Symplified Closes Series B Round As It Gets Ready For The Enterprise Cloud Boom

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Symplified, the Boulder based cloud security company, today announced that they have raised a Series B round of $9 Million funding. Symplified offers a comprehensive identity management suite consisting of Access Manager, Identity Manager and Single Sign-On. Also, their SinglePoint PaaS offering is suitable for enterprises to have a virtual identity infrastructure which will let them have public and private clouds work as a single flexible platform.

If you follow closely the discussions around cloud security, you will know that identity management and access control are key to the cloud security. This is one of the reasons many companies focussing on cloud security are directing lot of their resources to tackle this problem. One of the domains in CSA’s initiatives, Trusted Cloud Initiative, is entirely focussed on identity and access management because it is key to establish the trust in the cloud services. In my upcoming Research Report on the Cloud Trends in 2011 and beyond, I will be pointing out how this space is going to heat up in 2011 as security aware enterprises move more and more into the cloud.

Symplified, with their broad suite of identity and access management solutions and, also, with their SinglePoint platform, are well positioned to address the enterprise needs. In fact, 2010 was a breakout year for them as the company grew revenue 700 percent year over year to reach a multi-million dollar run rate. They also passed the 1 Million licensed users across Fortune 500 and SMB sectors. They have partnered with Amazon and launched the Trust Cloud on Amazon Web Services to become the only and largest provider of identity management services on Amazon cloud platform today. Clearly, Symplified is on the right track to dominate the enterprise cloud security market segment.

With this round, the total funding for the company is at $18.8 Million dollars. The latest round was led by their existing investors Granite Ventures and Allegis Capital, and, also, includes a strategic investment by Quest Software. They plan to raise Series C funding in 2011. The additional funding will help Symplified get a foothold in the IaaS space which is expected to attract significant enterprise adoption. With their platform capable of supporting wide range of IaaS and SaaS providers, they are well positioned to grab a larger pie in the coming years. It will be interesting to see how they progress in 2011.