Symplified Supports Entrepreneurs Foundation of Colorado
BOULDER, Colo., June 16, 2008–Symplified today announced that it has joined the Entrepreneurs Foundation of Colorado (EFCO) to support philanthropic efforts throughout the community. EFCO allows startup companies to donate a fraction of their equity to Boulder’s Community Foundation during initial stages of liquidity.
While they may want to directly support charities, most startups are not in a financial position to do so. Through EFCO, entrepreneurs can focus on building their business while meeting their philanthropic goals.
“Philanthropy, volunteerism and community involvement are core values at Symplified,” said Eric Olden, founder and CEO of Symplified. “EFCO enables us to maintain our company’s commitment to giving back and supporting the local community, at a time when our financial resources are invested in building a company. We are grateful to EFCO for the opportunity to make this contribution.”
Donations from EFCO to the Community Foundation are channeled to various non-profit organizations throughout Colorado, allowing EFCO to focus on working with entrepreneurs to help them meet their philanthropic objectives. Contributing companies simply select a cause, and the Community Foundation takes care of the rest. EFCO is aligned with the Entrepreneurs Foundation, an organization formed in 1988 with affiliates in Silicon Valley, Austin, Southern California, New England, Dallas, Portland, Atlanta, Hawaii and Israel.
“Working with various local initiatives through the Community Foundation, EFCO allows entrepreneurs to support a range of causes from education to the environment,” said Brad Feld, Foundry Group managing director and one of the founding trustees of EFCO. “Symplified’s support helps us to achieve the critical mass of equity donations we need to truly make a difference in our community.”
Symplified’s vision is to enable Enterprise 2.0 to adopt cloud computing by providing the identity infrastructure for the On Demand world. Symplified was founded by the same management team that created Securant, which pioneered the market for Web access management software and was acquired for $140M by RSA Security. The company has developed revolutionary technology that addresses the complexity and cost associated with monolithic software approaches to Web identity management. Venture funding for the company was provided by Granite Ventures and Allegis Capital. Symplified is headquartered in Boulder, Colorado.