The Symplified Trust Fabric is an ecosystem of web apps
(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.
According to the press release, Symplified tripled revenues and customer adoption last year.
In addition to funding, Cameron Myhrvold of Ignition Partners has joined Symplified’s board of directors. Ignition is also an investor in cloud infrastructure vendors including Cloudera, Salesforce.com, Zenprise, Citrix and others.
“Several years ago, Symplified recognized the security challenges and market opportunity that cloud computing would create,” Cameron Myhrvold, partner at Ignition Partners said in a statement. “Symplified pioneered the market for cloud identity and access management with a cloud delivered service that goes beyond single sign-on and is accessible to any sized organization. We were impressed by the company’s founders and their track record of innovation in the identity and access management space. First in Web access management, then in identity federation and now in cloud and mobile access management. Symplified is at the forefront of an enormous market opportunity to secure and manage the cloud.”
Symplified recently introduced its cloud IAM solution for iPad, Kindle Fire, iPhone and Android devices.
“We developed a purpose-built platform for converged identity management that makes cloud services as secure and manageable as if they were inside the firewall regardless of the location of users, apps, and devices. Unlike retrofitted federation software products being marketed as cloud solutions, Symplified is a pure-play cloud identity service,” Eric Olden, CEO and founder of Symplified said in a statement. “We were looking for a partner who understands the enormously disruptive potential of the cloud for delivering infrastructure services like identity and access management. Ignition Partners is a perfect fit and the ideal partner to help Symplified scale up as the leader in cloud identity.”
About Nicole Henderson
Nicole Henderson writes full-time for the Web Host Industry Review where she covers daily news and features online, as well as in print. She has a bachelor of journalism from Ryerson University in Toronto, and has been writing for the WHIR since September 2010. You can find her on Twitter @NicoleHenderson.
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