An image from Symplified's website illustrating the structure of its Trust Cloud
(WEB HOST INDUSTRY REVIEW) – Cloud security firm Symplified (www.symplified.com) announced on Wednesday that its revenue grew by 700 percent in 2010 and that it has closed a $9.2 million Series B round of venture capital financing.
The latest financing round was led by existing investors Granite Ventures and Allegis Capital, including a strategic investment by Quest Software.
Symplified’s total funding is $18.8 million and it plans to raise additional Series C funding later this year.
“2011 will be the year Infrastructure as a Service for the cloud takes off. However, in order for enterprises to take of advantage of the cloud they need fundamental security and identity management capabilities that are built specifically for SaaS apps like Salesforce and cloud platforms like Amazon Web Services,” said Eric Olden, founder and CEO of Symplified. “Symplified provides the only comprehensive identity management suite with this capability today for cloud infrastructure services like Amazon EC2 and hundreds of SaaS applications. This latest round of funding will allow us to scale our field organization to meet global demand for a technology that is mature and years ahead of anything else on the market.”
In May 2010, Symplified launched an identity and access management solution for enterprises using Amazon’s cloud. Symplified says its Trust Cloud integrates its technology with Amazon Web Services to provide scalable identity services.
Currently Symplified is the sole provider of identity management services on the Amazon cloud platform.
“Symplified has developed the first complete identity and access management platform for the cloud,” said John Millburn, vice president and general manager of identity and access management, for Quest Software. “The company’s team is top-notch and proven, having built a successful identity management business once already and having the foresight three years ago to build this critical infrastructure for the cloud. We are excited about the position Symplified has taken as the leading cloud identity provider and the enormous market opportunity they are addressing.”
Last year Symplified moved its headquarters to Boulder, Colorado to accommodate its growth. The company also opened regional offices in Silicon Valley, Washington DC, and Boston.
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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