bringing high-performance network devices to market, is also the author of numerous patents on various topics from IP Spoofing to Network Processors. Previously, Cox was one of the founders and the Director of Engineering at TippingPoint. Responsible for product direction at TippingPoint, Cox created innovations in intrusion prevention systems (IPS) and saw the company through its acquisition by 3Com in 2005. Cox is also a frequent contributor to online technology publications and a highlighted speaker at technology events.

Craig Cantrell - COO
As co-founder and Chief Operating Officer, Craig Cantrell heads up product testing and quality assurance, as well as customer service and support. Cantrell's industry experience as a developer of network equipment and a user of test equipment provides BreakingPoint with a unique perspective of customer needs. Prior to joining BreakingPoint, Cantrell served as Vice President of Development for TippingPoint. Cantrell has held leadership positions in numerous high tech organizations including Cisco, NetSpeed, and Interphase Corporation.

Jonathan Dorton - CFO
Jon Dorton joined BreakingPoint with more than 15 years of finance experience helping to lead high-growth technology and service provider organizations. During his career Dorton has witnessed first hand the dynamic needs of today's data infrastructure and how critical realistic network simulation is to ensuring network security, integrity and overall resiliency. At BreakingPoint he is responsible for all finance, accounting, human resources and compliance functions. Dorton most recently was CFO of FundsXpress Financial Network, an ASP that provided a full suite of outsourced Internet based financial services and has worked for leading organizations such as KPMG, LLP and Ernst and Young, LLP.

Board of Directors

John McHale
Mr. McHale has served as Chairman of the Board since our inception in September 2005. From May 2001 to February 2005, Mr. McHale was the Chairman and Chief Executive Officer of TippingPoint Technologies, Inc. which was purchased by 3Com in February 2005. From January 1996 to April 1998, Mr. McHale served as President, Chief Executive Officer and Chairman of NetSpeed, Inc., which was sold to Cisco. Prior to that time, Mr. McHale was President, Chief Executive Officer and Chairman of NetWorth, Inc., which was sold to Compaq.

Michael Corboy
Mr. Corboy has served as a BreakingPoint Director since inception. Mr. Corboy has served on numerous technology company boards including NetWorth, NetSpeed and TippingPoint. Since January 1992, Mr. Corboy has served as President of Corboy Investment Company.

Paul Zito
Mr. Zito has served as a BreakingPoint Director since inception, and is Chairman of Audit and Compensation Committees of the Board. Mr. Zito currently is a partner in Z Start, L.P. and Genesis Inventions, L.P., both private venture capital investment funds. From 1999 to 2005, Mr. Zito served as a Director of TippingPoint and was the Chairman of the Audit Committee. From April 1996 until April 1998, Mr. Zito served as Chief Operating Officer and Director of NetSpeed. From 1993 to March 1996, Mr. Zito served as Chief Financial Officer and Director of NetWorth.

Warren Phelps, III
Mr. Phelps joined our Board of Directors in April 2007, and brings over 10 years of executive management experience in the test and measurement sector, and over 25 years experience in the telecommunications industry. From 2003 to 2006, Mr. Phelps served as Division President of PAB (Performance Analysis - Broadband) with Spirent Communications. Mr. Phelps joined Spirent in 2000 as a member of executive management after Spirent's acquisition of Netcom Systems, where he had served as President and Chief Executive Officer since 1997. Under Mr. Phelps tenure, Netcom grew revenues from $60 million to over $200 million at the time of acquisition. Prior to NetCom, Mr. Phelps served as Chairman of the Board and Chief Executive Officer of MICOM Communications. Mr. Phelps currently serves on the Board of Directors of Empower RF Systems, and formerly was the Chairman of the Board of Directors for Somera Communications. Mr. Phelps also serves as a Trustee for St. Lawrence University.


Posted Apr 22, 2010

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