High Tower Software Suddenly Closes Its Gates

Bruce V. Bigelow11/26/08

Aliso Viejo’s High Tower Software shut down unexpectedly Monday, SoCal Tech News reported. The venture-backed developer of network security systems saw its sales suddenly deflate in the economic downturn and investors were unwilling to provide any more capital, according to one person familiar with the company. About 34 employees lost their jobs. High Tower was founded in 1999 and had raised roughly $24 million from Falcon Fund, Liberty Partners, Merrill Lynch Ventures, Hallador Venture Fund, Inroads Capital Partners, J.F. Shea, Kinship Partners, and Tech Coast Angels.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788