Huge Revenues for Symplified, Gets $9M in Funding Too
Cloud security company Symplified announced some significant revenue figures for the 2010 year. Surpassing all expectations, the company has reportedly grown 700 percent year over year. It has also surpassed the one million mark for licensed users using its cloud identity and access management service. Coming off such a successful year, Symplified also has high hopes for the next twelve months:
“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.”
The company has also managed to raise a $9 million Series B round of venture capital financing, giving Symplified a total of $18.8 million. This financing round was led by existing investors Granite Ventures and Allegis Capital, plus a strategic investment by 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,” said John Millburn, Vice President and General Manager of identity and access management, for Quest Software.
As a final note, let’s take a quick look at major achievements and developments by Symplified in year 2010.
- 700% revenue growth
- Over 1 million licensed users
- New regional offices in Silicon Valley, Washington DC, and Boston
- Strategic partnership with Amazon
- Established itself as the world’s largest pre-integrated SaaS ecosystem
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