As more companies turn to cloud-based applications, there's a bigger demand to secure and manage access to those, leading to several recent fundings. The latest recipient is Symplified, which said it has secured $20 million in Series C financing. New investor Ignition Partners led the round, with participation from Allegis Capital, Granite Ventures and Quest Software.
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Symplified, which offers businesses tools for managing cloud applications, raised the funds in a round led by Ignition Partners.
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Symplified, a Boulder, Colo.-based cloud identity company, has raised $20 million in Series C funding led by Ignition Partners. Other company shareholders include Allegis Capital, Granite Ventures and Quest Software.
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Eric Olden sold his first startup at age 29 for $135 million and he knew then that he wanted to start a new company, build it bigger and take it public.
Flash forward about a decade and his second startup, Symplified, is "within striking distance" of $100 million in revenue and an IPO by 2014, he says.
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Symplified Inc. said Wednesday it has raised $20 million in a venture capital round led by Ignition Partners.
The Boulder-based cloud identity and access management company said it will use the funds to expand operations, service and support, research and development, and marketing resources.
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Symplified, which provides identity and access management tools for cloud applications, has raised $20 million in Series C funding led by Ignition Partners. Existing investor Allegis Capital, Granite Ventures, and Quest Software also participated in the financing, which brings the company's total funding to $38.8 million.
With more than 3.8 million subscribers, Symplified offers a cloud identity and access management service for enterprises. Businesses can use Symplified for cloud identity management, access control, single sign-on for employees, user management and auditing across any access device using a unique proxy gateway architecture deployed either in the cloud or on premises. The company provides secure access to SaaS applications like Salesforce, ADP, WebEx, Xactly, Taleo, Success Factors and many others.
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(WEB HOST INDUSTRY REVIEW) — Cloud security firm Symplified announced on Wednesday that it has raised $20 million in a Series C round of venture capital financing led by Ignition Partners. Existing investors include Allegis Capital, Granite Ventures, and Quest Software, bringing the total funding to $38.8 million.
Symplified says it has more than 3 million licensed users of its cloud identity management platform, and will use the funds to expand operations, service and support, research and development, and marketing resources.
Its cloud service provides cloud and identity access management across SaaS, web and mobile apps used by employees, customers and partners.
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Another burgeoning Boulder-based tech firm has landed a significant amount of venture capital funding.
Symplified, a Boulder-based firm that develops cloud computing-based identity and access management technology, on Wednesday announced it raised $20 million in a fund-raising round led by Ignition Partners.
The announcement comes a day after Boulder-based SendGrid disclosed it raised $21 million.
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BOULDER - Symplified Inc., a Boulder-based company that develops a cloud-based computer security platform, announced Wednesday it has raised $20 million in a Series C funding round, bringing the total the company has raised from venture capitalists to $38.8 million.
Symplified founder and CEO Eric Olden said the growth stage investment will be used to expand operations, service and support and marketing efforts.
Symplified is approaching profitability, and the financing will give the company the wherewithal to expand and defend its position in the growing cloud-security industry, Olden said.
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Congratulations to Symplified on raising $20 Million in Series C funding led by Ignition Partners. Symplified presented at Under the Radar back in 2009 and has since raised a lot of funding and made huge growth. Congratulations to the entire team!
See their 2009 Under the Radar Presentation HERE.
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The explosive success of cloud computing, and especially SaaS, will drive IT in 2012 to search for better ways to ensure security, privacy and enterprise-wide identity and access management. IDN speaks with Darren Platt, CTO of Symplified about what his firm, which just closed on $20 million in funding, sees coming for cloud security.
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