Venture Capital & Information Technology, Monday, March 1st, 1999.

J.L. Albright Venture Partners, Toronto, was the lead investor in a $9.15 million round for Chrysalis-ITS Inc., Ottawa, Ontario, a maker of networking security products.

Joining Albright were new investors Intel Corp., Santa Clara, Calif.; Winnipeg-based venture firm Centara Corp.; and Mosaid Technologies Inc., Kanata, Ontario, a memory-chip design company. Prior investors participating in this round include Business, Engineering, Science and Technology Discoveries Fund Inc., Toronto; Capital Alliance Ventures Inc., Ottawa; Novacap Investments Inc., Longueuil, Quebec; and seed-stage venture firm Furneaux & Co., LLC, Concord, Mass.

Over three rounds, the company has raised approximately $15 million.

J.L. Albright Partner Stuart Lombard said Chrysalis has reached a number of strategic agreements with industry leaders. For example, the company provides hardware for Entrust Technologies Inc. and Verisign Inc., which issue and manage security credentials and public keys for message encryption and decryption. Chrysalis's hardware, which goes inside servers maintained by the two companies, stores the information on certificate holders and generates identification numbers for new certificate holders.