Nexidia Secures Third Round of Funding; Adds New Investor

Dec 05, 2003

Nexidia, developers of solutions for audio-video searching and intelligent mining, has secured an up-round of funding and added Paladin Capital Group as a new investor. In addition to Paladin, the company's lead investors (H.I.G. Ventures and Boston Millennia Partners) participated in the new round of funding. Existing investors (Cordova Ventures and ATA) also participated.

Nexidia has also announced that Lt. General Ken Minihan, USAF, (Ret.), a former director of the National Security Agency (NSA), has joined the company's board of directors representing Paladin Capital. Minihan, a principal and member of Paladin Capital Group's Homeland Security Fund Investment Committee, was the 14th Director of the National Security Agency/Central Security Service, serving in that role from 1996-99 under President Bill Clinton. Minihan currently serves as the chairman and president of the Security Affairs Support Association, which focuses on shared government and industry national intelligence and technology challenges. He also is a member of the Air Force Association, the National Military Intelligence Association and other national organizations. Nexidia also announced its intention to add additional outside board members.