IRC Company, Inc. (IRC) has closed on what it seems to be the first installment of a $900,000 Series A preferred stock offering. The non-brokered private placement was subscribed by one investor. IRC does business as Black Lotus Communications and according to an article published on Forbes.com, the company is profitable with 2012 revenues of $2.1 million and twelve employees. Black Lotus is self-financed and backed by angel investor Arman Khalili. According to the same article, an initial public offering is in the company’s future.
Black Lotus provides protection services against distributed denial of service (DDoS) attacks. DDoS attacks produce a sudden increase in traffic that ultimately shuts down a targeted website or server. According to “the state of the internet” a report published by Akamai, DDoS attacks have increased by 200% year-over-year in 2012 and other reports highlight the ever increasing potency of the attacks. The company recently released its human behavior analysis (HBA), a patent-pending method to analyse traffic and provide DDoS mitigation, in an effort to step up the competition with bigger firms.
The company, headquartered in Los Angeles, was founded in by Jeffrey Lyon (President and CEO). The executive team includes Shawn Marck as vice president.